Ethel Olson Obituary

Ethel Olson

Ethel Olson,

loving mother, grandmother, devoted wife and successful businesswoman passed away peacefully at home on Thursday May 14, 2020 surrounded by family. She was born on December 4th 1923 in Bent, N.M. She is preceded in death by her parents Donaciano and Catarina Davalos Ortega, her husband John R. Olson, and her brothers Eloy Ortega, Frank Ortega, Inez Ortega, and Daniel Ortega. She is survived by her children John A. Olson (Karen), Joan Olson (Ronn Hagar), Diane Armijo (Aaron), Eric Olson (Megan), her grandchildren Adam Armijo, Dylan Armijo, Makena Olson, Kailen Olson, Ashlyn Olson, and Alana Hagar, her sisters Cecilia Harding, Katherine D. Ortega (Lloyd Derrickson), brothers Albert Ortega, David Ortega (Karen), and numerous cousins, nieces and nephews.

Ethel was a pioneer among women in executive leadership roles in finance and banking. She was one of the first women to become a CPA in the State of New Mexico. She later founded the CPA Firm of Olson & Ortega in Alamogordo, NM as well as being the founder and CEO / Chairman of the Board of Directors of Otero Savings and Loan also in Alamogordo, NM, and in doing so became the first female CEO of a Bank or Savings and Loan in the State of New Mexico, Director of the Federal Reserve Bank, El Paso Branch, was a 40 year member of the American Institute of CPA's, and was the first woman nominated by the Governor of New Mexico to serve on the New Mexico Military Institute Board of Regents, Roswell, NM.

Private services are being held and she will be buried with her husband at Fort Logan National Cemetery, Denver, CO.

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Published by Albuquerque Journal on May 24, 2020.

Memories and Condolences
for Ethel Olson

4 Entries

Raymond Ortega

May 14, 2025

My sincere condolences to the Olson and Ortega families. As a youngster I walked up Alamogordo's New York Avenue past the Don Ortega's home on my way to school or town. The times when I saw Ethel walking up town to her job at the bank I always saw her as a well-dressed lady walking with great posture. She was impressive when compared with the other ladies I saw on those early days.

Raymond I. Ortega
(My great grandfather Guadalupe M. Ortega was Donaciano's older brother)

Raymond I. Ortega

May 29, 2020

In the early years I used to notice how proudly Ethel walked up from the family home on New York Avenue to her work at one of the Alamogordo banks. She was an inspiration to a grade school youngster. Just to see her confidence was admirable.

R. B. Holmes

May 21, 2020

Ethel truly was a Pioneer Woman. A true professional, a recognized leader in her industry , compassionate in her thinking, and a woman of integrity..

Carol DittBenner (Paz)

May 21, 2020

I remember visiting the Ortega family in Almogordo, Ethel was a soft spoken person and very nice. Condolences and prayers to family.