EXHIBIT 5
                                       
                                  May 30, 1997


Access Anytime Bancorp, Inc.
PO Drawer 1569
801 Pile Street
Clovis, New Mexico  

     Re:  Registration Statement on Form S-8 - 1997 Stock Option and 
          Incentive Plan

Ladies and Gentlemen:

     We have acted as counsel for Access Anytime Bancorp, Inc., a Delaware 
corporation (the "Company"), in connection with the registration by the 
Company under the Securities Act of 1933, as amended, of 180,000 shares of 
Common Stock, $.01 par value per share (the "Common Stock"), in connection 
with the Company's 1997 Stock Option and Incentive Plan (the "Plan") pursuant 
to a Registration Statement on Form S-8 (the "Registration Statement") to be 
filed with the Securities and Exchange Commission (the "Commission").  

     We have examined originals, or copies certified to our satisfaction, of 
such corporate records of the Company, certificates of public officials, 
certificates of officers and representatives of the Company and other 
documents as we have deemed necessary as a reasonable basis for the opinions 
hereinafter expressed.  In our examination we have assumed the genuineness of 
all signatures and the authenticity of all documents submitted to us as 
originals and the conformity with the originals of all documents submitted to 
us as copies.  As to various questions of fact material to such opinions we 
have, when relevant facts were not independently established, relied upon 
certifications by officers of the Company and other appropriate persons and 
statements contained in the Registration Statement.  

     Based upon the foregoing and having regard to legal considerations which 
we deem relevant, we are of the opinion that when (i) the Registration 
Statement becomes effective, (ii) the consideration to be received for the 
shares to be issued by the Company pursuant to the Plan (which consideration 
shall be in excess of the par value of such shares) shall have been received 
by the Company, and (iii) the shares of Common Stock have been issued 
pursuant to the Plan, the Common Stock so issued will be duly authorized, 
legally issued, fully paid and nonassessable.  

     We do not express any opinion as to matters governed by any laws other 
than the laws of the State of New Mexico, the General Corporation Law of the 
State of Delaware and the Federal laws of the United States of America.  You 
should be aware that we are not admitted to the practice of law in the State 
of Delaware and the opinion herein is based solely upon unofficial 
compilations thereof.  

     We hereby consent to the filing of this opinion as Exhibit 5 to the 
Registration Statement.  



                                            Very truly yours,

                                            KELEHER & McLEOD, P.A.


                                            By  /s/ Charles L. Moore      
                                               ----------------------
                                                Charles L. Moore

CLM/sls

38178