Eastern New Mexico University's Ruidoso campus is the resort-town version of the branch campus experience. If you're going to study near a mountain community, Ruidoso isn't a bad place to do it—the area is genuinely beautiful, with skiing nearby and real outdoor culture. The academics are solid community college fare, and the small-town setting appeals to students who want college without the crush of urban university life.
The limitation is the same as most branch campuses: you're working with a smaller pool of resources and programs than the flagship. But if your goal is affordable, manageable, and pretty—and you're willing to trade some options for that combination—Ruidoso works.