Nusenda Credit Union

Nusenda Credit Union
Credit union
Industry Financial services
Founded 1936
Headquarters Albuquerque, New Mexico, United States
Key people
 Judy Cartmell, Chairman
Terry Laudick, President/CEO
Products Savings; checking; consumer loans; mortgages; credit cards; online banking
Total assets $1.7B USD (2016)
Website nusenda.org

Nusenda Credit Union is a federally chartered credit union headquartered in Albuquerque, New Mexico and regulated under the authority of the National Credit Union Administration (NCUA). Nusenda Credit Union is the largest credit union by membership in New Mexico.[1] As of 2015, Nusenda Credit Union had more than $1.5 billion in assets, more than 150,000 members, and 16 branches from Taos to Socorro.

Nusenda Credit Union serves employees of educational institutions, along with more than 400 other local businesses, systems, and organizations, operating under multiple common bonds. Member deposits up to $250,000 are insured by NCUA through the National Credit Union Share Insurance Fund.

Nusenda Credit Union donates to charities and organizations in its communities. In 2007 the credit union assisted the University of New Mexico in establishing a wireless network on their main campus.[2] They opened a credit union branch in Atrisco Heritage Academy to promote financial literacy in 2010.

History

The credit union was founded in 1936 as the Albuquerque Public Schools Federal Credit Union. Its field of membership grew to include employees of Albuquerque Technical-Vocational Institute in 1968. Ten years later, employees of the University of New Mexico and University Hospital were added. To reflect its changed membership, the credit union changed its name to New Mexico Educators Federal Credit Union in 1982. Members of La Montañita Food Co-op became eligible for membership in 1984. New Mexico Educators Federal Credit Union continued to grow its assets and membership over the years and built new branches.[3] In February 2015, the credit union changed its name again, to Nusenda Credit Union,[4] after collecting member feedback about its name for more than a decade and conducting more than a year of in-depth research.

References

  1. ↑ Munro, Thomas. Members first. New Mexico Business Weekly. 12 September 2008.
  2. ↑ Carr, Steve. New Mexico Educators Federal Credit Union Helps Complete UNM’s Wireless Initiative with a Gift. University of New Mexico. 13 February 2007.
  3. ↑ Robinson-Avila, Kevin. Growth spurt for credit unions: But will rising interest rates bring growing pains? New Mexico Business Weekly. 28 August 2009.
  4. ↑ Rayburn, Rosalie (10 February 2015). "Credit union changes name, image". Albuquerque Journal. Retrieved 20 February 2015.
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