Our History

Nusenda Credit Union is focused on investing in the financial future of our communities, and our journey has made us the strong and secure financial cooperative that we are today.

Where It All Began

Our story begins with Maurine Grammer — a teacher, writer, appraiser of Native American art, and wife to Native American rights lawyer David A. Grammer. In 1935, she discovered that the U.S. government had made it possible for many groups to form credit unions. Having dedicated most of her life to history-midimproving the state of New Mexico, Maurine saw an opportunity to do something good for her community. As president of the Albuquerque Teacher’s Association at the time, she approached Albuquerque High School Principal J.R. McCollum to discuss the possibilities.

In December 1935, Maurine, J.R. and seven other individuals applied for a charter to form a credit union. On February 29, 1936, the Albuquerque Public Schools Federal Credit Union (APSFCU) was founded to serve “the employees of APS, members of their immediate families, and any associations of such employees.” Maurine Grammer remained an active member of the credit union until her death at age 100.

An Expanding Community

Over the years, the credit union membership expanded to assure the strength and stability of the cooperative. Soon others were eligible to become members, including employees and students of other schools both in Albuquerque and nearby Los Lunas and Bernalillo. Educational retirees and employees of the University of New Mexico and University Hospital were also welcomed.

In 1982, to reflect its growth among education-related employees and family members, the credit union’s name was changed to New Mexico Educators Federal Credit Union. When it began in 1936, the credit union operated out of the office of the secretary at Albuquerque High School. By 2014, it had grown to 16 offices in Albuquerque, Rio Rancho, Los Lunas, Santa Fe, Taos, and Socorro.

A New Chapter as Nusenda Credit Union

Building on nearly a century of experience, relationships and stability, we strive to continue our tradition of evolving to serve our members better. We adopted the name Nusenda Credit Union in 2015 to reflect our expanding capabilities, and we now offer more than 500 ways to join our cooperative.


Big bank services, small town attitude.

The Power of WE® in Action