Our History

Nusenda Credit Union’s history has been filled with both successes and challenges that have driven innovative thinking and bold transformations, molding us into the strong and secure financial institution 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.


Maurine 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 improving 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 Feb. 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 remained an active member of the credit union until her death at age 101. Now, more than 80 years later, the founding relationship between Nusenda and APS continues to grow and thrive, based on the needs of teachers, staff, students, and the communities both organizations serve.


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.


Nusenda Credit Union — The Power of WE

Building on nearly a century of experience, relationships and stability, we strive to continue our tradition of evolving to serve our members better. In 2015, we changed our name to Nusenda Credit Union to reflect our expanding capabilities, and we now offer more than 600 ways to join our cooperative. At Nusenda we are passionate about our mission to transform the financial lives of all New Mexicans by providing personalized solutions and convenience, technology, and accessibility. We are committed to making a positive difference in the lives of the people that we serve and for all of New Mexico. That’s the Power of WE® in action!


Big bank services, small town attitude.



The Power of WE® in Action