In addition to what your credit union returns to you, Nusenda Credit Union gives back in many other ways. In 2020, your credit union focused on helping our members with their day-to-day banking needs and provided special assistance to many during very challenging times. We offered skip-a-pay options, deferrals on more than 10,000 loan payments, eliminating the negative impact of past-due payments on members’ credit histories and waiving more than $3.4 million in fees.
Many of our business members were hit hard by mandated closures — particularly small, locally owned businesses in the retail, restaurant, and tourism sectors. Nusenda quickly and proactively provided interest-only payments, deferrals, SBA Paycheck Protection Program loans totaling more than $52 million, and other relief measures. In turn, these businesses were able to keep more than 6,800 New Mexicans employed and on the payroll.
In 2020, Nusenda and its employees contributed almost $1.3 million to communities, and people hit hardest by this pandemic. This effort, combined with our work to ensure small businesses could make payroll, demonstrates the ripple effect of The Power of WE throughout New Mexico.
Additional benefits of credit union membership include:
- All members are owners
- Every member's voice is important
- Credit unions are not-for-profit
- Surplus income is shared with the members through Earn Your Return and Community Rewards
- Fewer or no fees and better rates
- Lower loan interest rates and higher savings rates, frequently exceeding banks' best offers
Now you can join The Power of WE® too!