Credit Union's "Earn Your Return" Program Returns to both Members and NM Communities
Through its “Earn Your Return” program, Nusenda Credit Union, the largest credit union in New Mexico with more than 155,000 member-owners, announces today that it will return more than $8 million to qualifying member-owners and their communities. Through the “Earn Your Return” program, Nusenda Credit Union returns to members and their communities based on their participation in their credit union. Each qualifying Nusenda Credit Union member-owner will receive their dividend today by direct deposit to their accounts.
Nusenda Credit Union returns and reinvests its profits to its members and communities instead of maximizing profits like a bank. The “Earn Your Return” program is a Nusenda Credit Union member benefit that allows member-owners to earn an economic return by participating in more financial services within their cooperative. Loan and deposit balances are combined to determine the dividend each member receives.
“This year we are pleased to announce that more than $8 million was earned by our member-owners through their participation in their credit union,” says Terry Laudick, CEO of Nusenda Credit Union. “As a not-for-profit financial cooperative, we return the credit union’s surplus income to member-owners and their communities. Our approach is to do well so that we can do good.”
In conjunction with individual member returns, Nusenda Credit Union gives back to nonprofit and community-based organizations to improve the communities in which our member-owners live, work and play. Every year, the credit union pledges to make a direct impact on the social and economic health of our community, as well as innovations and education to build a future for generations to come. Since 2005, Nusenda Credit Union has returned more than $160 million to its member-owners and their communities through better rates and lower and no fees, direct financial returns, and community support. This comes in the form of traditional investment as well as in-kind contributions such as financial capability training, internship and mentorship programs, and innovative solutions such as micro assistance, payroll distribution products, and member assistance loans.