Nusenda Credit Union members now have the opportunity to use a new, innovative financial technology tool called The Power of Change.
Programs are available at many financial institutions that allow members to round up their transactions to the next whole dollar and have the proceeds transferred into a savings account. Nusenda identified an opportunity to help members grow their savings or contribute to Nusenda's community efforts. The credit union wanted to provide members with an elevated experience by allowing members to have a choice as to where their roundup change went — all with no fees or additional costs.
The credit union custom built a system to allow members to round up transactions made with their Nusenda Visa® debit card to the nearest dollar. Members can choose to allocate those roundup funds three ways — depositing into a savings account, paying down the principal on a qualifying Nusenda loan, or contributing it to local community organizations through Nusenda Foundation, the credit union's philanthropic arm.
Nusenda Credit Union's Chief Community Engagement Officer and Nusenda Foundation Executive Director Robin Brulé said the contributions designated to the foundation will support more than 80 nonprofit organizations that support education, the arts, the environment and wildlife, healthcare, and additional community services.
"Thanks to our members, this program will help us expand our partnerships with organizations statewide that work to serve our unique and diverse populations and the challenges they face," she added.
"For the last eight decades, our goal has been to drive innovation and service excellence to our members and the communities we serve," said Nusenda President/CEO Joe Christian. "Bringing this program to our members so they have the options to make choices for their financial well-being and their hometowns is just one of the many ways we work to transform the financial lives of New Mexicans."