November 1, 2022 - For Immediate Release
Albuquerque, N.M. – Nusenda recently announced four new community lending partners in its Co-op Capital microloan program: Southwest Native Assets Coalition, Cruces Creatives, The Climate Change Leadership Institute, and WESST.
Nusenda’s Co-op Capital program is a character and relationship-based program that provides microloans for low-income and underbanked entrepreneurs. This lending model provides access to capital through educational, cooperative, and nonprofit organizations that provide customized and impactful microloans for the recipients. Underserved business owners and individuals who are looking to make an impact on New Mexico communities can now receive funding through 19 established community organizations.
“This new group of Co-op Capital partners expands our geographical reach to the most Southern and Western parts of our state,” says June Manning, Nusenda’s Co-op Capital Program Manager. “It also diversifies the borrowers we can reach, to include young people aging out of foster care, immigrant and creative entrepreneurs, farmers and ranchers, returning citizens, and Native Americans investing in renewable energy.”
The newest Co-op Capital partner organizations are:
- Southwest Native Assets Coalition (SWNAC): The Coalition is focused on increasing the number of Native American families in New Mexico and Arizona who have the skills and resources necessary for financial success. SWNAC aims to make a long-lasting difference through meaningful and intentional community support.
- Cruces Creatives: Cruces Creatives is a non-profit makerspace committed to fostering economic development, furthering education, supporting the arts, protecting the environment, strengthening social connections, and advancing science and technology throughout New Mexico. They do so through connecting people with the tools, training, and community to foster true creativity.
- The Climate Change Leadership Institute (CCLI): CCLI is a nonprofit organization dedicated to phasing out greenhouse gas emissions and empowering community through conservation, the adoption of clean energy, and the act of taking responsibility as a civil society.
- WESST: WESST's mission is to be a home to New Mexicans starting or growing a small business. This is accomplished by supporting a system of consulting, training, and lending to help women, people of color, and low-wealth individuals successfully strengthen and grow their businesses through sustainable sales, financial knowledge, and job creation.
“We are delighted to be partnering with Nusenda Credit Union in providing bridge funding to farmers and ranchers who are recipients of healthy soil program grants from the New Mexico Department of Agriculture,” said Robb Hirsch, Founder and Executive Director of the Climate Change Leadership Institute. “These empowering and very easy to manage financial services are enabling producers to not have to go out of pocket to invest in their soil health projects. It’s a win for supporting regenerative agriculture and it’s a win for New Mexico!”
Since Nusenda Co-op Capital’s inception, over 324 jobs have been created and over $1.6 million dollars have been provided through nearly 300 microloans. The program flips the traditional lending model and provides underserved businesses a chance to succeed. Current partners include Native Renewables, New Mexico Community Capital, NMCAN, Santa Fe Community College Foundation, Street Food Institute, UpTogether, Partnership for Community Action, Cultivating Coders, Native Community Capital, South Valley Economic Development Center, Native Women Lead, UNM Innovation Academy, Change Labs, Three Sisters Kitchen, and International District Economic Development.
For more information, visit Nusenda’s Co-op Capital webpage at https://www.nusendafoundation.org/partner-programs/co-op-capital
About Nusenda Credit Union
Nusenda Credit Union is New Mexico’s largest locally owned and operated credit union with 240,000 members and more than 700 employees. It has more than 20 branches throughout New Mexico in Albuquerque, Rio Rancho, Santa Fe, Taos, Valencia County, Socorro, and Las Cruces. There are hundreds of ways to join the credit union. Connect with Nusenda Credit Union at www.nusenda.org; Facebook @NusendaCU; Twitter @NusendaCU; and LinkedIn: https://www.linkedin.com/company/nusenda-credit-union.
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Media Contact: Eric Harrison, (505) 610-0419 or [email protected]