ALBUQUERQUE, N.M. — Nusenda Credit Union and the University of New Mexico have now officially renamed the campus financial education hub as the Nusenda Center for Financial Capability following a new 10-year, $1.6 million commitment from the credit union aimed at expanding financial literacy and student support programs.
According to the $5-billion Nusenda Credit Union, the ribbon-cutting ceremony for the newly named center marks the next phase of a partnership that spans more than four decades between the Albuquerque-based credit union and the university.
The credit union said the investment will help the center expand its reach and continue providing financial education and support services to students.
‘Something We Do Every Day’
“At Nusenda, supporting UNM students is something we do every day,” Nusenda President and CEO Michelle Dearholt said in a statement. “This investment strengthens our ability to meet students where they are and prepare them for what comes next, whether that’s building a budget, establishing credit, or accessing responsible lending solutions.”
Dearholt said the credit union hopes the expanded partnership will help students build confidence, develop stronger financial habits and successfully transition into life after college.
According to Nusenda, the Center for Financial Capability was established in 2018 through a partnership with the university’s Dean of Students Office to address financial literacy challenges and improve student success. Since then, the center has become a key campus resource focused on reducing financial stress, improving retention and providing support for first-generation, Pell Grant-eligible and low-income students.
‘Overcoming Barriers’
UNM Dean of Students Nasha Torrez said the center originated from a student’s idea to create a resource that would help classmates overcome financial barriers that can impede academic success.
“Nusenda’s partnership and investment brought that vision to life, and together we have built a program that has positively impacted thousands of students,” Torrez said in a statement. “The center’s growth demonstrates what is possible when we listen to student voices, invest in their ideas and work collaboratively to create meaningful solutions that strengthen student success and well-being.”
Long-Time Relationship
Nusenda said its relationship with the university dates to 1985 and has included more than $7.5 million in support for university initiatives. The credit union said the new commitment, combined with its recently announced agreement to sponsor UNM’s basketball arena as “The Pit – Powered by Nusenda,” will bring its additional investment in the university to nearly $20 million over the next decade.
