ALBUQUERQUE, N.M. — Nusenda Credit Union's "Earn Your Return" program will distribute more than $8 million to qualifying members and to the communities it serves.
The $1.6 billion CU, which is the largest credit union in New Mexico with more than 155,000 members, said "Earn Your Return" is based on participation in their credit union. Loan and deposit balances are combined to determine the dividend each member receives. Each qualifying member received his or her dividend by direct deposit on Wednesday.&
In conjunction with individual member returns, Nusenda CU said each year it pledges to make a direct impact on the social and economic health of its community, as well as innovations and education to build a future for generations to come. Since 2005, Nusenda has returned more than $160 million to its members and their communities through better rates and lower and no fees, direct financial returns, and community support. This may be 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.
"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," Terry Laudick, CEO of Nusenda Credit Union, said in a statement. "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."
