New Mexico - 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 unions 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.
