Nusenda Credit Union is headquartered in Albuquerque and is the largest credit union in the state of New Mexico. It is also the 112th largest credit union in the nation. It was established in 1936 and as of December of 2020, it had grown to 579 employees and 223,494 members at 20 locations. Nusenda Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Nusenda Credit Union is open to all New Mexico residents by joining the New Mexico Wilderness Alliance ($35 membership fee). Membership is also open to those who live, work, worship, or attend school in Socorro, Taos, or Valencia Counties. (Membership requirements are listed in the credit union's online application)
See current membership details
A good place to bank
I had both a savings and checking account with Nusenda and overall, it was a good experience. I once wrote a check for rent from the account that was about to bounce, and they called me to give me a chance to rectify the issue before allowing the check to be cashed. They also reversed overdraft fees a couple of times after I asked and offered them an explanation for why I was overdrawn. Every time I've entered the branch near my home, they've been polite and courteous to me. The setup process for getting an online account was kind of confusing, but I imagine they've fixed that since I was a member. Once I had an account, I found it relatively easy to use.
I like Nusenda
I've been pleased with Nusenda's checking. There's no fees and no minimum, assuming you waive paper statements. (Monthly statements are still accessible in .PDF format.) At the local Lomas Blvd. branch, I've found staff to be friendly and helpful. The teller lines can get a bit long during peak check cashing times, but at least the coffee's free. (And I use direct deposit so it rarely effects me.)
great
I have had nothing but great experiences with this bank. It is easy to set up an account with them and the customer service is outstanding. I once had an issue with fraud, my paypal account was hacked and all the funds from my credit union account were withdrawn. They were extremely prompt to work with me to rectify the situation. I really appreciate that they didn't hassle me or make me feel like I was lying or that it was my fault.
Overall New Mexico Educators Credit Union is a fantastic credit union.
Nusenda Is Terrible
Where do I begin, this is my husbands bank. After getting married and joining accounts and finances we decided to go with this bank. A regret is the least.... we purchased a vehicle in 2018, we started getting notice about the vehicle not having insurance. We send proof and still getting notices make two trips to Nusenda bank on Unser twice. Thinking this is long and done our vehicle payment went up by 150 dollars a month. Checked the statements and they added there own insurance to the vehicle putting another 7k on top of what we signed for. Going back to the bank now with the portfolio of the insurance they take off only 3k and said the vehicle was not covered in some months and still have not removed the money they added. We paid 150 for a year and the payment dropped to the amount we originally signed for. With the debit card and bank is terrible as well. I had my card decline at Costco called number on the back of the card said to try back on business hours. This was a Friday evening after hours, had I been out of state or on travel and this happened I’d be in trouble. I been furloughed due to covid and I have a personal loan with Nusenda, they didn’t extend or help with my financial situation with the loan. But I did inform them that was able to make a payment because my home is most important. They took the loan payment when I have my house payment pending. So do yourself the run around the waste of money and time and stick to another bank. I banked with USAA before and I never had this problem ever. And if you have to depute anything like charges it has to post and they do investigation.
Terrible Experience. Misleading Info. AVOID.
I wanted to open a Nusenda account on 3/15/2018. I paid $35 to the New Mexico Wilderness Alliance to qualify for membership. Nusenda did a hard pull on my credit and then said I had to come into a branch to open an account. What a load of garbage! This is in direct conflict with what they claim online.
Take Time To Shop Around
Not happy with Nusena (formerly NM Educators). In January, 2016, they changed over to a "new and improved" internet computer system; it took me over 4 hours to get my three accounts up and running afterward. They pay .35% on an IRA account--that's terribly uncompetitive! Ally, for example, offers 1%, plus a bonus if you transfer from another IRA account. Shop around--there are lots of CUs and banks out there.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 948 |
| Year Chartered | 1936 |
| Employees | 579 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.81% |
| Return on Equity - YTD | 8.62% |
| Annual Interest Income | $100.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $3.18B$2.45B |
| Loans | Q4 2020vs Q4 2019 | $2.20B$1.93B |
| Deposits | Q4 2020vs Q4 2019 | $2.85B$2.15B |
| Equity Capital | Q4 2020vs Q4 2019 | $293.0MM$267.9MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $23.6MM$13.4MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $15.8MM$7.4MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |
