SANTA FE, N.M. — A nearly 80-year-old financial institution has changed its name and image to reduce confusion and reflect its growing membership.
New Mexico Educators Federal Credit Union is now Nusenda Credit Union. CEO Terry Laudick said the new name is based on comments from board members, credit union members and branding experts.
“It simply means a new direction in banking provided by a credit union,” Laudick said Tuesday at the credit union’s Uptown branch, where a banner bearing the old name and genie lamp logo was lifted to reveal a bright green wave shape and “nusenda.” The word is not an acronym and has no particular meaning.
Laudick said research revealed that some credit union members thought the old name was too complicated and implied that membership was restricted to educators.
Although the name is changing, Laudick stressed that members could continue to use their current checks and all account information and logins would remain the same.
This is not the institution’s first name change. It was founded in 1936 as the Albuquerque Public Schools Credit Union by school employees. The name changed to New Mexico Federal Credit Union in the early 1980s to reflect expanding membership as the credit union opened to what was then called Albuquerque Technical Vocational Institute, now known as Central New Mexico Community College, the University of New Mexico and schools and school districts in six counties in the state.
The credit union has 150,000 members and 16 branches located in communities from Socorro to Taos, Laudick said.