UNM has maintained a partnership with Nusenda for more than 25 years, and the credit union has designed many programs to help students manage their finances, according to a press release. The credit union also has a location in the SUB.
“The credit union has been one of the biggest supporters of UNM over the years of any entity in the business community,” Frank said. “We’re thrilled that they are making themselves more distinct in this business environment and we want to thank them for what they do for us. Any way they stand out and are better able to enhance their ability to prosper is good for us, because they are always there for us.”
Nusenda recently donated $750,000 to UNM to help expand the coverage area of LoboWifi.
It also gifted $3 million to UNM’s Innovate ABQ project, the plan for a business incubator district in downtown Albuquerque.
Nusenda chose to undergo rebranding to become more memorable and to attract more customers, said Terry Laudick, CEO at Nusenda.
The credit union worked with three companies over the past 10 years to research new advertising theories, he said. It has been proven that the most memorable product names are a single word containing three syllables, like Nusenda.
The new name has been widely criticized as sounding like a medication or artificial sweetener, but Laudick said the name is simply taking advantage of proven advertising techniques.
“It continues to be our primary focus to serve the students, faculty and administration of the University and all the schools in the Rio Grande, but many people were saying they wanted to join and didn’t think they could because the name said New Mexico educators,” Laudick said. “So it was limiting some of our growth, and growth is what keeps us in a position to continue to support the University.”
Nusenda supports UNM through at least five programs, and is always available to aid students in better understanding their finances and loans, he said.
For example, Nusenda has partnered with UNM to integrate a financial component into the University 101 course. Through this partnership, the credit union works with each instructor of the course individually to best adapt the financial curriculum to their class, according to a press release.
“Change is difficult and not everyone can accept change, but they’ll adapt to it once they have a better understanding of why,” Laudick said. “We’re out to communicate that why. This will make the credit union stronger. We’re going to be able to do more for all of our educational programs and our community. What’s important to us is prospering and being able to give back.”
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Marielle Dent is a staff reporter for the Daily Lobo. She can be contacted at news@daily.com or on Twitter @Marielle_Dent.
