New Mexico State University (NMSU) has received a generous $3 million donation from Nusenda Credit Union, which will be used to establish two financial technology spaces at NMSU. The donation, with $1.5 million allocated to each center, will be distributed at a rate of $150,000 annually, according to a press release by UNM.
NMSU has expressed its excitement about the partnership with Nusenda Credit Union, stating, "The Nusenda FinTech Lab at Arrowhead Center seeks to become a center of financial technological innovations in the Southwest region."
The Nusenda FinTech Lab at Arrowhead Center will provide crucial support to early-stage startups, helping them minimize their financial needs while they establish the core aspects of their projects. Entrepreneurs participating in the program will have access to a wide range of resources, including computing infrastructure, software tools, development expertise, advisory support, workspace facilities, and potential funding options for their ventures, as stated in a press release by UNM.
In addition to the Nusenda FinTech Lab, Nusenda Credit Union's donation will also establish the Nusenda Center for Financial Capability. This center will provide students and community members with access to educational resources, financial planning tools, and coaching to help them achieve financial security and reach their goals, according to Nusenda President and CEO Joe Christian.
Nusenda Credit Union, originally established in 1936 as Albuquerque Public Schools Federal Credit Union, has grown to serve hundreds of thousands of members across the state. They offer affordable financial products, friendly service, community engagement, and financial education, as stated on their website.
With this generous donation from Nusenda Credit Union, NMSU is poised to become a hub of financial technological innovation in the Southwest region. The Nusenda FinTech Lab and the Nusenda Center for Financial Capability will provide vital resources and support to entrepreneurs and students, helping them turn their ideas into tangible assets that can drive business transformation and create a lasting impact in their communities.