When Nusenda Credit Union in Albuquerque, N.M., announced the addition of four new partners to its Co-op Capital initiative in November, it marked the further development of a lending program that builds community ties through relationships and trust rather than traditional credit models.
Nusenda’s Co-op Capital program is a character- and relationship-based program that provides microloans for low-income and underbanked entrepreneurs. The lending model provides access to capital through educational, cooperative, and nonprofit organizations that provide customized and impactful microloans for recipients.
The newest Co-op Capital partner organizations are:
- Southwest Native Assets Coalition. The coalition focuses on increasing the number of Native American families in New Mexico and Arizona who have the skills and resources needed for financial success.
- Cruces Creatives. This…
