We know our members may be affected by the partial government shutdown, and we offer various ways to help. Please see below several ways that we can support you during these challenging times. 

For more information on ways we can help you, call 505-889-7755 (800-347-2838 outside the Albuquerque area), or visit any of our branch locations.

Loan Payment Extensions & Skip-a-Payment

We can work with you on loan payment arrangements, including payment extensions or deferrals. Please stop by a branch or call our Contact Center for information. 

Early Share Certificate Withdrawal

If you are impacted by mass government shutdown, you may withdraw from your certificate early, without penalty.

Savings Secured Loans

You can borrow money for any purpose, at our lowest interest rate, for a personal loan with affordable monthly payments using your share account or share certificate as collateral.

Member Assistance Loan

If you are impacted by unpaid leave or shortened work weeks, this 0%* loan (up to $1,500) can help you meet everyday expenses. Nusenda will extend a loan equal to the amount of two biweekly or four weekly net paychecks with a maximum loan amount of $1,500. You will need to provide proof of furlough and your most recent check stub (issued within the last 30 days) to serve as furlough documentation. Approval of these loans will be determined on a case-by-case basis. 

Please note that this loan is intended for members whose positons are being reinstated. If your employment has been permanently terminated, please contact us to explore other financial options.

No-cost Budgeting Tools 

Nusenda Credit Union can help you develop a budget and identify where you can reduce your expenses. Your credit union also offers free budgeting tools.

  • For personal assistance in debt management counseling, try BALANCE, a comprehensive financial education and counseling service. BALANCE counselors are experts in all aspects of personal finance and credit. 
  • Banzai offers tools and resources to help you reach your financial goals. These resources can be accessed in five different languages: Spanish, French, Chinese, Tagalog, and Vietnamese.
  • We want to help you build financial confidence and take control of your credit, with Credit Score. When you log into Mobile or Internet Banking and opt in, you can check your score as much as you like without ever lowering your score.

Frequently Asked Questions

 

Can you help me if I am affected by the government shutdown?

We know such situations can be financially stressful. Nusenda Credit Union is here to assist you with options to help through this time, including:

  • Loan Payment Extensions/Skip-a-Payment – We can work with you on loan payment arrangements, including payment extensions or deferrals. Please stop by a branch or call our Contact Center for information at 505-889-7755.
  • If you are impacted by budget cuts, you may withdraw from your certificate early, without penalty.
  • Savings Secured Loans – You can borrow money for any purpose, at our lowest interest rate, for a personal loan with affordable monthly payments using a share account or share certificate as collateral.
  • Member Assistance Loan – With unpaid leave or shortened work weeks, this 0% loan (up to $1,500) can help you meet everyday expenses. This loan is intended for members whose positions are being reinstated. If your employment has been permanently terminated, please contact us to explore other financial options.
  • Free Budgeting Tools – Banzai, BALANCE, and Credit Score can help you develop a budget and identify where you can reduce your expenses.

     

What are the terms of the Member Assistance Loan?

Member Assistance Loan Details:

  • 0% APR
  • Loan amount equal to the amount of two biweekly or four weekly net paychecks. Maximum loan $1,500.
  • No payments for 120 days. Loan repayment of eight payments. Loan term of twelve months.

Please note that this loan is intended for members whose positions are being reinstated. If your employment has been permanently terminated, please contact us to explore other financial options.

How do I apply for the Member Assistance Loan?

Please contact us at 505-889-7755 (800-347-2838 outside the Albuquerque area) or stop by one of our branch offices.

What if I can’t make my loan payment because of the government shutdown?

We can work with you on loan payment arrangements, including payment extensions or deferrals. Please contact us at 505-889-7755 (800-347-2838 outside the Albuquerque area) or stop by one of our branch offices.

Who do I contact if I need to apply for a loan payment extension?

Please contact us at 505-889-7755 (800-347-2838 outside the Albuquerque area) or stop by one of our branch offices.

What if my spouse is impacted? Does he/she have to be a member to get the Member Assistance Loan?

Your spouse does not have to be a member. You, as a member, may apply for the loan and qualify for your impacted, non-member spouse.  

Do I need to be a member for a certain period of time to apply for the Member Assistance Loan?

No, you don’t need to be a member for a set time period. If you join today and you qualify for the Member Assistance Loan, you may apply immediately.

Is the Member Assistance Loan limited to the impact/change in my salary?

Yes, the loan is limited to two biweekly or four weekly net paychecks with a maximum loan amount of $1,500.

Do you pull a credit report for the Member Assistance Loan?

Yes, we will pull a credit report in order to identify all of the ways we can assist you during this time, but this loan is not dependent on your credit score.

What do I need to do to qualify for the Member Assistance Loan?

You will need to provide a letter of pay delay, change in hours, or proof of furlough, plus two of your most recent check stubs (issued within the last 30 days) to serve as documentation. Approval on these loans will be determined on a case-by-case basis.

Does my paycheck have to be directly deposited to Nusenda Credit Union to get the Member Assistance Loan?

No, it does not. However, you will need proof of furlough, and your most recent check stub issued within the last 30 days to serve as documentation.

How else can the credit union assist me during the government shutdown?

Nusenda Credit Union can help you develop a budget and identify where you can reduce your expenses. Your credit union also offers free budgeting tools.

  • For personal assistance in debt management counseling, try BALANCE, a comprehensive financial education and counseling service. BALANCE counselors are experts in all aspects of personal finance and credit.
  • Banzai offers tools and resources to help you reach your financial goals. These resources can be accessed in five different languages: Spanish, French, Chinese, Tagalog, and Vietnamese.
  • We want to help you build financial confidence and take control of your credit, with Credit Score. When you log into Mobile or Internet Banking and opt in, you can check your score as much as you like without ever lowering your score.

Can you help me if I am struggling to pay my mortgage because of the government shutdown?

If your mortgage loan is financed through Nusenda, please call 877-827-0554 to discuss payment options.