Nusenda Credit Union has entered a 10-year partnership with the University of New Mexico that will provide $1.74 million annually for UNM Athletics and rename UNM's University Arena – The Pit to The Pit – Powered by Nusenda.
"For more than four decades, Nusenda has been a trusted partner of our university," Garnett Stokes, UNM's president, said. "This expanded commitment reflects not only the strength of that relationship, but a shared belief in the importance of investing in student-athletes and sustaining one of New Mexico's most visible community institutions. We are grateful for Nusenda's continued confidence in UNM and in the role we play across our state."
The agreement continued a relationship that began in 1985. Since then, Nusenda has invested almost $7 million in university initiatives, including the UNM Center for Financial Capability, UNM Rainforest and Innovate ABQ, the UNM Wireless Project and the Nusenda Lobo Landing branch in the Student Union Building, along with philanthropic support for UNM Hospital and Popejoy Hall.
"We are thrilled to enter into this historic partnership between two of New Mexico's most identifiable brands – the University of New Mexico Lobos and Nusenda Credit Union," Ryan Berryman, interim vice president and director of athletics, said. "This agreement provides meaningful operating support for our programs while honoring the tradition and legacy of The Pit."
Nusenda is led by president/CEO Michelle Dearholt, a University of New Mexico graduate. Founded in 1936 as Albuquerque Public Schools Federal Credit Union, Nusenda is the largest credit union in New Mexico by assets and membership.
"This partnership is more than putting our name on a building. For more than 40 years, we've supported UNM students, faculty and families with resources that strengthen their financial well-being," Dearholt said. "From our Lobo Landing branch to funding the Center for Financial Capability on campus, each step has been about deepening our relationship and creating opportunities. The Pit – Powered by Nusenda is the next chapter in our journey, and one that allows us to celebrate Lobo pride while investing in our student-athletes. As a local, trusted financial institution for 90 years, we know the community's history and needs, and we're proud to support the fans and the future of the Lobo family."
The partnership will also provide financial literacy education for UNM's more than 400 student-athletes, focusing on personal financial wellness. Logos and signage reflecting the new name are expected to be installed before the tip-off of the 2026-27 basketball season. Fans can support UNM Athletics through the partnership by using UNM- and Lobo-branded debit and credit cards, which are available now.
Nusenda has almost $5 billion in assets and more than 280,000 members, and operates more than 30 branches across New Mexico and West Texas.
University Arena – The Pit, which opened in 1966, will mark its 60th anniversary next season. The arena is the primary home of Lobo men's and women's basketball, and other events.
Joyce Moed can be reached at joyce.moed@arc-network.com
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