Nusenda Credit Union, a credit union based in New Mexico, is partnering with W.K. Kellogg Foundation, the Albuquerque Community Foundation; the McCune Charitable Foundation; and local, community-based organizations through City Alive to create an alternative financial system that supports marginalized and underrepresented local communities.
The alternative financial system, called Co-op Capital, is a community-based microlending program that transforms the traditional lending model that provides loans through member organizations.
In the Stanford Social Innovation Review, the Co-op Capital microlending program helps to provide underserved communities the access to the capital they need.
The microlending program also helps build creditworthiness, making "equitable, culturally adept lending possible by bringing community organizations directly into the process."
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The 1st annual 2013 Social Entrepreneurship Conference was a collaboration between the Maricopa Small Business Development Center, SEED SPOT, Wells Fargo, the SBA, and the Maricopa Community Colleges.