NEW MEXICO (KRQE) – Nusenda Credit Union is teaming up with a local immigrant-based organization to help families facing financial hardships during the pandemic.

‘Partnership for Community Action’ says many local immigrant workers don’t qualify for federal benefits or unemployment. The organization has been working with Nusenda to offer small loans that don’t require traditional credit checks.

The loans are capped at $600 and a 5% interest rate. The loans are limited to 80 families which will help them pay for housing and food during this time.

“It will allow a lot of families who have lost jobs or seen a reduction in their hours, it will allow them to get by in a few weeks. As we wait for the economy to rebound,” said Javier Martinez.

The Nusenda Co-op Capital Loan Program partners wtih ten organizations to increase access to afforadable capital for low-income populations.