The University of New Mexico, UNM Sports Properties and Nusenda Credit Union (Nusenda) have announced a 10-year partnership that will provide an average annual value of $1.74 million in support of UNM Athletics.

As part of the agreement, University Arena—The Pit will carry the name The Pit—Powered by Nusenda, preserving the iconic identity of one of college basketball’s most storied venues while recognizing Nusenda’s longstanding investment in the University and the state. The agreement is subject to final board approval.

“For more than four decades, Nusenda has been a trusted partner of our University. 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,” said UNM President Garnett S. Stokes. “We are grateful for Nusenda’s continued confidence in UNM and in the role we play across our state.”

The naming of The Pit represents the most visible expression of a relationship that began in 1985. Over that time, Nusenda has invested nearly $7 million in University initiatives, including the UNM Center for Financial Capability, UNM Rainforest and Innovate ABQ, the UNM Wireless Project, the Nusenda Lobo Landing branch in the Student Union Building, and philanthropic commitments to 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,” said Vice President and Director of Athletics Ryan Berryman. “In this era of collegiate athletics, sustained excellence requires collective investment. This agreement provides meaningful operating support for our programs while honoring the tradition and legacy of The Pit. I hope that our community will be inspired by what is possible through The Power of We.”

Nusenda is led by President and CEO Michelle Dearholt, a two-time UNM graduate. Originally founded in 1936 as Albuquerque Public Schools Federal Credit Union, Nusenda is now the largest credit union in New Mexico in both 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.”