Heaven Sent: Nusenda Powers The Pit in Landmark UNM Partnership
Few places in the Mountain West or even the country hold the cultural importance of The Pit. For generations of New Mexicans, it has been more than just an arena. It’s where state champions are crowned, Lobo legends are made, and community traditions like basketball and rodeo come alive.
Now, its future is getting a powerful boost.
The University of New Mexico has finalized a 10-year, $17.4 million naming-rights partnership with Nusenda Credit Union, providing an average of $1.74 million each year to
support UNM Athletics. Once approved by the UNM Board of Regents, University Arena will officially be called The Pit Powered by Nusenda starting with the 2026–27 basketball season.
Importantly, the building’s name remains intact.
Preserving tradition while investing in the future
UNM President Dr. Garnett Stokes emphasized that the agreement reflects a shared commitment to student-athletes and one of New Mexico’s most treasured institutions.
“This expanded partnership shows our shared commitment to student-athletes and one of New Mexico’s most respected community institutions,” Stokes said.
That partnership is not new. Nusenda’s relationship with UNM dates back to 1985. Over nearly four decades, the credit union has invested close to $7 million into university initiatives, including the UNM Center for Financial Capability, Innovate ABQ, the UNM Wireless Project, the Nusenda Lobo Landing branch in the Student Union Building, UNM Hospital, and Popejoy Hall.
For Nusenda President and CEO Michelle Dearholt — a two-time UNM graduate and Albuquerque native — this agreement represents a natural next step.
“Naming the arena marks a new chapter in our 40-year partnership,” Dearholt said. “We’re not replacing the name — we’re powering what The Pit represents and investing in its future.”
Founded in 1936, Nusenda has grown into New Mexico’s largest credit union. Dearholt pointed out that in today’s fast-changing college athletics world, influenced by NIL, the transfer portal, and revenue sharing, stable local partnerships are more important than ever.
Meaningful Support for Lobo Athletics
The agreement was brokered through UNM Sports Properties and Playfly Sports, UNM Athletics’ multimedia rights partner. The $1.74 million per year will flow into a general fund supporting student-athletes across all UNM sports, helping position the Lobos to compete in a new era of collegiate athletics.
Interim Athletics Director Ryan Berryman called the deal historic.
“This partnership between two of New Mexico’s most recognized brands provides meaningful operating support while honoring the tradition of The Pit,” Berryman said.
The sponsorship includes exterior arena signs to complement existing in-venue branding, like Nusenda’s logo on Bob King Court. The agreement does not cover other facilities such as University Stadium and does not replace Nusenda’s current campus partnerships.
Beyond branding, the partnership also brings tangible benefits to student-athletes. Nusenda will provide financial literacy programming to more than 400 UNM student-athletes, reinforcing the university’s commitment to holistic development both on and off the court.
The Pit Remains The Pit
Perhaps most important to fans: community feedback played a major role in the final naming structure. The identity of The Pit — a symbol of Lobo pride and one of college basketball’s most iconic environments — remains untouched.
Adding “Powered by Nusenda” shows support, not replacement.
For UNM, this is more than a naming-rights deal. It is a strategic investment in sustainability, competitiveness, and community alignment.
For Nusenda, it is a reaffirmation of nearly 40 years of standing alongside the Lobos.
And for New Mexico, The Pit remains what it has always been — just now powered by a partner committed to fueling its future.
