CU Sol, LLC, a new model credit union service organization (CUSO) seeking to fill the resource gap and provide solutions for emerging credit unions and other financial institutions has a new credit union investor. Rio Grande Credit Union, based in Albuquerque, NM made a recent investment in CU Sol as an A-Share investor.
Mike Athens, Rio Grande CU’s CEO, had this to say about the investment and their involvement in the CU Sol CUSO. “When we were approached with the opportunity to invest in the CUSO, we immediately saw value from multiple angles. First, the efforts to help segments of the community mirror our values. One of our strategic anchors is the fact that we embrace our CO-OP DNA. We believe in the principal of cooperation among co-ops. Certainly, we will begin with helping a population out of abusive cycles.” (Athens is referring to a CUSO initiative rolling out in August of 2020 focused on assisting the victims of domestic violence). “But the long-term prospects of cooperating for the common good of multiple institutions – and the promise of positive solutions for our respective members – are enormous. We are proud to be part of this endeavor.”
US Eagle FCU ($1B in assets located in Albuquerque, NM) and Coast360 FCU ($4000MM, located in Guam, a US Territory) initially collaborated to strategically develop and fund this next-generation product development CUSO that also includes an investment by CU Sol in CU Lending Edge. “CU Lending Edge is the next generation platform for emerging CUs to be able to participate in and play with the big players in the point-of-sale/indirect, and to build and compete in the Multi-Channel lending space,” says Walt Agius, CEO of CU Sol.
“CU Sol’s mission is to provide solutions for emerging credit unions (small to mid-size) with products, services, and programs necessary to improve or enhance their service delivery and ultimately to enhance their bottom lines,” says Gener Deliquina, CEO of Coast360 FCU and one of CU Sol’s initial investor CUs.
“We welcome inquiries and interest from credit unions of all sizes, but also industry suppliers and providers, state leagues and trade associations that are truly interested in helping their CU clients and constituents meet their member service, product/services development, and loan and member growth goals,” says Agius.
For more information on CU Sol, LLC and the CU Lending Edge program, please take a look at the rest of this site or visit CU lending Edge at CULendingEdge.com, or reach out to Walt Agius, CU Sol’s CEO, at Wagius@CUSol.org. You can also use the contact form below.