Connect FSS announces investment from Knoxville TVA Employees Credit Union
Additional capital will propel Connect forward by accelerating the pace of product evolution.
SANDY, UT (February 1, 2021) — Connect Financial Software Solutions (“Connect”), a CUSO providing advanced enterprise digital banking services to credit unions, announces an investment from Knoxville TVA Employees Credit Union. KTVA is a $2.9 billion asset credit union, and a long-time client of Connect.
The investment from KTVA comes on the heels of the credit union’s recent contract extension for digital banking services with Connect. KTVA joins Altra Credit Union, City & County Credit Union, Summit Credit Union, and Wescom Credit Union (via Wescom Resources Group) as investors in the CUSO. Additionally, KTVA now has a seat on the Board of Directors.
With over 75 credit union clients using Connect’s digital banking and new account opening software platforms, the additional capital investment is an ideal way to accelerate product development so the company can continue to stay ahead of the evolving needs of its current and future credit union clients. The funds will be used to support expansion of Connect’s team, bringing on additional talented resources to escalate the pace at which the company brings new technology innovations to market.
“Product innovation is a key area of focus for Connect,” says Grant Parry, President & CEO. “The additional capital will position the company to accelerate our product development efforts and deliver product advancements faster for our credit union clients, so they can more rapidly expand digital banking services and capabilities for their members.”
Denise O’Dell, VP of Automated Services, at KTVA, adds, “We love the Connect business model. Their team is easy to work with and very focused on our needs. Being an owner in the business provides added certainty to KTVA’s long-term strategic plan. We are excited to help Connect accelerate its product development, and we also see this as an opportunity to help the credit union industry overall.”
About Connect Financial Software Solutions
Connect is a technology Credit Union Service Organization (CUSO) focused on the benefit of credit unions and their members. Connect's customizable enterprise digital banking solutions support credit unions' unique individual needs by offering online and mobile banking, bill pay, programming services, and digital account opening and lending applications. Connect has complete user interface design flexibility and provides parity across all digital channels, creating a better user experience. By partnering with more than 150 third-party providers, many of which are selected by clients, Connect offers a wealth of evolving functionality to better meet members' current and future needs. Connect with them at connectfss.com to learn more.
About Knoxville TVA Employees Credit Union
Knoxville TVA Employees Credit Union is a federally insured, not-for-profit financial institution serving over 228,000 members across 24 locations throughout East Tennessee. Membership is available to anyone who lives, works, worships, owns a business, or attends school in the following counties: Blount, Hamblen, Jefferson, Knox, Loudon, Roane, Sevier, Sullivan, or Johnson City. Family members related to any member of Knoxville TVA Employees Credit Union are also eligible to join. For more information about Knoxville TVA Employees Credit Union and their dedication to helping members grow financially, visit tvacreditunion.com.