Nymbus CUSO secures landmark $20 million investment by VyStar Credit Union
Marks the industry’s largest-ever Fintech funding round made on behalf of a Credit Union
JACKSONVILLE, FL (April 27, 2021) — NYMBUS®, a leading provider of banking technology solutions, today announced it has completed a significant financing round to advance the development of its new credit union service organization (CUSO), Nymbus CUSO. Founded in March 2021 to help break through barriers to growth, its mission is to connect credit unions with trusted fintech offerings that both simplify technology delivery and enable new growth opportunities.
VyStar Credit Union—the 16th largest credit union in the U.S. with assets totaling $10.85 billion—avidly supports Nymbus CUSO’s mission and value and has invested $20 million towards its establishment.
“VyStar understands the challenges faced by the credit union industry, and we work diligently to identify the right partners like Nymbus that can deliver the disruptive solutions needed to help them thrive in today’s competitive environment,” said Chad Meadows, EVP / Chief Operations Officer at VyStar.
VyStar has a focus on partnering with fintech CUSOs through meaningful investments. Joel Swanson, Chief Member Experience Officer at VyStar, noted, “Today’s record investment speaks volumes to the confidence VyStar has placed in this new CUSO. Nymbus has come up with an entirely new approach for credit unions to innovate quickly for members that incorporates a truly sustainable growth strategy.”
“Based on the overwhelming response that Nymbus CUSO has already received in the market, we clearly address an overlooked opportunity for helping credit unions play to their strengths and make serious growth gains without breaking their technology budgets,” said Jeffery Kendall, Chairman and CEO of Nymbus. “We’re thrilled to collaborate with VyStar in the effort, which is now accelerated with this considerable investment.”
For more information on Nymbus CUSO and how to get involved, visit nymbus.com/cuso.
About Nymbus
Nymbus is a leading provider of financial technology solutions, and its platform is used by credit unions and banks of all sizes to innovate and grow. It has disrupted the financial services market as an alternative to legacy technology providers with a cloud-based and highly extensible technology stack. With Nymbus, any size financial institution can quickly launch a full-service digital brand or migrate to our award-winning core. Nymbus buys back decades of lost time to engage and support the entire digital customer journey. For more information about Nymbus, visit www.nymbus.com
