Growing Forward: How Curql is Transforming the Credit Union Industry
Curql is driving innovation in the credit union industry through a multi-faceted approach aimed to identify, invest in, and provide a voice for the development of technology to accelerate credit union success.
Investing Strategically
Traditionally, credit unions have lacked the resources, time, and expertise to navigate the hypersensitive strategic investment market. Curql has been a game-changer, revolutionizing the way credit unions partner with fintech to serve their members and position credit unions for success in the digital age. In fact, this is the largest commitment of capital for a CUSO in the history of the credit union movement in the United States. The $252 million Curql Fund I features 68 limited partners, with over $105 million already invested in 20 fintech companies and more investments on the horizon. Curql partners with professional fund managers and a committee of credit union executives with investment expertise to oversee the fund's investments.
Staying Ahead of the Curve
What sets the Curql Fund apart from other strategic investment companies is its unwavering commitment to fulfill the mission to bring fintech to credit unions. “We’re diversifying our money across the entire spectrum of different technologies that can affect credit unions and make them more efficient, reduce costs, and attract more members,” explains Curql Collective’s President & CEO Nick Evens. By prioritizing convenience, accessibility, and personalization, Curql has invested in fintech solutions that resonate with credit unions and their members, enhancing their experiences and satisfaction. By working closely with fintech companies, Curql has gained insights into the latest advances in technology for credit unions. This has enabled Curql to continuously shape portfolio companies to stay ahead of the curve in meeting members' evolving expectations.
Additionally, Curql remains attentive to the regulatory and economic factors that specifically impact credit unions. Anticipating future needs is essential for credit unions to remain nimble and proactive.
Collaborating for Success
Curql’s fintech ecosystem provides numerous advantages to its credit unions, including financial gains and access to innovative services to benefit credit unions across their operations, from employees to all member segments. Kelly Gonzales from TDECU comments on their partnership with portfolio company Illuma, stating, “From a project perspective, this is one of the most seamless projects that we’ve implemented. We had amazing enrollment.” Bob Listen from Community West Credit Union shares his collaborative experience with portfolio company DefenseStorm, noting, “It wasn’t just a solution. It really felt like a partnership.”
While strategic investing is at the core of the mission, Curql Collective has also made significant progress in fostering industry collaboration and modernization. For its limited partners and subscribers alike, Curql provides credit unions and CUSOs with access to a wealth of fintech resources, enabling networking, learning, collaboration, and strategy development for enhanced member service. Jake Darabos from Abound Credit Union shares his experience, stating, “As a member of the Curql Subscription, we have gained immense value. That value is driven through introductions to and awareness of cutting-edge technologies in the Credit Union industry, as well as access to a network of Fin Techs and Credit Unions that make meaningful collaboration more accessible.”
Spurring Innovation
Curql’s strategic efforts have had a ripple effect across the credit union industry, inspiring other organizations to embrace new technologies and improve their offerings. By setting new standards and leading by example, Curql has influenced the direction of the entire credit union industry, igniting a wave of innovation and strategic investment and paving the way for the industry to thrive.
In a world where big banks, big tech, and many fintech entrepreneurs are trying to disintermediate credit unions, Curql is a force for credit union innovation, ensuring that credit unions have access to cutting-edge technology that their members demand, and keeping credit unions relevant and vibrant during the greatest technological revolution in history. By embracing innovation and fostering partnerships, Curql is driving positive transformation and enabling credit unions to better serve their members' evolving needs.