$6.8 Million Invested in CUSO to Bring Tech Strategy to Credit Unions' Tech Strategy Capital Investment Signals Big Changes in the Market

Jack Smith

Pure IT Credit Union Services, a technology CUSO, has received a $6.8 million investment from a group of forward-thinking credit unions and credit union service organization (CUSO). These organizations chose to invest in Pure IT as an established and trusted partner to further the alignment of IT resources with financial objectives. This recent capital raise allows an expansion of the CUSO’s innovative work, which will help more credit unions compete for, and serve, more members.

The investing credit unions and existing CUSO investors include:

• Lone Star Credit Union (existing)
• Union Square Credit Union (existing and increased its ownership)
• DEXSTA Credit Union (existing)
• People’s Trust Credit Union (existing)
• Linn Area Credit Union (new)
• Ardent Credit Union (new)
• Envisant (fellow CUSO and the service organization of Illinois Credit Union League)

Both new and existing investors are bonded by the belief that innovative technology strategy is the secret for credit union success with limitless possibilities and is the future of the industry.

“What bigger compliment can you have than your own clients investing in you?” asks Jack Smith, Pure IT CEO and Co-Founder. “We were humbled by this generous investment and wear the CUSO badge seriously. As our credit union industry continues to mature and evolve, our mission is to help the industry achieve maturation and evolution to stay relevant and serve even more members. We’re excited about the future and how this new venture will help more credit unions succeed like never before.”

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