St. Cloud Financial Credit Union Announces Strategic Investment in DaLand CUSO
St. Cloud Financial Credit Union (SCFCU) is excited to announce its strategic investment in DaLand CUSO. This investment, alongside minority contributions from other credit unions and private investors, is set to enhance service offerings and drive innovation in the financial sector.
“The financial industry and the concept of money are both evolving rapidly. It’s essential for us to stay ahead of the curve,” said Jed Meyer, SCFCU CEO. “Our goal is to make a meaningful difference by focusing on the human element of banking and transcending traditional boundaries.”
DaLand CUSO, a 15-year-old organization, specializes in innovative financial technology solutions and consulting services for credit unions. Their expertise enables credit unions to modernize operations, improve member services, and achieve strategic growth. A key outcome of this partnership is the development of St. Cloud’s cutting-edge CU-Digital Asset Vault, designed to offer members enhanced security, convenience, and peace of mind for their digital assets. This product is set to be introduced to SCFCU members and the broader community later this year.
“The data behind money is shifting, and the way money is exchanged is evolving,” said Jeff Levesque, DaLand CUSO CEO. “SCFCU’s proactive approach to future-proofing their operations aligns with our shared values of innovation and forward-thinking. This partnership is a great opportunity to jointly advance the credit union industry.”
St. Cloud Financial Credit Union has recently been recognized with an industry award for the digital asset product developed in collaboration with DaLand CUSO. The award announcement can be found here: SCFCU Award Announcement. SCFCU, in partnership with Altra Federal Credit Union from Onalaska, Wisconsin, now holds majority ownership in DaLand CUSO. This marks the first time DaLand transitions from a sole shareholder structure to a consortium of stakeholders, paving the way for future collaborations.
Continuing its tradition of delivering relevant solutions for credit unions on flexible, extensible, and modern cores, DaLand is thrilled to welcome both SCFCU and Altra Federal Credit Union – two leading credit unions using two of the industry’s best-in-class cores – into the DaLand shareholder body. The collaboration with these two prominent partners will ensure that DaLand remains the industry’s preeminent provider of core-centric products and services.
“We believe in the power of credit unions and this joint ownership will enable more credit unions to explore the digital asset space and manage monetized date in the most secure, safe, and regulatory prudent manner as core functions evolve in the coming years,” added Meyer. “Our investment into DaLand CUSO positions SCFCU at the forefront of blockchain innovation, combining our strengths to offer cutting-edge fintech solutions and keeping credit unions aligned with the future of money.”
About DaLand CUSO:
DaLand CUSO is a leading provider of technology solutions for credit unions, offering innovative products and services that drive financial inclusion and digital transformation. Its mission is to empower credit unions to serve their members better through cutting-edge technology and strategic partnerships. www.DaLandCUSO.com.
About St. Cloud Financial Credit Union:
St. Cloud Financial Credit Union is a 94-year-old credit union with $350 million in assets. They are an organization dedicated to making a difference for all, advocating for people through a member-focused culture, an enthusiastic employee environment, and purposeful action within the community. Their vision is to make a meaningful difference through human connection. www.SCFCU.org.
About Altra Federal Credit Union:
Altra Federal Credit Union, originally established in 1931 as Trane Employees Credit Union in La Crosse, WI, has evolved to serve members across all 50 states and worldwide. With nearly $3 billion in assets, Altra is committed to its mission "To create member loyalty by providing products, services, and guidance that enable our members, staff, and communities to prosper." Their vision, "Helping You Live Your Best Life," highlights their dedication to empowering members and enhancing their quality of life. For more information, visit www.altra.org.