JACKSONVILLE, FL – April 12, 2022 – NYMBUS®, a leading provider of banking technology solutions, today announced Michigan State University Federal Credit Union (MSUFCU) has selected Nymbus to launch and grow its new standalone digital brand, AlumniFi.
As the 42nd biggest credit union in the United States and the largest University-based credit union in the world, MSUFCU has a national reputation for excellence that has led to its more than $6.7 billion in assets. With the goal of continued growth by engaging new segments of members, MSUFCU chose Nymbus to quickly open up this addressable market by helping deliver cutting-edge products and services tailored to meet the unique banking needs of MSU and other Michigan-based college and university alumni.
“MSUFCU established our own ‘Lab’ two years ago to drive innovation forward internally and explore new opportunities for growth. One of our long-time goals with this has been to stand up a subsidiary digital brand targeting MSU alumni, whose financial needs and habits match our digital offerings” said MSUFCU President and CEO April Clobes. “We have spoken and collaborated with hundreds of innovative fintechs and startups through our CUSO, the Reseda Group. The Nymbus approach was unlike any other we have seen. We’re thrilled to have them bring our concept to life with the combined skilled services and transformational technology only Nymbus provides for launching a new digital brand quickly and effectively.”
Nymbus integrates everything needed to build out and operate a full-scale digital bank positioned for success on day one. Its Banking-as-a-Service (BaaS) model means skipping a core conversion and the need to hire additional resources. The Nymbus Labs award-winning support team further leads marketing efforts through intentional branding and comprehensive data. This partnership empowers client institutions to offer robust solutions founded on speed, flexibility and meaningful growth.
“To support a growth model that prioritizes exceptional experiences for a specific niche of customers, financial institutions need partners that prioritize intentional innovation and can move at the speed of impactful change,” said Jeffery Kendall, Chairman and CEO of Nymbus. “We value the confidence that MSUFCU has placed in Nymbus for building truly differentiating financial products that will soon be serving the unique banking needs of this significant niche segment of alumni members.”
Nymbus enables banks, brands, and fintechs of any size to accelerate growth through new routes to market. This includes a full suite of banking technology applications available to modernize and optimize existing channels, as well as the operational resources to get to market quickly with a full-scale digital brand immediately positioned at capturing new niche customer segments. Whichever growth path you choose, Nymbus buys back decades of lost time and accelerates your ability to engage and support the entire customer journey.
Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the fifth year, a Top Workplace by the Detroit Free Press for 11 consecutive years, a National Best and Brightest Companies to Work For® winner for six consecutive years, and was named one of the top five Michigan credit unions in Forbes’ Best-in-State Credit Unions 2021 list. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years and has been certified as a Great Place to Work® for nine consecutive years. MSUFCU has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy Louise Herring Award. MSUFCU is headquartered in East Lansing, Mich., has 22 branches, nearly 325,000 members, more than $6.7 billion in assets, and nearly 1,000 employees. For more information, visit msufcu.org.