TROY, Mich.–Three credit unions have made a total investment of $20 million in Maholo Banking, a CUSO that provides online and mobile banking solutions for credit unions.
Making the investments were Ohio-based Superior Credit Union, Kentucky-based Park Community Credit Union, and Delaware-based Dover FCU.
The CUSO said the additional capital will allow it to “continue the resounding momentum” it has experienced over the past two years and will be heavily allocated toward research and product development related to digital member service.
“We were early adopters of Mahalo Banking and after implementation our members let us know that the solution not only met their needs but also exceeded their expectations,” said Phil Buell, president and CEO of Superior Credit Union. “Mahalo aligns with our business philosophy; they are member-centric, critically-focused and have strong values matched with unparalleled integrity. We have more than 100,000 members and the investment in Mahalo is an investment in our members’ banking future.”
A Shared Vision
Added Mahalo President and CEO Jim Stickley, “We are excited to be partnering with Superior Credit Union, Park Community and Dover Federal. They appreciate our vision as a CUSO to advance our platform to provide the best banking experience possible to all credit unions. We did not look for VC funding – we wanted a credit union-focused investment. This ensures that we are providing the digital banking services that today’s savvy members demand in everyday banking needs and that credit unions have what they need to retain and grow their member base. These credit unions share our vision to have the best digital banking solution on the market.”
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