HOUSTON–A half-dozen credit unions have jointly invested $6.8 million in Pure IT Credit Union Services, a technology CUSO.
The credit unions and one CUSO that made the investment (along with the status) are:
- Lone Star CU (existing investor)
- Union Square CU (existing and increased its ownership)
- DEXSTA Credit Union (existing)
- People’s Trust CU (existing)
- Linn Area CU (new)
- Ardent Credit Union (new)
- Envisant (a CUSO of the Illinois CU League)
“These organizations chose to invest in Pure IT as an established and trusted partner to further the alignment of IT resources with financial objectives,” Pure IT said. “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 organization said 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.”