ROCKY HILL, Conn.–Nutmeg State Financial Credit Union has acquired technology and professional services provider DaLand Solutions.
The credit union reports DaLand, based in Aurora, Colo., will operate as a wholly owned CUSO of the $450-million CU.
Nutmeg State became a DaLand customer in 2015, initially relying on the firm for assistance in selecting its new core processing platform. The two organizations have undertaken many joint projects since, the credit union explained.
“My partner, Jon Ungerland, and I both have strong credit union roots,” said DaLand co-founder Dan Micale. “We’ve always considered DaLand as more than just another credit union vendor. When Nutmeg approached us about becoming a CUSO, it made perfect sense as the next logical step for our company.”
According to Micale, the two organizations share a common vision of technology and what it means to the future relevance of the credit union industry. Operating as a CUSO will give DaLand access to resources they wouldn’t have otherwise had available, DaLand said.
“We’ve created what we consider a next-generation CUSO,” added Ungerland. “From the early stages in the dialogues about this concept and through the legal formation of DaLand CUSO, Nutmeg has been committed to intentionally structuring the CUSO to ensure we’re even more focused and aggressive in pursuing a wide range of important technology initiatives designed to directly impact credit union relevance.”
Micale will become the CUSO’s chief relationship officer, while Ungerland, formerly CEO of DaLand, is now COO. Ungerland remains responsible for DaLand’s technology products and professional services delivery, the company said.
“The relationship between our two organizations quickly grew from a mere client/vendor
relationship to one of a partnership in the truest sense of the word,” said credit union CEO John Holt.
“The DaLand folks were like employees – a part of our extended family. It was readily apparent that DaLand shares our commitment to keeping credit unions relevant through the effective use of technology.”
Holt said he plans to help DaLand become an even bigger influence in the credit union marketplace.
Effective immediately, Jeff Levesque, the credit union’s EVP and COO, has assumed the role of DaLand CEO.
“We wouldn’t have made this move if we didn’t believe we can have a significant impact on the credit union movement,” said Levesque. “We have the right team and the right tools in place to make a real difference.”