WAYZATA, Minn. — With investments from five organizations, Nook, a provider of relationship-based banking solutions, said it is becoming a credit union service organization (CUSO).
Among those investing in the company is the $2.3-billion Dort Financial Credit Union in Grand Blanc, Mich., which was an early client.
“We are excited to join Nook as an investor and CUSO owner,” Dort Financial CU CEO Brian Waldron said in a statement. “Nook’s solution will change the way credit unions interact with their members in today’s digital world and reestablish credit unions as leaders in relationship-driven banking. We look forward to supporting Nook in their mission to help credit unions succeed.”
Nook said the funds from the pre-seed investors will accelerate its ability to execute on its mission to bring relationship-based banking back to credit unions. By becoming a CUSO, the company said it further cements its commitment to the credit union industry and its members.
‘Leap of Faith’
“It’s incredible to have an innovative credit union like Dort Financial believe in your vision and take the leap of faith to join you as a client and help pilot your solution,” said Austin Wentzlaff, co-founder & CEO of Nook, said in a statement. “It’s even more amazing to witness their immediate success with your platform and have them become the inaugural CUSO owner. We built Nook to solve a very specific problem in the credit union industry, and becoming a CUSO was always a part of the plan. We are beyond excited to have Dort Financial advance us in that direction.”
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