OLYMPIA, Wash.–TwinStar Credit Union has joined the board of managers of San Diego-based CU Revest, LLC, a special asset management CUSO. TwinStar joins $3.7 billion Kinecta Federal Credit Union of Manhattan Beach Calif., $3.7 billion Desert Schools Credit Union in Phoenix, $1.7 billion ORNL in Knoxville Tenn., and $1.7 billion GTE Financial in Tampa to round out the five member CU Revest Board.
According to CU Revest CEO Mike Joplin, “We have intentionally held our fifth and final board seat open since we launched the CUSO in 2012, waiting for the right fit. We wanted another large credit union that believes in our business model of bringing value to the credit union movement through the recovery of lost capital and members. TwinStar Credit Union is the perfect partner. A CU Revest client since early 2014, TwinStar has established itself as a market leader in the Pacific Northwest with a great reputation for the perfect balance of entrepreneurial growth and member service.”
TwinStar’s Chief Risk Officer Scott Daukas added, “As a client, we’ve seen first-hand the effect that CU Revest has had on our overall recoveries. We’ve also seen good people, with unfortunate circumstances in their past, be given a chance to rebuild their credit and come back into the credit union fold. The business model makes sense and is unique to the credit union industry, and TwinStar is excited to be an owner in such a progressive company.”