Of the fintech organization, Glia, announced the formation of a new CUSO with several credit union partners on Thursday. The CUSO, named Glia Technologies, Inc., offers creditors the opportunity to invest in the renewal of “the way they serve the members of the church.”
In an email to CU Time, a spokesperson for Glia explained the reason behind the creation of the new CUSO. “This CUSO was created to offer an opportunity for Glia’s CU clients to invest in Glia’s growth and join a CU organization that is reinventing the way they serve clients in an ‘OnScreen World’ .’” Glia decided to establish this CUSO because of the demand from customers who are trying to form close partnerships with Glia. The focus is not on raising capital for operations (Glia has a balance sheet and recently raised a Series D) but on creating an organization with the next generation of members.
Glia credit unions listed five Glia customers as some of the first investors in CUSO. Credit unions, which sit on CUSO’s advisory board, include:
- Bank-Fund Staff Federal Credit Union of Washington, DC ($6.4 billion in assets).
- First Technology Federal Credit Union of San Jose, Calif. ($16.4 billion).
- Harvard University Employees’ Loan Union of Cambridge, Mass. ($1.1 billion).
- SkyOne Federal Credit Union of Hawthorne, Calif. ($794 million).
- Unitus Community Credit Union of Portland, Ore. ($1.7 billion).
“Members of the Advisory Board will be able to work with Glia’s leadership on how to continue to improve Digital Customer Service for an increasingly digital-first world,” said a spokesperson. “They will be able to join a community of like-minded organizations and discuss their credit unions’ unique member experiences and industry perspectives. This information can help inform the future. ahead with the plan.”
Chief Digital Officer for First Tech FCU, Mike Upton, said, “Glia is helping us connect more closely to the digital-first lives of our people while driving the great news for our credit union. The partnership has been very successful and we are excited to extend our commitment by investing in Glia’s future.
Unitus Community Credit Union Vice President David Fehrer explained why his credit union joined CUSO. “We are impressed with Glia’s innovative digital-first solutions and its deep understanding of the credit union industry. That accelerates the successful delivery of on-screen solutions for our customers. We strongly believe in Glia’s CU-focused approach and are excited to partner closely through our investment,” said Fehrer.
“As a Credit Union Service Organization, we strongly believe in the value of credit unions and are proud to strengthen our collaboration in communities to provide technology that enables dedicated to supporting entrepreneurs on the digital stage,” said Dan Michaeli, CEO and co-founder. -Glia was founded. “This investment is an additional vote of confidence from our customers, and we look forward to expanding relationships with these credit unions as well as others down the line.”