To date, nine partners spanning nationwide and totaling $12 billion in assets, have committed to investing in the platform. The partners are Coastal Credit Union, CFCU Community Credit Union, Meritrust Credit Union, Farmers Insurance Federal Credit Union, Georgia’s Own Credit Union, Affinity Federal Credit Union and Nusenda Credit Union.
Combined, the credit unions represent a significant user base of more than 1.1 million members. Constellation is continuing to offer investment opportunities to make ownership of the platform more accessible for a variety of credit unions. The initial credit union investors are being joined by CO-OP Financial Services and CUNA Mutual, who are also investing in the new CUSO.
In addition, the marketplace will create a new service-based economy where interested digital service developers can also get involved and become service providers and partners on the new platform. Developers can create tiles or services, then credit unions can seek out and select services within the marketplace. Nine service provider partners are already on board: Telrock, Connect Financial Software Solutions, Obloco, Corporate One Federal Credit Union, Gro Solutions, Xtensifi, Insuritas, QuarterSpot, and Narmi.
To learn more about Constellation or get involved, visit www.constellation.coop.
Coastal Credit Union and eight partners are developing a secure and flexible cloud-based marketplace that enables upper to mid-tier credit unions and innovative app developers to provide safe, reliable, and next-generation digital financial service experiences while giving the freedom to compete, innovate, and thrive in the financial services industry. Constellation will redefine what credit unions offer, delivering digital financial services in a way that enables them to place members at the center of their business strategy.