Pure IT Credit Union Services, a technology CUSO, has received a $6.8 million investment from several credit unions and credit union service organizations (CUSO).
These organizations decided to invest in Pure IT as an established partner to further the alignment of IT resources with financial objectives. This raise allows for an expansion of the CUSO’s ongoing work, which will assist credit unions compete for, and serve, more members.
The investing credit unions and existing CUSO investors include:
- Lone Star Credit Union (existing)
- Union Square Credit Union (existing and increased its ownership)
- DEXSTA Credit Union (existing)
- People’s Trust Credit Union (existing)
- Linn Area Credit Union (new)
- Ardent Credit Union (new)
- Envisant (fellow CUSO and the service organization of Illinois Credit Union League)
New and existing investors believe that an innovative tech strategy is essential for credit union success with many possibilities and is the future of the industry.
Jack Smith, Pure IT CEO and Co-Founder, noted:
“What bigger compliment can you have than your own clients investing in you? We were humbled by this generous investment and wear the CUSO badge seriously. As our credit union industry continues to mature and evolve, our mission is to help the industry achieve maturation and evolution to stay relevant and serve even more members. We’re excited about the future and how this new venture will help more credit unions succeed like never before.”
At Pure IT, they have built a practice around “solving IT issues for Credit Unions.”
They help Credit Unions “identify gaps in their infrastructure and then work together with [their] clients to resolve those gaps.”
The firm’s staff of experienced architects “provide clear documentation and have open and transparent conversations to help Credit Unions understand what is working well, what may need improvement, what may be a business or security priority, as well as how much those improvements may cost.”