PORTLAND, Ore. — Nuuvia, formerly known as Incent, is reporting that Jacksonville, Fla.-based VyStar Credit Union and Phoenix-based Desert Financial Credit Union have invested a combined $4 million in the CUSO, a move the company says will accelerate development of its youth-focused digital banking tools.
Both credit unions will take seats on Nuuvia’s CUSO board and on its Product Technology and Innovation Council, giving them direct input into the company’s technology strategy and future product design, Nuuvia said.
Nuuvia provides white-labeled digital banking tools aimed at engaging younger consumers — an area many credit unions see as critical as their member base ages and an estimated $124 trillion in generational wealth is poised to transfer in coming decades.
‘Members’ Evolving Needs’
“At VyStar, we believe innovation begins with understanding our members’ evolving needs,” said Casey Callinsky, the credit union’s senior vice president of strategic initiatives. “Partnering with Nuuvia allows us to influence the next generation of digital banking experiences … and ensures credit unions like ours remain at the forefront of member engagement and community impact.”
Desert Financial was among the earliest adopters of Nuuvia’s youth banking platform, said Tyler Woodward, the credit union’s chief strategy officer. “The results have exceeded all expectations,” he said. “This investment reinforces our commitment to innovation and shaping solutions, while supporting the financial well-being of our members at every stage of life.”
Expanding Capacity and Accelerating the Roadmap
Nuuvia said the new capital will expand its operational capacity to onboard and support institutions and speed development of its Intelligent Lifecycle Banking platform, which helps credit unions and community banks attract and retain members through personalized, digital-first services.
“Creating meaningful partnerships with forward-thinking institutions like VyStar and Desert Financial is central to our vision of redefining the future of banking,” said Marcell King, Nuuvia’s president and chief operating officer. Their guidance, he added, will be “invaluable” as the company continues building tools to support younger account holders and strengthen financial wellness for families.
Nuuvia said its platform integrates with existing digital banking systems and allows community financial institutions to maintain control of deposits, customer data, card revenue and member relationships.
The company’s youth banking module is already used by dozens of institutions nationwide.
