WASHINGTON—CUCollaborate announced it has launched a new Partner Marketplace designed to connect credit unions with what the organization described as a curated network of vetted vendors serving the industry.
According to a statement from CUCollaborate, the marketplace is now live and available to credit unions of all asset sizes.
CUCollaborate said the new offering was developed in response to what it described as an increasingly crowded vendor environment, where selecting the wrong partner can carry significant costs for financial institutions.
According to the organization, the Partner Marketplace features providers evaluated against credit union-specific criteria to help leaders identify and engage with vendors more efficiently.
Two Partner Models
CUCollaborate said the marketplace incorporates two partner models:
- API partners that integrate directly with CUCollaborate’s data and analytics platform to support credit unions serving CDFI loans and members located in low-income designated areas.
- Referral partners selected to address operational and growth challenges identified through CUCollaborate’s work with clients.
According to CUCollaborate, the marketplace launches with 12 partners representing lending, capital markets, strategy, marketing, deposits, member engagement and acquisition.
The inaugural partners include TwoScore, Community Impact Fund, Credit Mountain, The Element Group, National Auto Loan Network (NALN), Brean Capital, TGUC Financial, LoanStar Technologies, TriUnity Foundation, Smarter Savings Association, Wade& and Starlight.
What’s Included
CUCollaborate said each listing includes information on partner specialization, credit union experience and how the offering aligns with institutional growth or operational strategies.
“Credit unions tell us the same thing again and again: there are too many vendors, too little time to evaluate them, and no good way to know who actually understands the credit union model,” Sam Brownell said in the statement.
Brownell added that every marketplace participant has been vetted and that listings are designed around information credit union leaders need before engaging with prospective partners.
According to CUCollaborate, credit unions can browse vendors by category through the marketplace, and vendors interested in participating may apply through the site for consideration.
