DES MOINES, Iowa–Curql, a collective of more than 130 credit unions that jointly invest in fintech, said the world’s largest credit union, Navy Federal Credit Union, has now joined Curql Fund II.
According to Curql, the $180.8-billion Navy Federal’s investment “represents a significant commitment to strengthening not only its own member experience but the broader credit union ecosystem.:
The organization added that by aligning with the more than 130 credit unions already participating in the Curql, which essentially acts as a venture capital fund for credit unions, Navy Federal is actively supporting industry-wide innovation, ensuring that credit unions of all sizes have access to cutting-edge technology that enhances member service, security, and operational efficiency.
‘Critical Inflection Point’
“Our industry is at a critical inflection point where credit unions – large and small – must work together to remain competitive in an increasingly digital financial landscape,” Curql Collective President and CEO Nick Evens said in a statement. “Navy Federal’s decision to invest in Curql Fund II is a testament to the power of collaboration and the shared vision of credit unions driving their own innovation. This move benefits not just one institution, but the entire movement, helping credit unions of all sizes access fintech that keeps them relevant and competitive.”
‘Commitment to Collaboration’
The organization said that through Curql Fund II, Navy Federal is joining in a “collective contribution to the development and accessibility of fintech solutions that enhance lending automation, fraud prevention, cybersecurity, and member experience tools—capabilities that many smaller credit unions might not have the resources to build and implement on their own.”
The collective nature of Curql ensures that these solutions are designed with credit unions’ unique needs in mind, it added.
‘Best Possible Service’
“Providing the best possible service to our members is always our focus at Navy Federal, and we also believe strongly in the value all credit unions bring to their hundreds of millions of members across the world,” Navy Federal President and CEO Dietrich Kuhlmann said in a statement. “We’re proud to join the Curql Collective to help advance the goal of removing barriers for credit unions of all sizes and facilitating the implementation of fintech across the industry.”
Vienna, Va.-based Navy FCU has more than 14-million members.
