Navy Federal Credit Union has announced a strategic partnership with the Curql Collective, a group of over 130 credit unions that collaborate to invest in fintech solutions. This move emphasizes Navy Federal's dedication to advancing the credit union sector.
"Fintech partnerships are essential for providing credit union members with access to innovative experiences and products, which allow them to better manage their finances," stated Aaron Aggerwal, chief lending officer at Navy Federal.
Navy Federal joins a growing number of credit unions involved with the Curql Collective. Nick Evens, president and CEO of the Curql Collective, expressed enthusiasm about this collaboration: "Credit unions thrive when we work together to drive innovation. Curql is proud to welcome Navy Federal as part of the 130+ credit unions investing together to bring forward fintech solutions that strengthen the credit union movement and enhance member experience."
By investing in Curql Fund II, Navy Federal becomes part of an initiative focused on improving areas such as lending automation, fraud prevention, cybersecurity, and member experience through fintech.
Dietrich Kuhlmann, president and CEO of Navy Federal, added: "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. 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."
Navy Federal Credit Union was established in 1933 with only seven members but now serves over 14 million members globally as the world's largest credit union. The organization is member-owned and not-for-profit. It caters primarily to Department of Defense personnel and their families.
The Curql Collective aims to provide timely technology solutions tailored for credit unions through its partnerships with more than 40 fintech firms. This ensures that participating organizations can remain competitive within an evolving financial landscape.