A branch of CUNA Mutual Group it has invested in a California technology firm that provides credit union members with an easy way to explore and apply for loans online or via their mobile devices.

CMFG Ventures, LLC, the new venture capital entity of the Madison, Wis.-based CUNA Mutual Group, invested $2.5 million to $5 million in CUneXus Solutions based in Santa Rosa, Calif., about 55 miles north of San Francisco.

CUneXus launched an online and mobile platform in 2013 based on a "shop, borrow and buy" model. For example, a consumer can walk into an auto dealership, open the mobile app and know how much they can borrow and at what rate. Then they can obtain the loan on the spot through the app.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.