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.
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