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Four credit union organizations pooled together $5 million to invest in the new CUSO Think|Stack, which specializes in credit unions with a focus on cloud and cybersecurity issues.
Think|Stack, a managed IT services company headquartered in Baltimore, announced on Tuesday that it had secured the funding from the four organizations to help provide credit unions with better digital experiences, data collection, and cloud and cybersecurity services.
"For 10 years we were a small family business, two brothers and an amazing team of passionate rebels, helping credit unions with digital transformation and cybersecurity. With our deep credit union knowledge and technology expertise, we are uniquely positioned to understand industry threats, systems and the total technology ecosystem, to make sure credit unions are secure. This CUSO investment will allow us to expand delivery of our cyber and cloud services within the credit union industry," Think|Stack CEO Chris Sachse stated.
According to the statement, the following credit union organizations joined together to make the $5 million investment: CUSG; Christian Financial Credit Union in Sterling Heights, Mich. ($789 million in assets, nearly 60,000 members); Mutual Credit Union and Liberty Savings Federal Credit Union in Jersey City, N.J. ($127.6 million in assets, more than 20,000 members).
The president/CEO of Christian FCU, Patty Campbell, said, "Credit unions are trusted organizations for our members. Maintaining that trust requires credit unions to become more and more accessible as interaction with members continues to move into digital spaces. Our digital platforms should maintain the connection and humanity our members have always enjoyed. This means our vendors must understand credit unions are different from other financial institutions. Think|Stack has been an accelerator for us to get where we want to go in our technology operations and security."
Tuesday's statement said Think|Stack will use the investment to hire new talent, improve its infrastructure and open locations and remote offices nationwide.
Sachse added, "This investment will help us impact the industry on a larger scale."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
