New Marketing Startup Courts All CU Membership Nooks and Crannies

Nook – a startup co-founded by three veterans of the fintech, marketing and credit union spaces, officially launched Tuesday – according to an announcement from the organization.

Developed as a solution for credit unions looking to connect with specific groups within their membership on a personal level without changing their brand, website or technology stack, Nook’s Niche Experience Platform allows clients to deliver customizable marketing content and educational resources to members based on their demographic. According to Nook’s website, the solution also includes an inbound marketing engine and builds upon a credit union’s existing marketing efforts.

“The resurgence of the niche model is underway, yet almost no credit unions are developing and implementing niche brands,” Austin Wentzlaff, co-founder and CEO of Nook, said. “Fintechs have seized the moment, leveraging new technologies to develop effective niche strategies and are proving the model’s success, just like credit unions did a century ago. People trust institutions they believe truly understand them on a personal level, and building niche experiences is an excellent way to develop that trust. Nook is committed to enabling credit unions to reclaim the niche model they once dominated and empowering them to build deep trust and loyalty, increase share of wallet and profitability, and enhance overall engagement. We are extremely excited to launch this new, game-changing platform for credit unions and look forward to accelerating industry growth for years to come.”

Wentzlaff has over 10 years of credit union, CUSO and fintech startup leadership experience, most recently serving as founder and CEO of consulting firm Fintech Accelerator. Working alongside him as cofounders are Paul Ablack, former founder and CEO of credit union data integration company OnApproach, which was acquired by Trellance in 2019; and former OnApproach chief marketing officer Mark Portz. Ablack is also the founder, CEO and chief investment officer of Anasazi Holdings, LLC, which Nook lists as an investor on its website.

Nook’s 10 strategic advisors include Julie Esser, founder and CEO of Ignite FI; James Robert Lay, CEO of the Digital Growth Institute; consultant Kirk Kordeleski, former CEO of Bethpage Federal Credit Union ($12.9 billion, Bethpage, N.Y.); and THRIVE Strategic Services Founder Anne Legg. The new company is headquartered in Wayzata, Minn.

“I firmly believe that Nook is at the forefront of something truly exceptional for the credit union industry,” Kordeleski said. “Drawing from my experience as a former credit union CEO, I can attest that every credit union grapples with similar challenges related to member loyalty and engagement – precisely the issues that Nook was established to address. Over the past decade, I’ve had the privilege of collaborating with the founders and witnessing firsthand their unwavering commitment to innovation, excellence and the industry. I am excited to contribute to their transformative mission and the positive change it will have in the credit union industry.”

Nook’s current clients include Dort Financial Credit Union ($1.6 billion, Grand Blanc, Mich.), Flagler Credit Union (a division of Dort Financial) and TopLine Financial Credit Union ($792 million, Maple Grove, Minn.)