JACKSONVILLE, Fla.--(BUSINESS WIRE)--Nymbus®, a premier provider of cutting-edge financial technology solutions, has secured a strategic investment from Gesa Credit Union, a $5.5B+ Washington-based financial institution serving nearly 290,000 members across the Pacific Northwest. This investment will fuel Nymbus' ongoing mission to help credit unions create sustainable growth in an increasingly competitive market dominated by megabanks and fintech organizations.
"Nymbus is dedicated to solving real challenges faced by credit unions," said Jeffery Kendall, Executive Chairman and CEO of Nymbus. "Gesa's strategic investment validates our approach to helping credit unions break free from the limitations of legacy technology and field of membership constraints. This partnership underscores our commitment to providing best-in-suite solutions that enable credit unions to compete effectively and serve their members better."
Nymbus offers a range of solutions designed to address key challenges faced by credit unions:
- Niche Digital Brands for Deposit Growth: Nymbus provides an end-to-end model for quickly launching new digital credit unions tailored to specific member segments or untapped communities. For example, Michigan State University FCU leveraged Nymbus' "Launch" service to create Collegiate and AlumniFi, two brands focused on serving members throughout their college careers and beyond.
- SMB Platform Tailor-Made for Credit Unions: Recognizing the growing opportunity to serve small businesses, Nymbus has developed a platform that enables credit unions to efficiently serve this segment. The solution includes features such as positive pay, bulk ACH, wires, invoicing, and accounting tools, allowing credit unions to embed banking products into the workflow of small businesses.
- Modernization of the CU Technology Stack: Nymbus offers a comprehensive suite of cloud-born solutions to modernize credit unions' existing digital banking channels and core systems. This includes Nymbus Core, a flexible API-first core banking platform, intuitive online and mobile banking experiences, streamlined digital account opening, and automated loan origination processes.
"At Gesa, we're always looking for ways to stay ahead of the curve and provide our members with the best possible financial services," said Don Miller, President and CEO of Gesa Credit Union. "Our investment in Nymbus reflects our commitment to innovation and growth. With Nymbus' flexible technology, we'll be able to offer our members tailored financial solutions, expand into new markets, and compete effectively with larger financial institutions. This partnership is about ensuring we can continue to meet the evolving needs of our existing and prospective members."
Last year, Nymbus completed its Series D funding round of $70 million, attracting new and repeat investors. With continued support from partners and customers, Nymbus is poised to continue driving growth and delivering exceptional value to all stakeholders.
In addition to being a strategic investor, Gesa's ongoing relationship with Nymbus enables the development of a new digital financial institution brand that will be launched in the coming months. The collaboration demonstrates the robust capabilities and innovative potential of Nymbus' technology, ensuring that both organizations can meet future demands effectively. Don Miller noted: “Developing a new digital brand that will utilize technology provided by Nymbus can be a major and complex undertaking, and Nymbus has delivered expertise and quality, on time, every step of the way to simplify the process.” Gesa’s investment is clearly a vote of confidence in the deepening partnership with Nymbus and the positive future development for both Gesa and Nymbus.”
“This investment from Gesa is crucial to our broader goal of leveling the playing field and enabling credit unions to compete effectively with enhanced accessibility, exceptional experiences, and unequivocal transparency," Kendall said.
About NYMBUS
Nymbus has disrupted the financial services market as an alternative to legacy business models. With Nymbus, any size financial institution can quickly launch a full-service digital bank or migrate to our award-winning core. Whichever growth strategy is right for you, Nymbus buys back decades of lost time to engage and support the entire digital customer journey. For more information, visit nymbus.com.
About Gesa Credit Union
Gesa Credit Union is one of Washington's largest credit unions, with over $5.5 billion in assets, and is nearly 290,000 members strong. Gesa is a full-service financial institution that offers a complete array of consumer, mortgage, and business products and services. Headquartered in Richland, Washington, Gesa operates 31 branches, loan centers, full-service student-operated campus branches at Washington State University, and 13 student-operated high school branches across Washington state. The Gesa Community Foundation, established in 2022, further supports Gesa's ongoing commitment to local communities and charitable giving, which includes support for schools, Local Heroes groups, and community organizations through its Affinity Debit Card Program, as well as through its annual youth scholarships, and free financial and educational resources available to members and the general public. For more information, visit gesa.com.
