Citizens Bank of Edmond in Oklahoma is planning to create a bank specifically designed for newly enlisted members of the military and their families.
The $350 million-asset bank is working with Nymbus on the digital bank, which is expected to launch next year.
“Collaborating with a partner just as passionate about this mission as myself and the entire Citizens Bank of Edmond team was top of mind,” Jill Castilla, Citizens’ CEO, said in a press release.
“The choice was easy, and we now have an opportunity to leverage a modern, scalable platform that includes best-in-class operational and go-to-market support,” Castilla added.
“We are excited to partner with Jill Castilla, a leading voice in the financial industry, to launch meaningful digital banking services to an often overlooked and underserved segment of customers,” Jeffery Kendall, Nymbus’ chairman and CEO, said in a press release.
“As the bravest members of our society, they face unique circumstances and extraordinary challenges, and financial services shouldn’t be one of them,” Kendall added.
Citizens in May created ROGER, a mortgage platform that focuses on VA lending.
Castilla, a military veteran, decided to launch the product after she and her husband tried to use VA financing to buy a home last year. They eventually abandoned the process because it was taking too long.