Reseda Group, a wholly owned CUSO of Michigan State University Federal Credit Union in East Lansing, has invested $6.2 million in eight fintechs.
The $7.6 billion-asset credit uni0on said in a press release that its CUSO made new investments CU Lift Fund, direct auto loan funding; CURevl, college planning and education finance; Debbie, personal financial management; Origence, lending technology; Members Mobile (4G/5G mobile phone services for credit union members; and Ranqx, business lending technology.
Reseda made another investment in Ascent, which handles permissioned data sharing, and Changed, a debt repayment management company.
“We are excited to support these visionary fintech founders and their companies who are transforming the financial landscape and pioneering technologies that redefine the way financial institutions and credit unions engage with their members and customers,” April Clobes, the credit union and CUSO’s president and CEO, said in the release.
“These investments not only demonstrate Reseda Group’s commitment to providing relevant solutions to meet the needs of our members, but also our belief in the power of using technology to reshape the future of financial services,” she added.
The CUSO has invested in 25 different fintech companies.