Painted Hills CUSO, LLC, an innovative Credit Union Service Organization (CUSO) focused on balance sheet management, is proud to announce significant investments from six distinguished credit unions: Rogue, MAPS, Carter, Community Financial, Skyla, and Central Willamette Credit Unions. This strategic infusion of capital marks a pivotal step in Painted Hills CUSO’s mission to streamline collaborations between fintech companies and credit unions.
Founded in 2022, Painted Hills CUSO is dedicated to simplifying the process for fintechs to work effectively with credit unions. By navigating the intricate memberization rules within the credit union industry and leveraging the National Credit Union Administration’s (NCUA) Fintech lending rules regarding participations, Painted Hills CUSO is set to become a linchpin in fostering symbiotic relationships between these two sectors.
“This investment is a testament to the faith these six credit unions have in our vision and capabilities,” said Kirk Drake, President and CEO, Painted Hills CUSO, LLC. “Our goal is to create a set of tools where credit unions and fintechs can collaborate efficiently for mutual benefit and, ultimately, for the benefit of credit union members.”
A significant aspect of this collaboration involves partnering with Quilo to utilize their cutting-edge real-time balance sheet management platform, GLASS, and their Loan fully digital Participation and Syndication platform. This partnership enhances decision-making processes, improves risk management, and unlocks new opportunities for growth and innovation.
The investments from Rogue, MAPS, Carter, Community Financial, Skyla, and Central Willamette Credit Unions will enable Painted Hills CUSO to expand its services, invest in technology, and strengthen its position as a leader in credit union-fintech partnerships.
“We are excited about the potential that Painted Hills CUSO brings to the table,” said Matt Stephenson, President and CEO, Rogue Credit Union. “Their approach not only aligns with our commitment to innovation but also opens up new avenues for us to serve our members more effectively.”
As Painted Hills CUSO embarks on this journey, it is poised to redefine how credit unions and fintechs interact, creating a more dynamic, efficient, and member-focused financial ecosystem.
About Painted Hills CUSO, LLC:
Painted Hills CUSO, LLC is a balance sheet management CUSO formed in 2022 via a partnership with Credit Union 2.0. It specializes in facilitating effective collaborations between credit unions and fintech companies, adhering to industry regulations and leveraging advanced technological solutions.
President and CEO
Painted Hills CUSO, LLC
Quilo is a New York based financial technology company delivering cutting-edge technology that empowers community financial institutions to digitize balance sheet optimization and trade, settle and service loan syndication and participations in a fully compliant manner with minimal operational impact.