Nuuvia, a provider of youth banking solutions for community banks and credit unions, announced a combined $4 million investment from VyStar Credit Union and Desert Financial Credit Union into its Credit Union Service Organization (CUSO), aimed at accelerating the development and adoption of its Intelligent Lifecycle Banking platform. The investment is intended to bolster Nuuvia’s mission of collaborating with financial institutions to create youth engagement tools designed to address membership growth challenges.
VyStar Credit Union, based in Jacksonville, Florida, with $14 billion in assets, stands as the second-largest credit union in Florida and 16th nationally. Phoenix-based Desert Financial Credit Union, with $9 billion in assets, is Arizona’s largest local credit union and 36th nationally. Both institutions will join the CUSO as strategic investors.
As part of their investment, VyStar and Desert Financial will receive seats on the CUSO Board of Directors and the Product Technology and Innovation Council. This arrangement provides them with direct input into Nuuvia’s strategic direction and product roadmap.
Casey Callinsky, Senior Vice President of Strategic Initiatives at VyStar Credit Union, commented on the partnership, stating, “At VyStar, we believe innovation begins with understanding our members’ evolving needs. Partnering with Nuuvia allows us to influence the next generation of digital banking experiences, starting with the next-generation of members, and ensures credit unions like ours remain at the forefront of member engagement and community impact.”
This capital injection is expected to accelerate Nuuvia’s product roadmap, enhance its operational capacity to onboard and support new clients, and expand market awareness and adoption of its white-labeled youth banking platform.
Tyler Woodward, Chief Strategy Officer at Desert Financial Credit Union, said, “An intelligent lifecycle banking platform is the future of the credit union movement. We were early adopters of Nuuvia’s youth banking platform, and the results have exceeded all expectations. This investment reinforces our commitment to innovation and shaping solutions, while supporting the financial well-being of our members at every stage of life.”
The financial industry faces an imperative to engage younger consumers, particularly with an aging credit union member base and an estimated $124 trillion in wealth projected to transfer across generations.
Nuuvia’s Intelligent Lifecycle Banking platform is designed to assist financial institutions in attracting and retaining members across different generations through a personalized, digital-first experience that integrates with existing systems. The platform focuses on making it easier for individuals and families to achieve financial goals and improve financial health throughout their lives.
“Creating meaningful partnerships with forward-thinking institutions like VyStar and Desert Financial is central to our vision of redefining the future of banking,” said Marcell King, President and COO of Nuuvia. “Their investment and strategic guidance through our Board and Innovation Council will be invaluable as we continue developing solutions that empower financial institutions to strengthen relationships with the next generation of account holders. Together, we’re building a platform that delivers safe, educational, real-world banking experiences while driving financial wellness for families nationwide.”
The platform ensures that community financial institutions retain complete control over their customer ecosystems, encompassing deposits, card revenue, data, and direct relationships with their account holders.
Nuuvia, formerly known as Incent, specializes in intelligent lifecycle banking solutions for community banks and credit unions. The platform is designed to integrate with a financial institution’s existing digital banking infrastructure, helping institutions acquire, retain, and engage account holders across multiple generations with personalized digital experiences. Nuuvia offers its services as a branded, co-branded, or white-label solution. Its digital youth banking module is currently live with numerous community banks and credit unions across the country, aiming to facilitate youth account acquisition, growth, retention, and the promotion of financial health and long-term loyalty.
