The investments by VyStar Credit Union, BCU and Reseda Group, a wholly-owned CUSO of MSU Federal Credit Union, will be used to further develop Aperture, the company’s innovative collection and credit risk platform.

Headquartered in Jacksonville, Fla., the $12 billion VyStar Credit Union is one of the 15 largest credit unions in the country. VyStar regularly seeks out fintech organizations that can provide best-in-class products and services to its members, as well as investment opportunities for the cooperative.

“VyStar works to improve the lives of our members and the communities we serve,” said Eric Weatherly, SVP, Loan Administration at VyStar Credit Union. “Investing in AKUVO will allow us to be a greater force for change for our members and the credit union community.”

The $5.5 billion BCU is headquartered in Vernon Hills, Ill., in the greater Chicago area. This fast-growing credit union has a strong focus on helping members achieve sustainable financial wellbeing.

“Our goal is to empower members to discover financial freedom, and I am optimistic AKUVO’s data science solutions will help us accelerate our ability to do just that,” comments, Jim Block, EVP, COO at BCU. “We anticipate rapid growth over the next decade, and the Aperture platform has the promise to scale with our membership.”

Reseda Group, CUSO of the $6.8 billion MSUFCU, completed its second round of AKUVO funding with this new investment. Headquartered in East Lansing, Mich., the CUSO first invested in AKUVO in January 2022 while MSUFCU also signed on to use Aperture.

“AKUVO’s Aperture platform will change the way we provide members with individual credit solutions that maximize recoveries. Aperture’s data-based decisioning also ensures we meet regulatory and legal requirements,” said Jim Hunsanger, Chief Risk Officer for MSUFCU and its CUSO, Reseda Group. “We’re excited to be an AKUVO client and early investor.”
All three credit unions will have a representative on AKUVO’s Advisory and Product Boards as a result of their investment position.