AURORA, Colo. and Rocky Hill, Conn. – June 13, 2018: DaLand Solutions, a leading provider of technology and professional services to credit unions nationwide, today announced that it has been acquired by Nutmeg State Financial Credit Union ($450M; 39,000 members) and will operate as a wholly owned CUSO of the credit union. Nutmeg State became a DaLand customer in 2015, initially relying on the firm for assistance in selecting its new core processing platform. The two organizations have undertaken many joint projects since.
“My partner Jon Ungerland and I both have strong credit union roots,” said DaLand co-founder Dan Micale. “We’ve always considered DaLand as more than just another credit union vendor. When Nutmeg approached us about becoming a CUSO, it made perfect sense as the next logical step for our company.” According to Micale, the two organizations share a common vision of technology and what it means to the future relevance of the credit union industry. Operating as a CUSO will give DaLand access to resources they wouldn’t have otherwise had available.
“We’ve created what we consider a next-generation CUSO,” added Ungerland. “From the early stages in the dialogues about this concept and through the legal formation of DaLand CUSO, Nutmeg has been committed to intentionally structuring the CUSO to ensure we’re even more focused and aggressive in pursuing a wide range of important technology initiatives designed to directly impact credit union relevance.”
Micale now takes on the role of Chief Relationship Officer, while Ungerland, formerly the CEO, is now COO. Ungerland remains responsible for DaLand’s technology products and professional services delivery.
“The relationship between our two organizations quickly grew from a mere client/vendor relationship to one of a partnership in the truest sense of the word,” said credit union CEO John Holt. “The DaLand folks were like employees – a part of our extended family. It was readily apparent that DaLand shares our commitment to keeping credit unions relevant through the effective use of technology.” Holt says he plans to help DaLand become an even bigger influence in the credit union marketplace.
Effective immediately, Jeff Levesque, the credit union’s EVP and COO, has assumed the role of DaLand CEO. While the CUSO expects little disruption in its day-to-day operations, the new DaLand team promises that exciting developments are on the horizon.
“We wouldn’t have made this move if we didn’t believe we can have a significant impact on the credit union movement,” said Levesque. “We have the right team and the right tools in place to make a real difference.”
About Nutmeg State Financial Credit Union:
Nutmeg State Financial Credit Union (NSFCU) is a member owned, not-for-profit, financial cooperative. Founded in 1936, NSFCU has grown to be one of the largest credit unions in the country. Growth has been steady, but NSFCU has never deviated from its original premise: to offer the finest rates and services while maintaining financial stability. Those principles have served us well over the years. Additional information is available at www.nutmegstatefcu.org.
About DaLand Solutions:
Based in Aurora, Colorado, DaLand Solutions is a multifaceted technology and professional resources company that serves credit unions exclusively. With extensive experience in every level of credit union operations, the DaLand team is divided into three groups: project management, which manages many different types of technology implementations; brokerage, which handles core, EFT and other technology searches; and enterprise services, which develops software and custom technology solutions. Additional information is available at www.dalandsolutions.com