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Finance

Wells Fargo Introduces Small Businesses to Alternative Options for Financing and Technical Assistance

Wells Fargo | April 25, 2022

Small Businesses
Today, Wells Fargo announces the Small Business Resource Navigator, an online portal helping connect small business owners to potential financing options and technical assistance through Community Development Financial Institutions (CDFIs) across the country. The portal was launched in collaboration with the non-profit Community Reinvestment Fund, USA, and was made possible by the Wells Fargo Open for Business Fund. By visiting www.bizresourcenavigator.com and completing a short questionnaire, small businesses may be connected to CDFIs or business advisory resources in their area.

“As the uncertainties of the COVID-19 pandemic persist, small businesses continue to need our help. We see a lot of value in supporting a resource like this to help small businesses connect to as many options as possible. The Small Business Resource Navigator connects small business owners to potential capital assistance provided by a CDFI who could help meet their needs, and serves as a major time saver for busy entrepreneurs allowing them to stay focused on their business.”

Derek Ellington, head of Small Business at Wells Fargo

Since 2015, Wells Fargo has provided more than $500 million in philanthropic grants and investments to CDFIs that help underserved small businesses. Ellington added, “We’ve long understood the impact of CDFIs. They are an important part of our financial ecosystem embedded in communities across America providing small businesses in need with capital and other assistance they may not otherwise qualify for through traditional financing. We are proud to expand our support of the work CDFIs do by helping route small businesses to these vital organizations for lending, technical assistance and support.”

"Wells Fargo has been dedicated to helping small businesses for many years, but in particular, getting them through the current environment,” says Patrick Davis, SVP of Strategy with Community Reinvestment Fund, USA. "This support is extremely timely as it helps connect small businesses with CDFIs who can potentially provide them access to funding and resources that will help owners get back on their feet. CDFIs are an important part of the financial ecosystem and play a critical role in deploying capital to small businesses with a history of underrepresentation, and it's great to see that Wells Fargo is so committed to the success of small business across the U.S.”

In 2020, Wells Fargo announced the Open for Business Fund, a roughly $420 million small business relief effort focused on small businesses hardest hit by COVID-19, including Black, African-American, Hispanic, Asian, Native American, women and many others. Grants were awarded to more than 235 CDFIs and nonprofits serving small businesses across the U.S. The Open for Business Fund is estimated to serve more than 152,000 small businesses and preserve or create more than 255,000 jobs. Roughly 85% of small businesses served by Open for Business Fund grantees are projected to reach racially and ethnically diverse entrepreneurs.

Ann Finnegan, president of NDC Community Impact Loan Fund, an Open for Business Fund grant recipient and participating CDFI on the Small Business Resource Navigator network says, “We are excited for the opportunity to connect with more small businesses in need. This platform is an important tool to support our lending mission to minority and women-owned small businesses and non-profits.”

About Wells Fargo
Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.

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SouthState Forms Small Business Banking Team

PRnewswire | July 26, 2023

SouthState Bank recently launched a comprehensive small business banking team to meet the growing demand in its Southeastern footprint. "Offering our small business customers a line of products that fits their needs, accompanied by well-rounded, knowledgeable bankers and a library of small business resources, are enhancements we know business owners across the Southeast will benefit from," says Richard Murray, SouthState president. "Small business owners make local economies thrive, and SouthState is committed to supporting both." Matt Vegter was promoted to director of small business banking to grow and serve SouthState's small business sector. A banker for 15 years, Vegter helped to develop a small business loan program, Business Lending Express, which streamlined and simplified the underwriting process for small business loans. This program created efficiencies for both the bank and small business clients by decreasing loan origination costs and reducing the time to decision. Vegter holds a bachelor's degree in finance from Southeastern University and a master's degree in business administration from Stetson University. He's a graduate of the Florida School of Banking as well as the Stonier Graduate School of Banking at the University of Philadelphia. Vegter has built a team of experienced small business bankers, pulling from capable bankers at SouthState and other financial institutions. Members of the team include the following: Jack Baker brings 16 years of banking experience to the small business banking team. Most recently, he served as a SouthState branch manager in Jacksonville, Florida. He's also held the roles of assistant branch manager, mortgage loan officer and teller during his career. Holton Bell joins SouthState after several years working in client relations, most recently at Addicus LLC in Alabama. He brings experience as a private banker at BBVA Compass Bank and as a financial advisor at Raymond James. Krystle Mall moves into the small business banking role after 10 years as a SouthState branch manager, most recently in Gastonia, North Carolina after relocating from the Myrtle Beach/Conway area of South Carolina, where she began her banking career with SouthState in 2004. Ross Marley continues to serve Charleston, South Carolina, most recently as a business banker before joining the small business team. A member of SouthState since 2015, he's also worked as a financial services representative and lead credit analyst. Mike Marshall comes to SouthState from Intercoastal Financial Group in Fort Pierce, Florida, where he served as a finance broker since 2018, cultivating relationships with dealers, brokers and lenders. Other past career roles include director of retail sales, market sales manager and general manager at Drivetime LLC. Ray Merritt joined SouthState as a financial services representative in 2011, holding roles of increasing responsibility ever since. Most recently, Merritt served as the branch manager in Conway, where his branch led the Grand Strand market in goals for two consecutive years. Brian Moon also moves from the branch manager role in Tucker, Georgia, to the small business banking team. He has almost 20 years of banking experience and knowledge from working at Bank of America, Wells Fargo, SunTrust and SouthState. Adam Odom joins the small business team after seven years as a branch manager for SouthState in Columbia, South Carolina. He began his career in banking in 2001, previously working at Wells Fargo, SunTrust and BB&T. Lauren Thompson spent the last eight years serving SouthState's Richmond market as a branch manager before moving to small business banking. She gained additional experience as a personal banker for First Enterprise Bank and retail banker with Woodforest National Bank. SouthState also welcomes the following new hires to its private wealth and middle market banking teams: Phillip R. Garrison – private wealth advisor, Charlotte, North Carolina – brings many years of experience and deep expertise in trust administration and insurance consulting to his new role. Prior to joining SouthState, he was a senior fiduciary officer for a large national bank. He received a B.B.A. in Trust and Wealth Management from Campbell University. Mike Maguire – private wealth relationship manager, Jacksonville, Florida – spent 16 years with a large regional bank and managed their wealth division in North Florida for the last 10 years. In addition, his career experience includes 23 years with Barnett Bank in various leadership roles throughout the state of Florida. Maguire earned a bachelor's degree in business administration with a concentration in finance from the University of Central Florida and is a graduate of the American Bankers Association's National Commercial Lending Graduate School at the University of Oklahoma. Mia Mendez – private wealth associate, Jacksonville, Florida – comes to SouthState following a 10-year career at Truist. She will support Maguire, whom she worked with previously in Jacksonville under the BB&T banner. During her 17 years in the financial services industry, Mendez has held roles including banker assistant, foreclosure specialist and wealth support specialist. She holds a bachelor's degree in sociology from George State University. Brian Combs – middle market business development executive, Richmond, Virginia – most recently worked as a member of the Mid-Atlantic Corporate Banking group at PNC, where he managed relationships with mid-sized and large companies headquartered throughout most of Virginia. Previously, Combs has also held relationship management roles in Middle Market Banking at Wells Fargo and Corporate Banking at SunTrust. During his career, Combs has managed relationships with many publicly-traded, private-equity owned, and family-owned businesses in various industries. About South State Bank SouthState Corporation is a financial services company headquartered in Winter Haven, Florida. SouthState Bank, N.A., the company's nationally chartered bank subsidiary, provides consumer, commercial, mortgage and wealth management solutions to more than one million customers throughout Florida, Alabama, Georgia, the Carolinas and Virginia. The bank also serves clients coast to coast through its correspondent banking division. Additional information is available at SouthStateBank.com.

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Technology

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Businesswire | August 04, 2023

Tide, the leading digital business financial platform, has today launched its improved Tide Accounting tool, powered by Sage, to help more small businesses meet their accounting needs directly from one place - their bank account.At present SMEs have to connect multiple solutions to their accounting software - their bank account, payments providers, payroll and more. Managing these systems is complex, time-consuming and costly. To address this, Tide Accounting has streamlined the process into one user-friendly experience. Tide members can get paid, manage their bills, track their business performance and file their taxes – all via an embedded accounting service directly from their Tide account.The simple tool, launched last year for cash accounting, has now been upgraded to introduce standard accrual-based accounting. It’s the first solution of its kind embedded in a bank account. Standard accrual-based accounting recognises revenue when it's earned and expenses when they’re incurred. Most businesses in the UK use this method. Adding this service to the platform means Tide solutions are available to many more SMEs.Today’s launch strengthens Tide's mission to save SMEs time and money when running their businesses by adding to the platform’s banking, finance and admin solutions. These already include invoice generation, payment and payroll services and expense cards. In addition, businesses using Tide Accounting can utilise their records to access credit opportunities via the Tide Partner Credit marketplace. Available to existing Tide Members, Tide Accounting supports SMEs across their business journey, bringing together the following features: Get Paid Invoice customers to get paid on time, and spot unpaid invoices. Tide members can automate invoice matching and payment reminders with Invoice Assistant. Manage bills Pay bills at the right time to manage cash flow. Track business performance Keep financials in check to grow the business by reconciling accounts and balancing the books, directly from the Tide app. Members can categorise transactions, adding VAT rates and receipts. File taxes Submit tax returns accurately and securely. This includes automatically generated estimates for sole traders that make it easier to fill in self-assessment tax forms. In addition, members can submit their VAT return via Making Tax Digital with HMRC-compliant software, straight from their Tide account. New members opening a bank account through Tide’s Company Formation service will benefit from a free six-months access to Tide Accounting. Vinay Ramani, Chief Product Officer at Tide, said: “For small business owners, accounting can be very time-consuming and intimidating as they have to move transactions from their bank account to their accounting tools. Tide Accounting introduces accrual-based accounting embedded in a bank account - unlocking real convenience and ease of use without the stress and hassle. And once their accounting is done well - those businesses become more attractive for credit opportunities via the Tide Partner Credit marketplace. In this way our strategy to help a small business with their overall banking, finance and admin needs comes to life.” Neil Watkins, EVP Product at Sage, said: “We know that technology is vital to the creation, survival, and growth of SMEs across all sectors and like Sage, Tide is on a mission to help small business owners get their work done more efficiently by streamlining and simplifying processes. “We are pleased Tide chose Sage Accounting and Compliance as a Service (ACaaS) as a key component of their Tide Accounting offering, enabling small businesses to do their business banking, bookkeeping and accounting in one seamless experience. Today’s newest development to support accrual based accounting will help even more small businesses simplify their money admin, to radically simplify their essential bookkeeping and accounting tasks.” About Tide Tide is the leading provider of UK SME business accounts and one of the fastest-growing FinTechs in the UK. Tide is live in the UK and India with over 500,000 members in the UK and more than 50,000 in India. We’re just getting started! Tide is transforming the business banking market. Our platform not only offers business accounts and related banking services, but also a comprehensive set of highly connected admin tools for businesses, such as full integration with accounting systems (live for our UK members, coming soon to India). Using advanced technology, all solutions are designed with SMEs in mind.

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Businesswire | August 03, 2023

Nymbus, a premier provider of cloud-based financial technology solutions, is proud to announce that Michigan State University Federal Credit Union (MSUFCU) has partnered with Nymbus to deliver Nymbus SMB, a feature-rich, compliant, “bank in a box” solution designed to enable Credit Unions to serve the rapidly growing Small and Medium Business (SMB) market. Recognizing the dominance of three megabanks that hold 47% of the market and the significantly smaller market share of community banks and credit unions at just 18%, Nymbus has identified a pressing need for its Nymbus SMB initiative to help level the playing field and amplify the competitiveness of credit unions. The collaboration between MSUFCU and Nymbus will pioneer a next-generation approach, enabling credit unions and regional banks to gain an edge in the intensifying SMB banking market. Through this partnership, Nymbus and MSUFCU are stepping up to fill the void left by traditional banking tech providers, which have struggled to evolve and adequately equip credit unions to capitalize on emerging market opportunities such as the rapidly expanding SMB sector. In the wake of its recent $70 million Series D funding round—where MSUFCU also participated as an investor—Nymbus is ramping up its support for credit unions, working diligently to bridge the digital divide. Through its Nymbus SMB solution, Nymbus equips credit unions with essential digital tools to better serve SMBs, consequently expanding their market presence and establishing them as key strategic partners for SMB growth. This solution includes cost-effective services like invoicing, cash management tools, cash flow analytics and a modern digital banking platform operating through a standalone technical infrastructure. Jeffery Kendall, CEO of Nymbus, expressed his enthusiasm about the collaboration. "This partnership represents a pivotal opportunity for credit unions as we equip them with the modern tools and services they need to effectively meet the needs of the growing SMB market," Kendall said. "Our Nymbus SMB solution is a game changer that delivers value and fills the gap left by legacy credit union technology providers." April Clobes, President and CEO of MSUFCU, also shared her insights. "Aligning with Nymbus on this vital project is a strategic move for MSUFCU, as it allows us to enhance our product offerings and deliver top-tier services to small business owners. Through this collaboration, we’re showing our dedication to the businesses that are the connectors of our communities,” remarked Clobes. The partnership with MSUFCU underscores Nymbus’ position as a frontrunner in the fintech arena, understanding that credit unions can serve small and medium businesses at a lower cost than the current market offerings and with a level of service that keeps those costs down. Nymbus continues redefining the future of financial services, fostering growth and creating unparalleled value for credit unions and the small business community. About Nymbus: Nymbus has disrupted the financial services market as an alternative to legacy business models. With Nymbus, any size financial institution can quickly launch a full-service digital bank or migrate to our award-winning core. Whichever growth strategy is right for you, Nymbus buys back decades of lost time to engage and support the entire digital customer journey. About MSUFCU: Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the fifth year, a Top Workplace by the Detroit Free Press for 11 consecutive years, a National Best and Brightest Companies to Work For® winner for six consecutive years, and was named one of the top five Michigan credit unions in Forbes’ Best-in-State Credit Unions 2021 list. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years and has been certified as a Great Place to Work® for nine consecutive years. MSUFCU has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy Louise Herring Award. MSUFCU is headquartered in East Lansing, Mich., has 24 branches, nearly 350,000 members, more than $7.5 billion in assets, and nearly 1,100 employees.

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SouthState Forms Small Business Banking Team

PRnewswire | July 26, 2023

SouthState Bank recently launched a comprehensive small business banking team to meet the growing demand in its Southeastern footprint. "Offering our small business customers a line of products that fits their needs, accompanied by well-rounded, knowledgeable bankers and a library of small business resources, are enhancements we know business owners across the Southeast will benefit from," says Richard Murray, SouthState president. "Small business owners make local economies thrive, and SouthState is committed to supporting both." Matt Vegter was promoted to director of small business banking to grow and serve SouthState's small business sector. A banker for 15 years, Vegter helped to develop a small business loan program, Business Lending Express, which streamlined and simplified the underwriting process for small business loans. This program created efficiencies for both the bank and small business clients by decreasing loan origination costs and reducing the time to decision. Vegter holds a bachelor's degree in finance from Southeastern University and a master's degree in business administration from Stetson University. He's a graduate of the Florida School of Banking as well as the Stonier Graduate School of Banking at the University of Philadelphia. Vegter has built a team of experienced small business bankers, pulling from capable bankers at SouthState and other financial institutions. Members of the team include the following: Jack Baker brings 16 years of banking experience to the small business banking team. Most recently, he served as a SouthState branch manager in Jacksonville, Florida. He's also held the roles of assistant branch manager, mortgage loan officer and teller during his career. Holton Bell joins SouthState after several years working in client relations, most recently at Addicus LLC in Alabama. He brings experience as a private banker at BBVA Compass Bank and as a financial advisor at Raymond James. Krystle Mall moves into the small business banking role after 10 years as a SouthState branch manager, most recently in Gastonia, North Carolina after relocating from the Myrtle Beach/Conway area of South Carolina, where she began her banking career with SouthState in 2004. Ross Marley continues to serve Charleston, South Carolina, most recently as a business banker before joining the small business team. A member of SouthState since 2015, he's also worked as a financial services representative and lead credit analyst. Mike Marshall comes to SouthState from Intercoastal Financial Group in Fort Pierce, Florida, where he served as a finance broker since 2018, cultivating relationships with dealers, brokers and lenders. Other past career roles include director of retail sales, market sales manager and general manager at Drivetime LLC. Ray Merritt joined SouthState as a financial services representative in 2011, holding roles of increasing responsibility ever since. Most recently, Merritt served as the branch manager in Conway, where his branch led the Grand Strand market in goals for two consecutive years. Brian Moon also moves from the branch manager role in Tucker, Georgia, to the small business banking team. He has almost 20 years of banking experience and knowledge from working at Bank of America, Wells Fargo, SunTrust and SouthState. Adam Odom joins the small business team after seven years as a branch manager for SouthState in Columbia, South Carolina. He began his career in banking in 2001, previously working at Wells Fargo, SunTrust and BB&T. Lauren Thompson spent the last eight years serving SouthState's Richmond market as a branch manager before moving to small business banking. She gained additional experience as a personal banker for First Enterprise Bank and retail banker with Woodforest National Bank. SouthState also welcomes the following new hires to its private wealth and middle market banking teams: Phillip R. Garrison – private wealth advisor, Charlotte, North Carolina – brings many years of experience and deep expertise in trust administration and insurance consulting to his new role. Prior to joining SouthState, he was a senior fiduciary officer for a large national bank. He received a B.B.A. in Trust and Wealth Management from Campbell University. Mike Maguire – private wealth relationship manager, Jacksonville, Florida – spent 16 years with a large regional bank and managed their wealth division in North Florida for the last 10 years. In addition, his career experience includes 23 years with Barnett Bank in various leadership roles throughout the state of Florida. Maguire earned a bachelor's degree in business administration with a concentration in finance from the University of Central Florida and is a graduate of the American Bankers Association's National Commercial Lending Graduate School at the University of Oklahoma. 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During his career, Combs has managed relationships with many publicly-traded, private-equity owned, and family-owned businesses in various industries. About South State Bank SouthState Corporation is a financial services company headquartered in Winter Haven, Florida. SouthState Bank, N.A., the company's nationally chartered bank subsidiary, provides consumer, commercial, mortgage and wealth management solutions to more than one million customers throughout Florida, Alabama, Georgia, the Carolinas and Virginia. The bank also serves clients coast to coast through its correspondent banking division. Additional information is available at SouthStateBank.com.

Read More

Technology

Tide Helps More SMEs Simplify Accounting With ‘First-of-its-Kind’ Upgrade

Businesswire | August 04, 2023

Tide, the leading digital business financial platform, has today launched its improved Tide Accounting tool, powered by Sage, to help more small businesses meet their accounting needs directly from one place - their bank account.At present SMEs have to connect multiple solutions to their accounting software - their bank account, payments providers, payroll and more. Managing these systems is complex, time-consuming and costly. To address this, Tide Accounting has streamlined the process into one user-friendly experience. Tide members can get paid, manage their bills, track their business performance and file their taxes – all via an embedded accounting service directly from their Tide account.The simple tool, launched last year for cash accounting, has now been upgraded to introduce standard accrual-based accounting. It’s the first solution of its kind embedded in a bank account. Standard accrual-based accounting recognises revenue when it's earned and expenses when they’re incurred. Most businesses in the UK use this method. Adding this service to the platform means Tide solutions are available to many more SMEs.Today’s launch strengthens Tide's mission to save SMEs time and money when running their businesses by adding to the platform’s banking, finance and admin solutions. These already include invoice generation, payment and payroll services and expense cards. In addition, businesses using Tide Accounting can utilise their records to access credit opportunities via the Tide Partner Credit marketplace. Available to existing Tide Members, Tide Accounting supports SMEs across their business journey, bringing together the following features: Get Paid Invoice customers to get paid on time, and spot unpaid invoices. Tide members can automate invoice matching and payment reminders with Invoice Assistant. Manage bills Pay bills at the right time to manage cash flow. Track business performance Keep financials in check to grow the business by reconciling accounts and balancing the books, directly from the Tide app. Members can categorise transactions, adding VAT rates and receipts. File taxes Submit tax returns accurately and securely. This includes automatically generated estimates for sole traders that make it easier to fill in self-assessment tax forms. In addition, members can submit their VAT return via Making Tax Digital with HMRC-compliant software, straight from their Tide account. New members opening a bank account through Tide’s Company Formation service will benefit from a free six-months access to Tide Accounting. Vinay Ramani, Chief Product Officer at Tide, said: “For small business owners, accounting can be very time-consuming and intimidating as they have to move transactions from their bank account to their accounting tools. Tide Accounting introduces accrual-based accounting embedded in a bank account - unlocking real convenience and ease of use without the stress and hassle. And once their accounting is done well - those businesses become more attractive for credit opportunities via the Tide Partner Credit marketplace. In this way our strategy to help a small business with their overall banking, finance and admin needs comes to life.” Neil Watkins, EVP Product at Sage, said: “We know that technology is vital to the creation, survival, and growth of SMEs across all sectors and like Sage, Tide is on a mission to help small business owners get their work done more efficiently by streamlining and simplifying processes. “We are pleased Tide chose Sage Accounting and Compliance as a Service (ACaaS) as a key component of their Tide Accounting offering, enabling small businesses to do their business banking, bookkeeping and accounting in one seamless experience. Today’s newest development to support accrual based accounting will help even more small businesses simplify their money admin, to radically simplify their essential bookkeeping and accounting tasks.” About Tide Tide is the leading provider of UK SME business accounts and one of the fastest-growing FinTechs in the UK. Tide is live in the UK and India with over 500,000 members in the UK and more than 50,000 in India. We’re just getting started! Tide is transforming the business banking market. Our platform not only offers business accounts and related banking services, but also a comprehensive set of highly connected admin tools for businesses, such as full integration with accounting systems (live for our UK members, coming soon to India). Using advanced technology, all solutions are designed with SMEs in mind.

Read More

MARKETING AND NETWORKING, TECHNOLOGY

MSUFCU and Nymbus Unite to Elevate Services for SMBs: A Transformative Collaboration Focused on Meeting Needs of Small and Medium Businesses

Businesswire | August 03, 2023

Nymbus, a premier provider of cloud-based financial technology solutions, is proud to announce that Michigan State University Federal Credit Union (MSUFCU) has partnered with Nymbus to deliver Nymbus SMB, a feature-rich, compliant, “bank in a box” solution designed to enable Credit Unions to serve the rapidly growing Small and Medium Business (SMB) market. Recognizing the dominance of three megabanks that hold 47% of the market and the significantly smaller market share of community banks and credit unions at just 18%, Nymbus has identified a pressing need for its Nymbus SMB initiative to help level the playing field and amplify the competitiveness of credit unions. The collaboration between MSUFCU and Nymbus will pioneer a next-generation approach, enabling credit unions and regional banks to gain an edge in the intensifying SMB banking market. Through this partnership, Nymbus and MSUFCU are stepping up to fill the void left by traditional banking tech providers, which have struggled to evolve and adequately equip credit unions to capitalize on emerging market opportunities such as the rapidly expanding SMB sector. In the wake of its recent $70 million Series D funding round—where MSUFCU also participated as an investor—Nymbus is ramping up its support for credit unions, working diligently to bridge the digital divide. Through its Nymbus SMB solution, Nymbus equips credit unions with essential digital tools to better serve SMBs, consequently expanding their market presence and establishing them as key strategic partners for SMB growth. This solution includes cost-effective services like invoicing, cash management tools, cash flow analytics and a modern digital banking platform operating through a standalone technical infrastructure. Jeffery Kendall, CEO of Nymbus, expressed his enthusiasm about the collaboration. "This partnership represents a pivotal opportunity for credit unions as we equip them with the modern tools and services they need to effectively meet the needs of the growing SMB market," Kendall said. "Our Nymbus SMB solution is a game changer that delivers value and fills the gap left by legacy credit union technology providers." April Clobes, President and CEO of MSUFCU, also shared her insights. "Aligning with Nymbus on this vital project is a strategic move for MSUFCU, as it allows us to enhance our product offerings and deliver top-tier services to small business owners. Through this collaboration, we’re showing our dedication to the businesses that are the connectors of our communities,” remarked Clobes. The partnership with MSUFCU underscores Nymbus’ position as a frontrunner in the fintech arena, understanding that credit unions can serve small and medium businesses at a lower cost than the current market offerings and with a level of service that keeps those costs down. Nymbus continues redefining the future of financial services, fostering growth and creating unparalleled value for credit unions and the small business community. About Nymbus: Nymbus has disrupted the financial services market as an alternative to legacy business models. With Nymbus, any size financial institution can quickly launch a full-service digital bank or migrate to our award-winning core. Whichever growth strategy is right for you, Nymbus buys back decades of lost time to engage and support the entire digital customer journey. About MSUFCU: Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the fifth year, a Top Workplace by the Detroit Free Press for 11 consecutive years, a National Best and Brightest Companies to Work For® winner for six consecutive years, and was named one of the top five Michigan credit unions in Forbes’ Best-in-State Credit Unions 2021 list. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years and has been certified as a Great Place to Work® for nine consecutive years. MSUFCU has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy Louise Herring Award. MSUFCU is headquartered in East Lansing, Mich., has 24 branches, nearly 350,000 members, more than $7.5 billion in assets, and nearly 1,100 employees.

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