Clutch Partners with the Virginia Credit Union League to Revolutionize Consumer Banking

Clutch, a leading fintech platform specializing in omni-channel consumer loan and deposit account opening solutions exclusively for Credit Unions, proudly announces its strategic partnership with the Virginia Credit Union League.

With Clutch's innovative platform, Credit Unions gain access to cutting-edge technology aimed at enhancing member experiences while streamlining operations. Leveraging its expertise and collaborative approach, Clutch aims to empower Credit Unions to fulfill their digital aspirations and better serve their members in today's rapidly evolving financial landscape.

Clutch, a Credit Union Service Organization (CUSO), boasts a robust portfolio of north of 110 clients and has garnered significant investment from distinguished entities such as Andreessen Horowitz, TruStage Ventures, and Curql. Founded by Nicholas Hinrichsen and Chris Coleman, both Stanford Business School alumni with a proven track record of success, Clutch is uniquely positioned to drive Credit Unions towards digital transformation while upholding the industry's core values of "People helping people".

"This partnership marks a significant milestone in our mission to revolutionize consumer banking for Credit Unions," said Nicholas Hinrichsen, CEO of Clutch. "We are thrilled to join forces with the Virginia Credit Union League to further our commitment to empowering Credit Unions and their members."

The collaborative ethos of Credit Unions resonates deeply with Clutch's values. "We believe in the power of collaboration and the mantra of 'People helping people'," added Nicholas. "Together with our Credit Union partners, we are dedicated to fostering financial wellness and driving positive change in communities across the nation."

Virginia Credit Union League’s Interim President and CEO, Karima Freeman expressed enthusiasm about the partnership, stating, "This powerful innovative platform takes charge of your credit union’s deposit account opening, loan origination and spearheads the recapturing of your member’s loans. By combining member experiences and streamlining operations, Clutch drives more deposits and loans and builds stronger member relations.”

Brian Kaas, President and Managing Director of TruStage Ventures, one of Clutch's investors, emphasized the transformative potential of this partnership. "TruStage Ventures is committed to bringing innovative solutions to credit unions that complement the breadth of solutions offered by TruStage."

Similarly, Curql highlighted the strategic significance of Clutch's partnership with Credit Union Leagues. "Clutch was one of our first investments and we are really proud to see their products evolve and their fast growth in the industry. We applaud any effort on their part to reach even more Credit Unions and partnering with the League certainly highlights the collaboration we like to see,” said Nick Evens, CEO of Curql Collective.

With Clutch's state-of-the-art platform, Credit Unions can efficiently identify and address members' financial needs, ultimately enhancing member satisfaction and loyalty. By embracing digital innovation, Credit Unions can stay ahead in today's competitive landscape while staying true to their mission of empowering communities.

For more information about Clutch and its partnership with Credit Union Leagues, please visit www.withclutch.com or contact VACUL's David Deacon.

ABOUT THE LEAGUE

Based in Richmond, the Virginia Credit Union League is the state trade association representing the 99 member-owned, not-for-profit credit unions headquartered in the Commonwealth. The League’s many services include regulatory, political and public advocacy; professional development; and a wide range of informational and operational resources. Organized in 1934, the League is the voice of Virginia’s credit unions and works to ensure a thriving credit union movement. Learn more at www.vacul.org