Nymbus, a firm providing technology solutions for banks and credit unions, has launched its own credit union service organization and selected a veteran industry leader to run the operation.
John Janclaes, who most recently served as president and CEO of Partners Federal Credit Union, has been named the first president of Nymbus CUSO, effective immediately. The firm is intended to help credit unions grow by connecting them with fintechs that can help grow revenue while improving relationships with members.
“To thrive in the new digital age, credit unions have an immediate opportunity to leverage niche digital banking approaches to create new revenue streams and expand reach while continuing to deliver the personalized experiences and differentiated value they are known for,” Janclaes said in a press release. “I’m proud to lead Nymbus CUSO and continue my mission as a digital advocate for credit unions in their quest for growth and forward-thinking strategies.”
Jeffery Kendall, Nymbus’s chairman and CEO, said the CUSO’s creation “signifies a commitment to credit unions by providing strategic partnerships and flexible technology that will create sustainable growth and loyal members. For those wanting to innovate, Nymbus CUSO moves past traditional vendor thinking to create supportive structures for credit unions ready to grow and reach new niche markets.”
Janclaes has spent more than 30 years in the credit union industry, starting in 1989 as an executive vice president and chief business development officer at Logix Federal Credit Union. In 2004 he took the helm as president and CEO of Partners FCU, the credit union chartered to serve Disney employees and their families. In his time at Partners, Janclaes oversaw five-fold asset growth, and the credit union today holds more than $2.1 billion of assets.
The Partners FCU board has appointed several members of the executive team to a CEO council that assumed leadership of the credit union following Janclaes's departure earlier this year. The council is responsible for day-to-day operations and oversight while keeping the credit union focused on the evolution of its strategic plan, according to a statement.
The council is expected to remain in place for approximately six months while a nationwide CEO search takes place. The recruitment firm DDJ Myers has been brought in to help find the credit union's next CEO, and will consider internal candidates as well as those from outside the organization.
This story was updated at 4:56 P.M. on March 30, 2021.
