Mahalo Banking Raises $20M to Accelerate Mobile and Online Banking Growth

TROY, Mich.–(BUSINESS WIRE)–Mahalo Banka CUSO that provides online and mobile banking solutions to credit unions, closed an Ohio-led $20 million funding round this month Superior Credit Unionbased on Ky. Park Credit Union and Del. Dover Federal Credit Union. The additional capital allows Mahalo to continue the tremendous momentum it has enjoyed over the past two years and will be heavily allocated to research and product development, helping to fuel Mahalo’s proven commitment to continuous innovation. in the digital service to members.

Phil Buell, President and CEO of Superior Credit Union, said, “We were early adopters of Mahalo Banking and after implementation, our members let us know that the solution not only met their needs, but also exceeded their expectations. Mahalo aligns with our corporate philosophy; they are member-centered, critical-thinking, and have strong values ​​with unparalleled integrity. We have over 100,000 members and investing in Mahalo is an investment in our members’ banking future.

Mahalo Banking President and CEO Jim Stickley said, “We are delighted to partner with Superior Credit Union, Park Community and Dover Federal. They appreciate our vision as CUSO to advance our platform to provide the best possible banking experience for all credit unions. We didn’t seek venture capital funding – we wanted a credit union-focused investment. This ensures that we provide the digital banking services today’s savvy members demand for their day-to-day banking needs and that credit unions have what they need to retain and grow their membership base. These credit unions share our vision of having the best digital banking solution on the market.

Buell continued, “Superior’s long-term strategic goal is to be digital first. Our members do their banking online and through their mobile phones. We thought we could invest in another branch or meet our members where they do business, so it was a good business decision to invest in the larger branches they use; mobile and online. Mahalo is our partner in providing solutions for credit unions to enable them to bank the way they want. The solution is durable and built for the long haul.

The Mahalo solutions-oriented platform was built by people who have worked in the credit union industry as well as security to ensure credit unions deliver mobile and online banking experiences using superior architecture. The company provides deep integrations into credit union cores offering robust and secure feature sets across all delivery platforms for a true omni experience.

“The use of digital banking continues to trump the branch as the primary channel for members to engage with their credit union,” Stickley continued. “The future of member service is digital, and those who haven’t yet taken steps to modernize their support and engagement strategies are already behind.

“The Mahalo platform is focused on where credit unions go so their members get the digital experience they deserve. Credit unions are member-driven, and we’re cooperative-driven. We want to offer them a platform to enhance the member experience by providing needed support and knowledge, while fostering a competitive pricing environment to help all asset size credit unions acquire a technological advantage to retain and develop their members.

About Mahalo

Mahalo Bank provides online and mobile banking solutions to credit unions. Based in Troy, Michigan, the Mahalo platform is designed and built on a superior architecture with deep integration to core processing, delivering robust security and feature set across all distribution channels for a true omni experience. . Mahalo Bank is feature rich and competitively priced to help all credit unions gain a technology edge in the marketplace.

For more information about Mahalo Banking, please visit us at mahalobanking.comfollow us on Twitter or log in via LinkedIn.

About the Caisse Populaire Supérieure

Superior Credit Union, Inc., headquartered in Lima, Ohio, is a member-owned financial cooperative serving 100,000 members in 23 offices in western Ohio. With assets of more than $1.4 billion, the credit union offers consumer and mortgage loans, real estate brokerage, investment and retirement planning, insurance services, checking accounts and financial services. savings, as well as services and loans to small businesses. For more information on Superior Credit Union, please visit www.superiorcu.com.

About Park Community Credit Union

Established in 1965 to serve General Electric (GE) Appliance Park employees, Park Community Credit Union serves more than 85,000 members in Kentucky and southern Indiana. With over $1.1 billion in assets, 15 branches, 29 ITMs and the latest in digital banking technology, Park is the largest CDFI (Community Development Financial Institution) in Kentucky. For more information about Park Community Credit Union, please visit www.parkcommunity.com.

About Dover Federal Credit Union

The Dover Federal Credit Union was first established in 1958 by a handful of Air Force employees and civilians at Dover Air Force Base. Today, Dover Federal serves more than 45,000 members, 450 Workplace Partners and has eight locations in the state of Delaware. Dover Federal continues to help its members achieve this, wherever they are. To learn more about Dover Federal Credit Union, visit any of their branches or visit them on the web at www.doverfcu.com.

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