New CUSO Aims to Transform and Protect the Credit Union Industry
With more members demanding digital banking experiences and cyber-attacks becoming frequent events, credit unions are moving away from sustaining legacy datacenter infrastructure and running in-house cybersecurity programs.
There is a misperception among executives, board directors, and other credit union leaders that NCUA compliance restrictions don’t allow a cloud strategy due to security concerns. Transformative technology is available to organizations at any scale, and there has been a secure cloud revolution happening within the credit union sphere for some time. Financial institutions are quickly recognizing that the risks associated with not being in the cloud far outweigh the risks of being in the cloud.
In light of that, Strategic Link is pleased to announce it has partnered with Think|Stack, a managed IT services provider specializing in cloud and cybersecurity solutions for credit unions that puts “People Before Tech.”
Think|Stack has been serving credit unions for the past decade. In 2020, with the sudden need for secure, remote work and banking due to the COVID-19 pandemic, it saw a surge in demand for secure cloud solutions and recognized now was the time to help the industry take full advantage of technology that previously seemed exclusively available to fintechs and big banks.
With a $5 million investment from four organizations — CU Solutions Group, Christian Financial Credit Union, Mutual Credit Union, and Liberty Savings Federal Credit Union — Think|Stack recently became a Credit Union Service Organization (CUSO).
“[Becoming a CUSO] made a lot of sense for us because our continued focus is going to be on credit unions,” said CEO Chris Sachse in an interview with CU Broadcast. “We felt like we had a tremendous opportunity with credit unions to help them move to the cloud. Given the timing of everything nowadays, that’s certainly now more important than ever.”
Think|Stack emerged in early 2021 as one of the most uniquely focused CUSOs in the industry — delivering a packaged and easily consumable cloud (AWS), cybersecurity, and networking “stack” of products and services.
“It’s no secret that cybercrime is currently at an all-time high, and it will only continue to rise,” said Cameron Smith, NWCUA Vice President of Strategic Partnerships and Resources. “Drawing on their deep understanding of credit union operations and concerns, Think|Stack is uniquely positioned to help Northwest credit unions address the latest industry-wide threats and remain secure while they transform in the digital space.”