Black Dragon Capital Establishes FinTech Advisory Board with Leading Credit Union Executives

Black Dragon Capital Establishes FinTech Advisory Board

In a significant move aimed at enhancing the financial technology landscape, Black Dragon Capital℠ has officially formed its FinTech Limited Partner Advisory Board, which will be led by distinguished credit union executives. This initiative is particularly noteworthy as it illustrates the firm’s commitment to leveraging industry expertise for greater innovation and community outreach within the financial sector.

The FinTech Limited Partner Advisory Board seeks to cultivate collaboration and innovation among leading credit unions and Credit Union Service Organizations (CUSOs). Black Dragon Capital, known for its focus on disruptive technologies in high-growth industries, is set to foster partnerships that tackle some of the industry's most pressing challenges. This board will not only drive the development of sustainable businesses but also enhance returns on investments for credit unions and their members.

Prominent figures from the credit union sector are stepping into key roles within the board. Notable members include Chuck Fagan, the President and CEO of Velera; Bill Cheney, CEO of SchoolsFirst Federal Credit Union; and Benson Porter, the former CEO of BECU. Under the leadership of Fagan, Cheney, and Porter, the board is expected to steer strategic decisions that align technological advancements with the core mission of credit unions: to serve their communities effectively.

Louis Hernandez Jr., Chairman, and CEO of Black Dragon Capital emphasized the importance of not just adopting new ideas, but creating long-term, sustainable entities aimed at addressing significant industry issues. “We take our responsibility to deploy member capital very seriously,” he stated, underscoring the board's objective to drive meaningful results and innovation in the credit union movement.

The Advisory Board is composed of a diverse group of influential credit unions, including SchoolsFirst Federal Credit Union, First Tech Federal Credit Union, Canvas Credit Union, California Credit Union, AltaOne Federal Credit Union, SECU, and several others. Their collaborative insights will be invaluable for assessing industry challenges and shaping effective solutions. With their combined expertise, these leaders aim to reshape the financial landscape, ensuring credit unions remain competitive and responsive to member needs.

Each member brings a wealth of experience and a strong commitment to innovation in financial services. For instance, Chuck Fagan, who has over 30 years in the industry, previously served as President and CEO of PSCU, steering it towards operational excellence. Meanwhile, Bill Cheney leads the largest credit union in California, which boasts 1.5 million members. His extensive experience in the cooperative movement is poised to influence the board's strategic direction significantly.

Benson Porter, who occupies the pivotal role of FinTech CUSO Chair, has a remarkable track record at BECU and First Tech Credit Union, advocating for better community service while creating economically viable models. His collaborative efforts with Black Dragon Capital are designed to innovate how credit unions leverage technology for better outcomes.

Kevin Lee, a partner at Black Dragon Capital, asserted the significance of addressing crucial industry issues through these partnerships. He stated that the board would utilize its insights to inform strategic decisions, ensuring that the solutions developed are relevant and impactful.

As technological advancements continue to reshape the financial sector, Black Dragon Capital aims to position itself at the forefront of this evolution. The establishment of this FinTech Limited Partner Advisory Board marks a vital step in not only adapting to changes but in also pioneering them within the credit union community. By aligning the skills and knowledge of seasoned executives with the innovative spirit of Black Dragon Capital, this initiative promises to deliver substantial benefits to credit unions and their members, paving the way for a more sustainable and prosperous future in financial services.