#USA #East Lansing #Nymbus #MSUFCU #Pillur

MSU Federal Credit Union Wins Finopotamus Tekkie Core Innovation Award

Jacksonville, Fla. – In a significant achievement for the Michigan State University Federal Credit Union (MSUFCU), it has been awarded the 2026 Finopotamus Tekkie Core Innovation Award in recognition of its pioneering collaboration with Nymbus, a modern core banking platform dedicated to U.S. banks and credit unions. This award highlights MSUFCU's innovative efforts in launching Pillur, a tailored banking solution for small and medium-sized businesses (SMBs).

The partnership between MSUFCU and Nymbus began in 2022 when they worked together to develop AlumniFi and Collegiate, two digital-first brands aimed at addressing the needs of college students and alumni. Building upon this successful collaboration, MSUFCU identified a crucial market opportunity to provide better banking services to small businesses that have historically been underserved by traditional banking entities.

Utilizing the Nymbus business banking platform, MSUFCU successfully transitioned to Pillur, integrating its business banking operations with those acquired from Algonquin State Bank and McHenry Savings Bank. A significant aspect of this initiative involved segmenting the acquired customer base by their specific banking needs, thereby migrating them to the Pillur platform. This strategic approach has enabled MSUFCU to optimize its service delivery to SMBs, creating a structure that is easily repeatable for future acquisitions.

Historically, many banking acquisitions have struggled with the integration of customer bases, often bogged down by the complexities of aligning distinct operational structures. However, the launch of Pillur provides MSUFCU with a dedicated brand that simplifies the integration process and ensures that acquired clients receive the tailored banking services they require. This flexibility allows MSUFCU to execute future mergers and acquisitions without compromising on member experience, transforming the acquisition process into a strategic advantage rather than a mere operational necessity.

Pillur operates as a cloud-native, API-first core banking solution, which is implemented as a sidecar to MSUFCU's existing infrastructure. This unique architectural design enables the credit union to maintain daily branch operations while also launching a distinct digital brand. Notably, it ensures real-time data continuity to promote a seamless transition during migration.

Since its launch, Pillur has shown remarkable growth by catering specifically to the technological desires of business owners, offering digital-first banking alongside essential financial tools that assist with payments, cash flow, and everyday operations. The initiative has successfully transitioned over 1,100 SMB members and more than 2,500 accounts from the acquired banks onto the Pillur platform, managing over $64 million in deposits and $172 million in loans with minimal disruptions. This impressive migration marks an industry-first achievement in the targeted re-platforming of SMBs at such a substantial scale, producing a staggering 611% increase in deposits and a 1,357% increase in members within just one year.

Ami Iceman Haueter, the Chief Experience Officer at MSUFCU, remarked on the organization's mission to enhance member experiences through technology. “We are not in this to be technologists. We are here to create great experiences, and the technology enables us to do that,” she stated. “Pillur is a great example of that approach—using technology to create a distinct experience for business members while giving us the flexibility to grow and evolve without disrupting the experience our existing members know and trust.”

Acknowledging MSUFCU's transformative journey, Jeffery Kendall, Chairman and CEO of Nymbus, praised the leadership displayed by the credit union throughout this process, stating, “Together we have demonstrated how credit unions can use mergers and acquisitions as a growth accelerator for core modernization rather than an operational necessity.”

About Nymbus
Founded in 2015, Nymbus provides a cloud-based, extensible banking platform designed to drive growth and adaptability for community banks and credit unions. Its approach modernizes legacy core systems, allowing institutions to effectively meet the needs of both in-person and digital-first clients. Nymbus specializes in facilitating the launch of vertical banking strategies via a flexible sidecar core model.

About MSU Federal Credit Union
Established in 1937, MSUFCU remains dedicated to offering a secure financial environment for its members, supporting them in achieving their financial goals and aspirations. Recognized for its innovative practices and employee satisfaction, MSUFCU serves over 415,000 members across 35 branches and manages over $9.3 billion in assets. Headquartered in East Lansing, Michigan, it strives to continuously improve member experiences and bolster community support.

For further insights into Nymbus and MSUFCU, please visit their respective websites.