Largest Fintech Fund in Credit Union History Breaks Ground—Curql Closes $360M Fund II

Credit unions pool purpose and capital to lead fintech innovation—not follow it

Credit unions just made history—not by lending, but by investing. Curql Collective, the network of 160+ credit unions, has closed Curql Fund II at $360 million, the largest credit union–led fintech fund ever. That makes it a top‑25 U.S. venture capital closing in early 2025, and brings Curql’s total assets under management to over $600 million Wikipedia, Credit Unions Online, onenevada.org , Business Wire, Yahoo Finance.

With Fund II 40 % larger than its predecessor, the collective’s scale affirms more than just capital—it proves credit unions can build fintech infrastructure collaboratively, on their terms.

Strategic Capital for Strategic Purpose

Curql isn’t a typical VC vehicle. It’s a cooperative ecosystem where credit unions co-invest in early-stage fintech companies—gaining preferred pricing, early rollout access, and advisory input. In return, fintechs get scale, credibility, and institutional alignment. According to CEO Nick Evens:

“This fund … is both a statement and a victory for the credit union movement … we’ll now put this capital to work … helping members at credit unions large and small.” Business Wire

Curql’s portfolio now includes ~50 fintechs—including Zest AI (AI underwriting), Eltropy (digital engagement), LoanStreet (loan trading), Equipifi (BNPL), ModernFi (deposit networks), and Trust & Will (estate planning). Over 30 % of U.S. credit unions now deploy at least one Curql-backed solution Business Wire, Yahoo Finance.

Curql Fund II marks a shift: credit unions are no longer technology consumers—they’re creators of financial infrastructure.

In Context: What Credit Unions Can Learn from One Nevada CU

Take One Nevada Credit Union, a state-chartered co-op headquartered in Las Vegas with $1.53 billion in assets, 75,273 members, and a net worth ratio of 14.9 %—well above NCUA’s well-capitalized benchmark Business Wire onenevada.org, Wikipedia, banknet.com. Its operational leadership and capital strength mirror the financial discipline necessary to drive innovation leadership.

One Nevada’s transition of Steve O’Donnell—a long-tenured operations executive now elevated to CEO—reflects a commitment to continuity and strategic scale. Fund II’s structure suggests a parallel playbook: build operational strength, then deploy capital purposefully to fuel fintech evolution.

Why Curql Fund II Matters to Credit Unions Everywhere

CEOs and VPs gain board-level visibility on fintech innovation.
Smaller credit unions skip costly development cycles and gain early-vote access to fintech pipeline.
The collective’s size makes Curql a peer to midsize VCs—even without VC-based compensation structures.

As Idaho Central CU CEO Brenda Worrell notes:

“Fintech and credit unions are natural allies … Curql makes it happen at scale.” Business Wire, Yahoo Finance

Beyond Capital: Collective Infrastructure as Strategy

This isn’t just fintech capital—it’s cooperative innovation infrastructure. With AUM exceeding $600M and nearly half of U.S. CUs engaged, Curql Fund II shifts disruptor status from fintechs to movement-driven capital models.

At a time when fintech giants chase scale at all cost, Curql fund investors embody another model: shared capital, shared governance, and shared impact. Credit unions now have a stake in how digital finance evolves for their members.

Final Word

Curql Fund II’s close is more than a milestone—it’s a movement declaration. Credit unions are financing their future, collectively. Under-resourced institutions now borrow from a different strength: shared capital, shared innovation, and shared purpose.

If community finance is going to lead digital transformation, it must first demonstrate it can fund—and shape—it.

Curql just closed that chapter. The next one starts now.