cu de novo collective

What cu de novo collective does

CU De Novo Collective is a 501c3 nonprofit founded in 2021 that operates as a grassroots volunteer movement to support the creation of new (de novo) credit unions and to prevent the merger-driven extinction of small credit unions in the United States. The organization functions as an advocacy and resource aggregator rather than a software vendor: it publishes educational materials on the federal and state chartering process, maintains a database of proposed de novos, and runs the Save One! program that provides technical assistance and grants to at-risk credit unions under $500M in assets. Its commercial model is donation-based; the CUDNC Foundation, established in 2022 as a 501c3, accepts tax-deductible individual and corporate contributions that fund grant programs modeled on CDFI grants covering technical assistance and capital support. In 2025 the foundation launched the Louise Herring Fund, a named fundraising vehicle dedicated to supporting new charter creation.

CU De Novo Collective monetizes indirectly through donor and partner goodwill rather than fees. The organization has assembled an ecosystem of strategic vendor partners — CU*Answers (core processing and digital banking scholarships for de novos), Xtend (back-office and call center), Aux (outsourced collaborative services), CUPolicyPro (free policy and procedure templates), CUSS (shared back-office and cloud-based core development), and iDiz Incorporated (branding and web) — that supply discounted or in-kind services to reduce the capital and operational barriers facing charter applicants. It also maintains a direct regulatory relationship with the NCUA, supporting the provisional charter pilot and the 2022 modernization of the federal charter process, and engages state regulators through NASCUS for state charter mapping. Customer segments include prospective de novo charter applicants (with disproportionate representation from minority-led groups — 7 of 8 recent charters were black-led and 1 Native American-led), at-risk small credit unions seeking to avoid merger, and existing credit unions that benefit from a more vibrant movement. The organization is governed by a seven-member Foundation Board of Directors led by President and Chairman Denise Wymore, with no disclosed parent company, paid headcount, or institutional investment.

Name

cu de novo collective

Legal name

CU De Novo Collective

Website

https://cudenovocollective.org

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

CU De Novo Collective is a 501c3 nonprofit founded in 2021 that advocates for and supports the creation of new U.S. credit unions through grants, vendor partnerships, and NCUA engagement, while helping at-risk small credit unions avoid merger.

Ownership category

akta.pro rank

Product category

Credit Union Industry Advocacy

NAICS

Professional Organizations (81392), Credit Unions (52213)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Community Development Credit Unions (CDCUs) (FSABAEAC)

akta.pro secondary industry

Federated Giving Organizations (e.g., United Way-type) (BPAGAKAG)

Keywords

• Credit union advocacy
• De novo chartering
• Nonprofit foundation grants
• Small credit union support
• Credit union movement

Headquarters

HQ city

Cochiti Lake

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Tax-deductible donations: The CUDNC Foundation is a 501c3 corporation. All donations are tax deductible. Individual and corporate donations support grant programs focused on formation and organization of new credit union charters.
2. Grant programs: Foundation provides grants for de novos and 'at risk' credit unions, structured similar to CDFI grants, covering technical assistance and capital support.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

CU De Novo Collective is a 501c3 nonprofit that advocates for and supports the creation of new (de novo) credit unions through educational resources, grant funding, and access to a partner vendor network offering discounted core processing, digital banking, and back-office services. It also runs the Save One! program to help at-risk small credit unions (under $500M in assets) avoid merger, while engaging with NCUA to modernize the federal chartering process.

Product overview

CU De Novo Collective is an advocacy and support organization (not a software product company) that provides guidance, resources, and grant programs for starting new credit unions and saving existing small credit unions from merger. The organization offers educational resources on the charter process, maintains a database of de novo credit unions in development, operates the CUDNC Foundation for grants, and runs the Save One! program for at-risk credit unions. Their offerings are primarily informational and advocacy-based rather than technology products.

Differentiator

Problem solved

Functional benefit

Products and services

• How to Start a Credit Union Resources Comprehensive guidance and resources for groups seeking to start new credit unions, including information on charter applications, capital raising, and operational setup.
• Save One! Program Program focused on helping small, at-risk credit unions (under $500M in assets) avoid merger by providing resources, technical assistance, and grant programs.
• CUDNC Foundation Grant Programs 501c3 foundation offering grant programs modeled after CDFI grants to provide technical assistance and capital for new de novo credit unions and at-risk existing credit unions.
• Louise Herring Fund Named fund within the CUDNC Foundation supporting the creation and growth of new credit union charters across the United States, honoring pioneering credit union movement advocate Louise Herring.
• New Credit Union Charter Process PowerPoint Downloadable educational presentation explaining the new credit union charter process, including federal and state charter options for prospective organizers.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• CUPolicy ProcoreStrategic or Co-development PartnerCU PolicyPro has generously offered to provide free access for De Novo credit unions to their online system with more than 230 detailed model policies and procedures to help manage compliance and operational challenges. This partnership addresses the lack of templates for policies and procedures that is a major hurdle for new charters.
• CU*AnswerscoreStrategic or Co-development PartnerCU*Answers is a CUSO headquartered in Grand Rapids, Michigan providing services to over 180 credit unions representing 2 million members. Their de novo scholarship program can include core suite, digital banking suite, electronic payments integration, vendor management, web design and hosting.
• XtendcoreStrategic or Co-development PartnerXtend is part of the cuasterisk.com network providing back office support services to credit unions since 2002. They partner with CU*Answers de novo scholarship program to provide shared resources including call center, back office, and outbound member communication at discounted rates.
• AuxcoreStrategic or Co-development PartnerAux serves the credit union movement through outsourced and collaborative services, focusing on those who value collaboration and find ways to make it work in challenging times. They offer shared services for de novos and small credit unions at sustainable prices.
• iDiz IncorporatedminorStrategic or Co-development PartneriDiz Incorporated designed and built the CU De Novo Collective website and branding system, providing hosting and ongoing support. They are experts in credit union branding, growth and digital marketing, and websites.
• NCUAcoreStrategic or Co-development PartnerThe National Credit Union Administration is the primary regulatory body for credit unions. NCUA Vice Chairman Kyle Hauptman pledged to modernize the charter process, resulting in a 2022 process release with online application stages, clearer guidance, and timelines. The organization works directly with NCUA on provisional charter pilot initiatives.
• CUSS (Credit Union Shared Services)coreTechnology or IntegrationCUSS is developing leading-edge back-office and technology services for small and startup credit unions at sustainable prices. Mitchell Stankovic has brought together technology experts and credit union industry leaders to define a native language, cloud-based core and sandbox of additional solutions.
• NASCUSminorStrategic or Co-development PartnerNASCUS has been working with State regulators to locate and publish their charter processes, creating a map of the United States to help navigate state charter options.
• American Share Insurance (ASI)minorOthersAmerican Share Insurance is the only private insurer available for new charters, allowed only in 10 states. The organization advocates that this option should be expanded.
• Brian Gately, ICUDEminorImplementation/ SI/ Consulting PartnerConsultant who has helped multiple groups get their credit unions organized and chartered. He began his career with the NCUA, spent four years at WOCCU in Bolivia, then 15 years with Inclusiv.
• InclusivminorStrategic or Co-development PartnerInclusiv's mission is to help low- and moderate-income people and communities achieve financial independence through credit unions. They provide resources and support for underserved communities.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Inclusiv: Inclusiv (formerly National Federation of Community Development Credit Unions) is the closest comparable organization: it supports CDFI credit unions serving low- and moderate-income communities through capital, technical assistance, and advocacy. It is both a peer and an existing partner of CU De Novo Collective.
• National Credit Union Foundation (NCUF): NCUF is the credit union movement's charitable foundation, providing grants, professional development, and disaster relief. It parallels the CUDNC Foundation's grant-making function within the broader movement.
• African-American Credit Union Coalition (AACUC): AACUC advances the credit union movement within African-American communities through professional development and outreach. It shares CU De Novo Collective's minority-community focus and is relevant given that 7 of 8 recent charters were Black-led.
• Cooperative Development Foundation: CDF supports the development of cooperatives domestically and internationally through grants, training, and disaster relief. It parallels the CUDNC Foundation's role for credit unions within the wider cooperative ecosystem.

Broad incumbents

• Credit Union National Association (CUNA): CUNA is the largest US credit union trade association, providing advocacy, compliance, and education across the entire movement. CU De Novo Collective operates as a niche-focused complement to CUNA's broader lobbying and education mandate.
• America's Credit Unions (formerly NAFCU): America's Credit Unions is the second major federally chartered credit union trade association, focused on regulatory and legislative advocacy. Comparable as a movement-wide advocacy incumbent, though broader than de novo formation.
• World Council of Credit Unions (WOCCU): WOCCU advocates globally for credit unions and supports international development, including work in underserved communities. Comparable in advocacy and technical-assistance scope, though focused internationally.

Emerging players

• Filene Research Institute: Filene is a credit union-focused think tank producing research and innovation programs. It overlaps with CU De Novo Collective's strategy and ecosystem-building work but is research-driven rather than chartering-driven.

Others

• National Association of State Credit Union Supervisors (NASCUS): NASCUS represents state credit union regulators and has partnered with CU De Novo Collective to publish a state-charter process map. Relevant as the regulatory counterpart for state-chartered de novo credit unions.
• Consumer Financial Protection Bureau (CFPB): CFPB is the federal consumer financial regulator that influences access-to-banking policy and community development financial institution programs. It is an indirect stakeholder and adjacent policy counterpart rather than a direct peer.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cu-de-novo-collective

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about cu de novo collective