CUNA Mutual Group, an insurance, investment and financial services company, has partnered with WithCluth, a FinTech focussed on allowing consumers to refinance high interest consumer loans through a digitally-enabled and frictionless process.
Founded by FinTech entrepreneurs Chris Coleman and Nicholas Hinrichsen, WithClutch helps credit unions better serve its members by leveraging lower rates combined with a seamless user experience. The founders sold their previous company to Carvana in 2017, helped the digital car retailer grow exponentially and started WithClutch in 2020. The company said its mission is help Americans save billions of dollars on their debt.
Through the partnership, CUNA Mutual Group will work to bring WithClutch to more credit unions. CMFG Ventures, the venture capital arm of CUNA Mutual Group, invested alongside Andreessen Horowitz in WithClutch’s Series A funding round to drive its continued growth.
Brian Kaas, president and managing director of CMFG Ventures, said, “Our belief that brighter financial futures should be accessible to all squarely aligns with WithClutch’s mission to address income inequality.
“Together, we’ll work to drive more value to credit union members. WithClutch’s technology can help credit unions transform their relationship with members and cement their competitive advantage in an increasingly digital environment. The partnership and investment in WithClutch reinforces CUNA Mutual’s ongoing commitment to providing digital end-to-end solutions that help more consumers confidently make financial decisions that work for them.”
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