CUNA’s capital arm launches incubator

CMFG Ventures, the venture capital arm of CUNA Mutual Group, and Filene Research Institute have launched the FinTech Catalyst incubator to test new fintech products and services in credit unions.

According to CUNA Mutual’s website, the FinTech Catalyst Incubator will test “fintech” and “insurtech” products and services that could fill credit union system gaps and create new opportunities for credit unions to grow. Credit unions interested in testing these solutions can sign up to participate in testing an innovative program or idea.

Each fintech product or service will be tested for six months by a group of up to 12 credit unions of varying asset sizes, locations, and consumer demographics.