Constellation Exceeds Goals with Investment from Mission Federal Services, LLC
RALEIGH, N.C. and SAN DIEGO – June 19, 2018 – Constellation Digital Partners, LLC has received an investment from Mission Federal Services, LLC, a Credit Union Service Organization (CUSO) of Mission Federal Credit Union. Constellation founder and CEO Kristopher Kovacs closed the investment May 30 with Ron Araujo, CUSO president of Mission Federal Services, LLC.
The investment from Mission Federal Services, along with funds from other investors, propelled Constellation to exceed its original capital raise goal of $27 million to now $32.5 million. As a result, credit union investment opportunities in Constellation Digital Partners are now closed.
“We are investing in Constellation because it is a cutting-edge future solution that will help transform credit union members’ mobile and online banking experiences by providing them with choice and flexibility that are unparalleled in the credit union industry,” said Araujo. “As an increasing number of credit union members choose technology to meet their banking needs, especially on mobile devices, the platform will allow them to enjoy a highly personalized experience. Constellation will help credit unions keep up with their members’ needs as they continue to evolve.”
The Constellation platform makes it possible for credit unions to access resources needed to provide the digital services members want. Constellation’s patented secure marketplace benefits fintech developers, credit unions, and most importantly, credit union members. With Constellation, credit unions will now be able to engage members in a way that’s never been possible before.
“Credit unions take pride in providing members with financial services that help them reach their goals,” said Kovacs. “Our goal is to put the member experience back in the center of every credit union’s strategy. So, we’re very excited that we’ll be able to help credit unions provide their members with innovative digital features and services to help them reach those goals.”
Fifteen other CUSOs, credit unions and partners have invested in Constellation, including: Coastal Credit Union, Teachers Credit Union, CFCU Community Credit Union, Meritrust Credit Union, Farmers Insurance Federal Credit Union, Georgia’s Own Credit Union, Affinity Federal Credit Union, Kinecta Federal Credit Union, Vizo Financial Corporate Credit Union, TwinStar Credit Union, Nusenda Credit Union, Catalyst Corporate Credit Union, CU Solutions Group, CO-OP Financial Services and CUNA Mutual.
About Constellation Digital Partners, LLC
Constellation is developing a patented, secure and flexible cloud-based marketplace that enables upper to mid-tier credit unions and innovative app developers to provide safe, reliable, and next-generation digital financial service experiences while giving the freedom to compete, innovate, and thrive in the financial services industry. Constellation will redefine what credit unions offer, delivering digital financial services in a way that enables them to place members at the center of their business strategy. Visit www.constellation.coop to learn more.
About Mission Federal Services, LLC
Mission Federal Services, LLC is a Credit Union Service Organization (CUSO) of Mission Federal Credit Union. Mission Fed is a not-for-profit organization providing a wide variety of financial services to meet the needs of its members. With over $3.5 billion in assets, 30 local branches, and more than 230,000 members, Mission Fed is the largest, locally based financial institution exclusively serving San Diego County. Mission Fed enhances the lives of its members through financial education and financial services. In addition, Mission Fed contributes to hundreds of educational and nonprofit organizations. At Mission Fed, your success is our bottom line. All San Diegans are welcome. Federally insured by NCUA and Equal Housing Lender. To learn more, visit www.MissionFed.com.
Constellation media contact:
The Stone Agency
Mission Federal Services, LLC and Mission Fed media contact:
VP, Community Relations & External Affairs