Pure IT Credit Union Services: Comprehensive Company Profile

Background

Founded in 2016, Pure IT Credit Union Services (Pure IT) is a Credit Union Service Organization (CUSO) dedicated to advancing credit unions through strategic technology consulting. The company emerged from a collaboration between a credit union and technology service professionals, aiming to provide cost-effective, cutting-edge, and business-enabling technology solutions. Pure IT's mission is to empower credit unions by aligning technology with their strategic goals, thereby enhancing member services and operational efficiency.

Key Strategic Focus

Pure IT's strategic focus revolves around a three-phase Digital Transformation Model:

1. Assess: Evaluating the current IT environment to identify strengths, weaknesses, and opportunities for improvement.

2. Remediate: Implementing solutions to address identified gaps, optimizing technology infrastructure to support business objectives.

3. Manage: Providing ongoing managed services to ensure sustained performance and alignment with evolving strategic goals.

This model enables credit unions to navigate technological advancements effectively, ensuring their IT ecosystems are robust and responsive to member needs.

Financials and Funding

In June 2022, Pure IT secured a $6.8 million investment from a consortium of credit unions and CUSOs, including Lone Star Credit Union, Union Square Credit Union, DEXSTA Credit Union, People’s Trust Credit Union, Linn Area Credit Union, Ardent Credit Union, and Envisant. This investment underscores the confidence in Pure IT's role as a strategic technology partner and is intended to expand the company's capacity to assist credit unions in enhancing their technological capabilities.

Technological Platform and Innovation

Pure IT distinguishes itself through its proprietary Digital Transformation Model, which integrates strategic assessments, remediation, and managed services. This approach ensures that credit unions can effectively leverage technology to meet their business objectives. The company's emphasis on cloud environments, identity and access management, and strategic advising positions it as a leader in providing tailored technology solutions for credit unions.

Leadership Team

Pure IT's leadership comprises seasoned professionals with extensive experience in technology services and the credit union industry:

Jack Smith, CEO and Co-founder

With over 20 years in sales, operations, and delivery within the technology services sector, Jack has a proven track record in building go-to-market strategies and executing plans to drive revenue and profit growth. Before founding Pure IT, he held leadership roles at Facilitek Services, Glasshouse Technologies, TEKSystems, and Purity Technology. Jack also serves on the boards of Lone Star Credit Union and the NCU-ISAO.

Stacy King, COO and Co-founder

Stacy brings a wealth of experience in operations management, focusing on optimizing processes to enhance service delivery and client satisfaction.

Steve Koinm, CISO and Co-founder

Steve specializes in information security, ensuring that Pure IT's solutions adhere to the highest standards of data protection and compliance.

Trent Henson, CIO and Co-founder

Trent oversees the company's information technology strategy, aligning technological initiatives with business goals to drive innovation.

Greg Lubojacky, CFO

Greg manages the financial operations, ensuring fiscal responsibility and supporting the company's growth objectives.

Terry Nesmith, CTO

Terry leads the technological development, focusing on implementing cutting-edge solutions that meet client needs.

Stacey Hastings, CDO

Stacey drives data strategy, leveraging analytics to inform decision-making and enhance service offerings.

Delia Garrido, SVP, Client Success

Delia ensures client satisfaction by overseeing service delivery and fostering strong client relationships.

Competitor Profile

Market Insights and Dynamics

The credit union industry is experiencing a significant shift towards digital transformation, driven by the need to enhance member services and operational efficiency. This evolution presents opportunities for technology service providers to offer specialized solutions tailored to credit unions' unique requirements.

Competitor Analysis

Key competitors in the credit union technology services sector include:

Arkatechture: Specializes in business intelligence and data analytics solutions for credit unions, enabling data-driven decision-making.

Envisant: Offers a range of services, including payment solutions and strategic consulting, aimed at enhancing credit union operations.

These competitors focus on leveraging technology to improve credit union services, emphasizing data analytics, cloud solutions, and strategic consulting.

Strategic Collaborations and Partnerships

Pure IT has established significant partnerships to bolster its service offerings:

Arkatechture: In December 2020, Pure IT partnered with Arkatechture to provide credit unions with advanced business intelligence technology, facilitating data-driven decision-making.

Envisant: In May 2023, Pure IT collaborated with Envisant to launch Cloud+Union, a bundled service designed to help small credit unions transition to cloud-based infrastructures, enhancing security and compliance.

These partnerships underscore Pure IT's commitment to delivering comprehensive and innovative technology solutions to credit unions.

Operational Insights

Pure IT's strategic approach, characterized by its Digital Transformation Model, positions it as a leader in the credit union technology services sector. The company's focus on tailored solutions, combined with its collaborative partnerships, provides a competitive edge in delivering value-driven services that align with credit unions' strategic objectives.

Strategic Opportunities and Future Directions

Looking ahead, Pure IT aims to expand its service offerings by integrating emerging technologies such as artificial intelligence and machine learning to further enhance credit union operations. The company also plans to strengthen its partnerships and explore new collaborations to broaden its impact within the credit union industry.