DCU Opens Center for Finance Startups
Entrepreneurs hoping to make their mark in the finance sector will have access to a new resource center thanks to Digital Federal Credit Union.
The $5.6 billion credit union in Marlborough, Mass., has partnered with Workbar, a network of shared office spaces for businesses, to launch the DCU Center of Excellence in Financial Services.
Located in downtown Boston, the center will be a collaborative workspace for financial startups by offering month-to-month workspace, industry-specific mentorship, access to senior-level executives at DCU, programming, resources, and networking to its members, according to the credit union.
In addition to financial services resources offered by DCU, members of the center will have access to Workbar’s network of coworking spaces, events, programming, and a 700 member-strong community.
Since its soft launch in January, the center has established a core group of growing FinTech startup companies whose focus is on credit scoring, wealth management, and investing, DCU said.
As the facility grows, DCU and Workbar said they hope to drive programming and conversations that encourage more innovation and investment in Boston’s finance-based startups.
“Through this collaboration, we hope to play a vital role in the changing environment of the financial services industry,” said David Araujo, DCU’s vice president of information systems.
A member of the center since April, Ernesto Humpierres, founder of Socrex, a Boston-based aggregator and provider of credit, financial, and background information, said the new resource shows credit unions are some of the most innovative entities in the financial sector.
“By embracing entrepreneurs and change, DCU through its Center of Excellence is lowering the barriers for the appearance of new business models that can have a positive impact on society,” Humpierres said.
Industry relationships are one of the fastest ways a startup can accelerate its growth and market knowledge, said Bill Jacobson, CEO/co-founder of Workbar.
DCU Center of Excellence in Financial Services will officially open June 25.