Chuck Fagan, President and CEO of Velera, Bill Cheney, CEO of SchoolsFirst Federal Credit Union, and Benson Porter, Former CEO of BECU and FinTech CUSO Chair at Black Dragon Capital℠ to Lead the Board's Executive Committee
BOCA RATON, Fla., Aug. 5, 2025 /PRNewswire/ -- Black Dragon Capital℠ ("Black Dragon"), a global multi-phased investment firm focused on disruptive technologies in high growth industry segments, has announced the formation of its FinTech Limited Partner Advisory Board.
The Black Dragon Capital℠ FinTech Limited Partner Advisory Board focuses on collaboration, innovation and community engagement between the most advanced credit unions and CUSOs in the industry and the intense operating focus and domain expertise of Black Dragon Capital. The collaboration will seek to build the most important and successful FinTech organizations that solve the most significant issues in the industry, creating sustainable long-term businesses, and drive strong returns to members and investors in the credit union industry.
The initial members of the Advisory Committee will comprise some of the most innovative and influential credit unions and CUSOs, leading the industry on strategy and innovation in partnership with Black Dragon:
Credit Union Veterans in Key Leadership Roles
Prominent members of the credit union community have joined forces with Black Dragon Capital because of the firm's history of building and transforming market-shaping companies, driving operational execution and providing value to investors. The Black Dragon team is composed of trusted leaders who have been part of the credit union movement for decades and are committed to seeing it evolve and succeed.
"We are not satisfied with simply exposure to new ideas. The real value to our partners and the industry is to create long-term sustainable companies that address the most significant issues in the industry and to provide returns to the credit unions who partner with us and their members," said Louis Hernandez Jr, Chairman, CEO and Managing Partner of Black Dragon Capital, "We take very seriously the responsibility to deploy member capital, and we have assembled the most advanced leaders in the credit union movement to drive results and innovation."
The FinTech limited Partner Advisory Board is led by Chair Benson Porter, and Co-Chairs Bill Cheney and Chuck Fagan:
Charles E. ("Chuck") Fagan III, Co-Chair, Black Dragon Capital℠ FinTech Limited Partner Advisory Board
Chuck Fagan was appointed president and chief executive officer of Velera, a credit union service organization (CUSO) and integrated financial technology solutions provider, in January 2024. Prior to the combination of PSCU and Co-op Solutions (now branded as Velera), Fagan served as President and CEO of PSCU for nine years. He has more than 30 years of experience in the credit union industry and previously served as President and CEO of the Credit Union Executives Society (CUES) for more than two years. Fagan is an advocate for the credit union industry, currently serving as a member of Visa's Executive Client Council, chair of the board for Lumin Digital and a member of the board of directors for Kinective.
Bill Cheney, Co-Chair, Black Dragon Capital℠ FinTech Limited Partner Advisory Board
Bill Cheney is the CEO of SchoolsFirst Federal Credit Union, the largest credit union in California and the third largest in the nation, with 1.5 million members and $34 billion in assets. He has worked in the credit union movement for more than 35 years. He is a recognized leader in the cooperative movement and serves on the boards of the Worldwide Credit Union Foundation, the Filene Research Institute and the Western CUNA Management School Board of Trustees.
Benson Porter, FinTech CUSO Chair at Black Dragon Capital℠
Benson Porter, a Black Dragon Capital℠ Senior Advisor collaborating on the firm's FinTech Investment strategy, is the former CEO of BECU and First Tech Credit Union. A highly regarded credit union and financial services leader, Mr. Porter has assembled the most recognized credit union leaders to help reshape the credit union landscape to drive better service to the community and high returns to invest in the community. Mr. Porter's impressive track record includes serving as the President and CEO of the BECU, which grew into the third largest credit union in the country during his tenure and serving as the CEO of First Tech Credit Union after its merger with Addison Avenue FCU. He has served on a variety of financial service and technology companies' board of directors and is recognized for his emphasis on creating inspired cultures that support growth, differentiated customer service, and financial inclusion.
"Black Dragon Capital℠ wants to address the most important issues faced by credit unions to allow them to serve their community better and remain competitive. We have intentionally partnered with the most innovative and sophisticated credit unions in the market," said Kevin Lee, Partner, Black Dragon Capital "Their knowledge, combined with Black Dragon's Deep domain expertise and the insights of the Limited Partner Advisory Board's Technology & Operations Committee, will allow us to thoroughly assess our options and make properly informed decisions towards leveraging technology to solve the industry's most important issues and create a sustainable economic model."
About Black Dragon Capital℠
Black Dragon Capital℠, founded over a decade ago by recognized financial technology leaders, is a multi-phased investment firm focused on disruptive technologies in high growth industry segments that strengthen economic stability within communities. The firm is led by a collaborative team with a combination of intense operating experience, community impact focus, and a proven track record of successfully transforming companies.
About the Black Dragon Capital℠ FinTech Limited Partner Advisory Board
The FinTech Limited Partner Advisory Board (LPAB) is an organization comprised of recognized credit union and CUSO investment partners. The Advisory Board provides input on industry issues, feedback on operational and technical areas with potential and current investments, and provides strategic advice and direction on all Black Dragon Capital's investments for Fintech strategies. The Advisory Board's feedback incorporates insight from Black Dragon's Global Advisory Group, thought leadership and guidance on key events.
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SOURCE Black Dragon Capital
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