Nymbus Wins Credit Union Times Luminaries Award for Innovative Core Conversion with Michigan State University Federal Credit Union

JACKSONVILLE, Fla., Nov. 20, 2025 /PRNewswire/ -- Nymbus, a modern core banking platform for U.S. banks and credit unions, today announced it has been named a 2025 Credit Union Times Luminaries Award winner for Product Innovation – Core Processing/Conversion.

Nymbus earned this recognition for pioneering transformation for Michigan State University Federal Credit Union (MSUFCU) by converting customers from two newly acquired community banks – Algonquin State Bank and McHenry State Bank – onto Pillur, powered by Nymbus Core and Launch SMB.

Pillur is a digital-first credit union purpose-built by MSUFCU and Nymbus to serve small and medium-sized businesses (SMBs). Rather than a traditional core conversion, this project was a strategic segmentation of MSUFCU's customer base, migrating SMB clients onto Pillur's tailored platform to better meet their business banking needs. This approach unlocked immense potential for targeted service delivery, brand differentiation, and long-term scalability.

"We're honored to receive this recognition," said Jeffery Kendall, Chairman and CEO of Nymbus. "This award reflects the exceptional partnership we've built with MSUFCU and validates our approach to enabling credit unions to think strategically about core modernization. MSUFCU's vision to launch Pillur demonstrates what's possible when financial institutions leverage modern technology to serve specific member segments more effectively."

The award-winning initiative enabled MSUFCU to migrate $65 million in deposits from the two acquired community banks to the new Pillur platform. This strategic segmentation represents an industry first in targeted SMB re-platforming at this scale.

"We recognized that business owners need digital banking tools and services that fit how they operate today. Partnering with Nymbus allowed us to make that vision a reality," said Sara Dolan, Chief Financial Officer of MSUFCU. "Pillur allows us to deliver faster, smarter, and more personalized banking experiences, and Nymbus was instrumental in ensuring a smooth, secure migration for our SMB members."

"MSUFCU's leadership in this transformation has been exceptional," added Kendall. "Their commitment to innovation and member service excellence made this project a true partnership. Together, we've demonstrated how credit unions can use mergers and acquisitions as a growth accelerator for core modernization, rather than just an operational necessity."

By pairing cloud-native, API-first architecture with expert-led managed services, Nymbus enables financial institutions to migrate seamlessly and quickly deliver tailored banking experiences without operational disruption. The partnership defines a new model for credit union growth, demonstrating how modern core banking technology can enable financial institutions to segment and serve specific member populations with unprecedented precision and efficiency.

To learn more about Nymbus' partnership with MSUFCU, go to nymbus.com/lp/client-stories/msufcu/.

About Nymbus
Nymbus delivers a cloud-based, highly extensible, full-stack banking platform, empowering community banks and credit unions to accelerate their growth and market positioning. Founded in 2015, Nymbus modernizes legacy core systems that support both brick-and-mortar operations and digital-first institutions, and facilitates the launch of vertical banking strategies or subsidiary brands with a sidecar Core alternative. The Nymbus Banking Platform solution delivers the technology, people, and processes to scale as your financial institution grows. For more information, visit nymbus.com.

About Pillur
Pillur Business Banking offers tailored financial solutions for business owners, including business checking and savings accounts, merchant processing, cash management services, loans, lines of credit, and digital banking tools designed for efficiency and growth. Pillur is a custom digital financial platform created by MSU Federal Credit Union (MSUFCU) and is federally insured by the National Credit Union Administration (NCUA). For more information, visit pillur.org.

SOURCE Nymbus