Cornerstone League and Black Dragon Capital Partner on Fintech

- The Cornerstone League represents credit unions across five states—Arkansas, Kansas, Missouri, Oklahoma, and Texas—which collectively held $216.6 billion in assets and served 14.9 million members as of December 31, 2023. - Black Dragon Capital's founder and CEO is Louis Hernandez Jr., a technology executive who previously led Open Solutions, a creator of core banking platforms for community-based financial institutions. - The private equity firm utilizes an "operationally led approach," with a team of experienced entrepreneurs and corporate executives who work directly with portfolio companies to modernize systems and scale operations, rather than just providing capital. - This partnership aims to address the increasing competition credit unions face from fintech firms that offer seamless, app-based experiences which are difficult for smaller institutions with legacy systems to match. - Planned initiatives include leadership briefings, educational content, and strategic forums designed to help credit unions navigate the increasingly complex financial and technology landscape. - Black Dragon Capital's investment thesis focuses on generating returns while driving change in underserved sectors; it has previously invested in platforms designed to modernize credit union technology. - This is not Black Dragon's only collaboration within the industry; the firm also has a strategic partnership with Washington State Employees Credit Union (WSECU), one of the largest credit unions in Washington state.