Capstone Strategic announced today that RenoFi, a pioneer in renovation lending solutions, has partnered with Ardent Credit Union for a new program that grows both membership and quality loans.
June 30, 2020 (Tysons Corner, VA) – Capstone Strategic, Inc. (Capstone) announced today that RenoFi, an innovative financial technology company powering next-generation renovation loans, has partnered with Ardent Credit Union, one of the largest credit unions in Southeast Pennsylvania. Capstone advised RenoFi on this partnership and introduced Ardent’s President/CEO, Rob Werner, to RenoFi’s Founder team. This partnership allows RenoFi to provide a digital and modern home renovation financing experience to the members of Ardent Credit Union. “We are excited to partner with Ardent Credit Union and, as a result of this partnership, we are able to help Ardent’s members turn their current home into one they love,” said Justin Goldman, Co-Founder & CEO of RenoFi.
Founded in 2018, RenoFi provides renovation financing solutions that better meet the needs of today’s homeowners. RenoFi’s unique program enables lenders to use the expected value of the home post-renovation rather than the home’s current value, increasing the consumer’s borrowing power without the need to refinance a primary mortgage. “Capstone helped identify the right partner that shares our commitment to excellent member service while seeking innovative new ideas to help the credit union movement thrive,” said Lee Miller, Co-Founder & President of RenoFi.
Homeowners taking out an Ardent Renovation Loan will work with RenoFi to review their plans or specs, conduct due diligence on the general contractor and provide a feasibility analysis of the budget–all with the aim of ensuring that members are put in the best position to successfully complete their renovation. “We have always strived to provide differentiated loan products and exceptional levels of member service. This partnership will provide growth for the credit union as well as enhance services for current members and future clients. As a third-party advisor, Capstone facilitated a smooth and successful start to this partnership that will undoubtedly provide additional growth for both organizations for years to come,” added Werner. Ardent Credit Union was originally founded in 1977 by the employees of the SmithKline Corporation. Ardent has more than $700 million in member assets. Headquartered in Philadelphia, Ardent serves Philadelphia, Montgomery, Delaware, Bucks and Chester Counties.
“We are thrilled to continue to help RenoFi grow through strategic partnerships in the credit union world. With the Ardent deal, RenoFi will further deploy its solution set for credit unions and members while accelerating its wonderful growth trajectory. We have enjoyed our partnership with RenoFi’s team and are looking forward to the next chapter. They are making a difference,” said John Dearing, Managing Director at Capstone.
About Capstone Strategic, Inc.
Capstone Strategic, Inc. is a consulting firm located outside of Washington DC specializing in proactive, external growth strategies, primarily mergers and acquisitions for the middle market. Founded in 1995 by CEO David Braun, Capstone has facilitated over $1 billion of successful transactions in a wide variety of manufacturing and service industries, including the credit union market. Capstone utilizes a proprietary process, “The Roadmap to Acquisitions,” to provide tailored services to clients in a broad range of domestic and international markets. Visit the Capstone website at http://www.CapstoneStrategic.com.