Lane has served as an associate board member since 2021, Velera said in a Thursday (Dec. 18) press release.
“In his time as an associate director, he has played an integral role in our progress and been a trusted partner in advancing our mission,” Velera President and CEO Chuck Fagan said in the release. “We look forward to the leadership and perspective he will continue to bring to the board.”
Lane told PYMNTS in 2023 that he keeps in close contact with legislators involved in regulating the industry and that he is not shy about sharing credit unions’ collective point of view when the time is right.
“Those relationships can make a difference,” Lane said when interviewed for the PYMNTS Intelligence report “Changing Regulatory Landscape Brings Member Focus to Credit Unions.”
Lane succeeds Frank Weidner, who served on the Velera board for over 10 years and whose tenure as president and CEO of Wings Credit Union will conclude at the end of the year, according to the release.
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Wings Credit Union will merge with Ent Credit Union, effective Jan. 1, 2026, according to a Dec. 5 press release issued by the two credit unions.
Weidner served as vice chair and chair of the Velera board during the PSCU/Co-op Solutions combination that created Velera, per the Velera press release.
Fagan said that Weidner’s leadership as board chair was instrumental in guiding the combination and that his influence “will continue to shape our strategy and member-first focus.”
The Velera board of directors includes 14 credit union CEOs, according to the release.
The CUSO serves more than 4,000 financial institutions across North America and offers payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and point-of-sale networks, shared branching and member support, per the release.
“Velera’s board of directors brings together CEOs representing credit unions of varying sizes, membership models and regions, each offering a deep understanding of the issues shaping today’s payments landscape,” Cathie Tierney, chair of the Velera board of directors and president and CEO of Community First Credit Union, said in the release.
The CUSO’s latest projects and offerings include a next-generation fraud prevention system, a new initiative aimed at tapping into the growing popularity of stablecoins, and a partnership with investment firm Black Dragon Capital to support FinTechs that allow credit unions “to transform their businesses and optimize their member service advantages.”
