Real Conversations with the People Shaping

Elizabeth talks about how, as an angel investor, she spends as much time reading the founder as she does reading the business model. Can they adapt when reality disagrees with them? Do they listen? Do they show grit without ego? Because once a product hits the market, the “brilliant” idea often mutates. The founder’s instincts are what determine whether that mutation becomes evolution or extinction. #trustage #creditunion #banking #investing

In this clip, TruStage's Elizabeth McCluskey talks through her journey as an angel investor, looking for female led companies. She outlines how having a family and trying to make healthier decisions has influenced her investment decisions as an angel investor #fintechinvestment #fintech #banking

If you only post on LinkedIn once per week, you're in the top 4% of users. With 310 million active users each month, that's pretty awesome visibility. For anyone trying to sell in the fintech space, this is part of the process to drive down your customer acquisition costs which are already loco. Check out this clip from an awesome convo w/TruStage's Elizabeth Coston McCluskey where we unpack all things impact investing in fintech, making good bets and storytelling's place in 2026....

00:00 Intro + DC “snowcrete” 01:00 From investment banking to values-driven investing 04:30 The ethics moment that changed everything 05:10 Finding impact investing (and fintech) 06:45 Why credit unions became the mission fit 09:30 Discovery Fund thesis and underserved founders 14:20 Angel investing, SPVs, and the non-alc movement 17:25 How VCs separate signal from noise 20:56 Why storytelling matters more than ever 26:50 Vertical themes: stablecoin, affordability, and insurance innovation 31:00 AI: implementation, guardrails, and enterprise reality 33:08 TruStage distribution and supporting portfolio companies 36:20 2025 portfolio winners: Hello Divorce + Debbie 40:00 Wrap From Wall Street to Impact VC, and What Credit Unions Need Next (with Elizabeth McCluskey, TruStage Ventures) In this episode of the Propagate Fintech Podcast, Roland Howard sits down with Elizabeth McCluskey to unpack her journey from investment banking and wealth management to impact investing and now venture capital at TruStage, where she helps back early-stage fintechs advancing financial inclusion and credit union innovation. They cover how values shape investing decisions, why storytelling matters more in the age of AI-generated content, and what fintech founders need to understand about distribution, enterprise adoption, and building trust with financial institutions. What we discussed: •What fintech impact investing looks like in practice and why it’s still early innings •Why credit unions are under-invested in from a fintech standpoint and what that creates (opportunity) •TruStage’s Discovery Fund thesis and who it’s designed to support (under represented founders) •Why fintech angel investing has evolved (SPVs + platforms) and how that changes access •How early-stage investors separate signal vs noise when data is limited •Why reference calls matter, and what they reveal about founders •The “tied to the problem vs tied to the solution” mindset •Why authentic storytelling is becoming a competitive edge as AI increases content volume •Stablecoin, AI implementation realities, and why execution takes longer in enterprise environments •How TruStage helps portfolio companies with distribution and credit union introductions •Portfolio winners to watch: Hello Divorce and Debbie Key topics covered: Elizabeth’s career arc •Investment banking as a training ground, but not a lifestyle she wanted long-term •Wealth management lessons across sectors, macro + bottoms-up analysis •A personal ethics moment that sparked a pivot toward impact Impact investing and fintech •Discovering impact investing through business school work (including exposure to Acumen-style thinking) •Investing in companies across education, healthcare, economic empowerment, and sustainability •Why financial services remained a constant focus through market cycles TruStage + the credit union opportunity •Building a fund focused on financial inclusion and underserved founders •Why credit unions are “mission-first” but often behind on technology and digital outreach •The underdog narrative: small institutions, hyper-local communities, and uneven access to modern tools Discovery Fund focus •Investing in founders who are women, people of color, LGBTQ, or veterans •Why funding gaps persist (and why the problem is allocation, not ambition) Founder evaluation + storytelling •Why early-stage investing is largely a bet on the founder •The importance of coachability, learning velocity, and customer listening •How storytelling cuts through “AI slop” and earns attention in a saturated market •Short-form as the teaser, long-form as the depth Where fintech is going •Stablecoin as a major theme, with an emphasis on “credit unions as the good guy” •A real inclusion problem: affordability pressures on middle and lower-middle-class households •Spotlight: Denzen, rent protection insurance for tenants in case of layoffs 2025 Fintech Investment Portfolio Winners •Hello Divorce: major momentum via enterprise partnerships and employee benefits •Debbie: rewards for saving (not spending), plus strong traction with credit unions Guests Elizabeth McCluskey Venture investor at TruStage focused on early-stage fintech and financial inclusion, with a background in investment banking, wealth management, and impact investing. If you’re building fintech for credit unions, financial inclusion, or affordability, this episode is a must. Like, subscribe, and drop a comment: What’s the most under-appreciated part of early-stage investing: the founder, distribution, or storytelling?