Greenlight Forms Credit Union Service Organization
Greenlight CUSO logo and app

Greenlight Forms Credit Union Service Organization

A popular FinTech with a focus on family finance has announced the formation of a new organization and a new strategic investment.

About Greenlight’s Credit Union Service Organization:

Greenlight has formed a Credit Union Service Organization, aptly called the Greenlight Financial CUSO. As part of this program, credit unions can offer the Greenlight platform to its members for free.

With Greenlight, parents can give their children a special debit card, allowing them to learn about spending, saving, and giving. Adults can also use the platform to reward their children for completing chores or managing their allowance, while also setting spending controls and receiving spending notifications. Additionally, the app includes the company’s Level Up curriculum, which teaches children about financial literacy via fun and engaging games.

New investment from Curql

The announcement of the Greenlight Financial CUSO also included news that the company has gained a strategic investment from Curql. The Curql Collective represents more than 100 credit unions and aims to work with industry partners to bring FinTech integrations to credit unions across the country. With the investment, Greenlight says it will be able to accelerate its expansion into the credit union market, as well as create new tools and products in order to serve said market.

What they’re saying:

Commenting on the formation of the Credit Union Service Organization, Greenlight’s SVP of Business Development Matt Wolf said, “Since the launch of our Greenlight for Credit Unions program, we’ve seen tremendous demand from leading credit unions across the country looking to better serve families. Establishing a CUSO with the investment from Curql allows us to deepen partnerships with the credit union community and help them engage the next generation of members with innovative banking products and best-in-class financial education.”

Paris Chevalier, President and CEO of existing Greenlight partner South Bay Credit Union, said of working with FinTech, “Our partnership with Greenlight has allowed us to better serve families in our community. With the Greenlight for Credit Unions solution, we can engage the next generation of SBCU members, empowering them with the financial knowledge and skills they need for a healthy future.”

My thoughts:

Earlier this year, Greenlight also debuted its Greenlight for Banks program. So, it only makes sense that the company would expand to credit unions and even put a special emphasis on them. While smaller banks can certainly have a relationship with their communities, the same is even more true of credit unions — which is why it’s great that these institutions will be able to offer Greenlight’s financial education tools to its members. From every angle, the partnership with Curql and the newly-formed Greenlight Credit Union Service Organization are wins for all involved.

Author

Kyle Burbank

Head Writer ~ Fioney
Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

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