FinTech News

Greenlight Forms Credit Union Service Organization

by Kyle BurbankOct 25, 2023

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.

Citi to Become Exclusive Issuer of American Airlines Credit Cards

by Kyle BurbankDec 5, 2024

American Airlines and Citi have reached a new agreement for their co-branded rewards credit card partnership — which will also push a different issuer out of the picture. About the new agreement: Today, Citi and American Airlines revealed that they've signed a deal to extend their co-branded partnership. The new agreement is for 10 years and comes after 37 years of the two companies working together. As part of the...

woman standing in front of Small Business Saturday sign

Small Business News

2024 Small Business Saturday Spending Totals $22 Billion

by Kyle BurbankDec 4, 2024

The results from the 15th annual Small Business Saturday are in. About Small Business Saturday 2024 spending: With Small Business Saturday taking place on November 30th, the impact of this year's event is now being seen. According to figures from American Express — the credit card issuer that founded Small Business Saturday in 2010 — consumers in the United States are projected to have spent $22 billion at independent shops and...

AMEX Gold card moving to an AMEX Green card

Credit Card Reviews

Why I Downgraded From the Amex Gold Card to Amex Green Card

by Kyle BurbankDec 3, 2024

This week, I did something I'd never actually done before: I canceled a credit card. Well, technically, I did a product change — but that's close enough. That's right, I made good on my threat to ditch the Amex Gold Card after the recent update and, instead, will now be an Amex Green Card customer for the first time. So, why did I decide to make this change, what was the...