Pocketnest Supercharges Credit Union Growth
In a groundbreaking initiative,
Pocketnest is set to redefine the landscape of credit union member engagement. This women-founded financial wellness platform has been instrumental in accelerating growth and enhancing member interaction for credit unions across the nation. A shining example of its impact is seen with
Michigan State University Federal Credit Union (MSUFCU), whose members have demonstrated remarkable benefits from the platform.
Enhanced Member Engagement and Adoption Rates
According to recent data, MSUFCU members utilizing
Pocketnest are exhibiting not only increased savings but also a significant boost in engagement and adoption of credit union products. In fact, those engaged with Pocketnest are adopting financial products at nearly double the rate of their peers. This impressive stat indicates a clear value brought to members, enhancing both their financial wellness and the credit union's growth trajectory.
Ben Maxim, the Chief Technology Officer at MSUFCU, highlighted the platform's personalized, AI-driven services that aid in boosting deposits and improving product awareness within the credit union. He stated, "These members are more inclined to adopt high-value products and maintain bigger savings balances, making Pocketnest a pivotal contributor to both member wellness and credit union success."
Unlocking Financial Wellness
A recent analysis confirmed that Pocketnest users at MSUFCU consistently outperform fellow members in key metrics such as engagement and product adoption over time. The transformation is evident within the first year of introducing Pocketnest to users, who report enhanced participation and satisfaction with their credit union's offerings.
A Growing Network
MSUFCU is just one of over 50 credit unions embracing the potential of Pocketnest, joining other enterprises like
Community Financial Credit Union and
Frankenmuth Credit Union. Together, these partnerships are generating cross-sell revenue, increasing overall member deposits, and significantly improving member financial health. On average,
Pocketnest reports an uptick in financial wellness by an astonishing
57%, which leads to identifying millions of dollars in potential cross-sell revenue opportunities.
A Synergy of Fintech and Credit Unions
Jessica Willis, the CEO and founder of Pocketnest, remarked on the strong adoption and engagement from MSUFCU members, affirming the powerful results achieved through this collaboration. She emphasized, "This partnership illustrates the benefits that arise when credit unions collaborate with fintech solutions for the well-being of their members."
From budgeting and debt management to estate planning and taxation, Pocketnest offers a comprehensive view into financial guidance across ten crucial areas—utilizing behavioral science and generative AI to enhance the user experience. Beyond helping members, the platform provides actionable insights to credit unions, informing strategic decisions and uncovering new revenue streams.
Expanding Accessibility
Currently, Pocketnest is integrated with platforms like *
CUAnswers
and Lumin Digital**, with additional integrations on the horizon, making it increasingly accessible to credit unions nationwide. Launched in 2019, Pocketnest stands at the forefront of digital innovation within the financial services sector, empowering financial institutions with tools needed to foster long-lasting relationships with digitally savvy Millennial and Gen Z consumers.
About MSUFCU
Founded in 1937, MSUFCU has garnered a stellar reputation within the industry, having received numerous accolades for its commitment to excellence, including the title of a Best Credit Union to Work For® and recognition as a Top Workplace for several consecutive years. With more than 370,000 members and over $8.26 billion in assets, MSUFCU continues to illustrate its dedication to providing outstanding service and solutions to its members.
For more information about how Pocketnest is reshaping financial wellness and credit union growth, visit
Pocketnest's website or
MSUFCU's website.