EarnUp Launches Financial Wellness Automation Platform for Credit Unions

EarnUp has launched a platform designed exclusively for credit unions that aims to drive member engagement by providing  solutions that automate savings, enhance loan eligibility and improve overall financial health.

The new EarnUp Engagement Platform takes an ecosystem approach to member value, incorporating three key pillars of financial wellness automation: artificial intelligence (AI) and automation tools, guidance and ongoing engagement, the financial wellness FinTech company said in a Monday (Oct. 23) press release.

One of the standout features of the EarnUp Engagement Platform is its conversational personal financial adviser that can provide reliable financial guidance to credit union members, according to the release. Through this interaction and collection of information, credit unions can assess their members’ financial goals and guide them to appropriate applications.

Another feature is its ability to empower users to make flexible, incremental payments, the release said. Users can choose to divide their monthly loan payment into two, three, or four debits throughout the month, often syncing with their payday.

The platform also offers automated savings options, allowing users to direct their money towards various financial goals such as a down payment on a home or emergency savings, per the release. Additionally, members can opt to round up debit or credit card transactions to the nearest whole dollar, thereby increasing their savings while also boosting deposits for credit unions.

Nadim Homsany, co-founder and CEO at EarnUp, said in the release that by automating savings, managing monthly cash flow, and facilitating timely bill payments, the EarnUp Engagement Platform enables credit union members to improve their financial health and performance.

Matthew Cooper, co-founder and president at EarnUp, added that the platform can help credit unions compete at a time when they are facing increasing competition from national banks, FinTechs and online brands.

“With EarnUp, credit unions have a way to differentiate and provide members with a meaningful service that drives financial stability while offering a proven deposit growth strategy,” Cooper said.

PYMNTS Intelligence has found that credit unions have been largely successful in innovating to meet the needs of their members and maintaining high satisfaction rates. However, in a rapidly changing financial landscape, they must continue to meet member demands for the latest digital solutions, according to “How CUs Can Help Younger Consumers in a Distressed Economy,” a PYMNTS and PSCU collaboration.