In a joint development initiative, Financial Plus Credit Union and CU NextGen, a CUSO providing technology and automation solutions, are launching the Greenlight Loan, a unique quick-funded loan solution packaged with financial education. Designed as a more compassionate, intentional, and future-focused alternative to pay-day loans, Greenlight quickly provides funds to hardworking Financial Plus Credit Union members, along with in-branch financial counseling and online educational resources. CU NextGen and Financial Plus developed the program to help get financially struggling members on the path toward greater financial wellness and reduce reliance on higher-cost, predatory payday loans.
The innovative, automated Greenlight loans will be made available to Financial Plus members without a credit check. Made possible through CU NextGen’s NoCode App platform, Greenlight will allow members to complete an easy online or app-based loan application and confirm funding any time day or night. With only a few button clicks, members can see if they qualify for quick cash when they need it most. Approved members will receive loan funds within minutes in their credit union accounts.
During his announcement of the initiative, Financial Plus President and CEO Brad Bergmooser said the partnership affirms the credit union’s dedication to innovation and providing easy-to-access, member-focused, and customized solutions. “As a trusted financial partner, we’re committed to providing our communities with access to industry-leading products and services,” he said. “Our members continue to work with us to reach a more empowered sense of fulfilling their banking needs through digital channels. To be there for them now and in the future, we’ve partnered with CU NextGen, a cutting-edge technology company that shares our member service-focused mission. Financial Plus couldn’t be more excited about working with our friends at CU NextGen to further challenge industry standards and bring easy and customizable financial solutions to all those we serve.”
Susan Bennett, VP of Operations and Technology for Financial Plus, emphasized that the credit union’s partnership with CU NextGen is one that aligns with its core beliefs and helps the credit union strengthen its commitment to serving its members. “We love the spirit and enthusiasm at CU NextGen and their consistent response of ‘let’s make it happen’ to any idea we bring to them, no matter how unusual it is,” she said. “The exceptional collaboration in developing our Greenlight Loan highlights the talent and ingenuity of our teams and will further promote our commitment to financial wellness for our members. The launch of this new product is the start of a great long-term partnership.”
Kent Zimmer, CEO of CU NextGen, is excited by the potential of the technology to improve credit union members’ lives. “Greenlight is a great example of how partnering with innovative technology can help credit unions get back to the core of the ‘people helping people’ credit union movement,” he said. “It goes beyond simply helping a credit union provide traditional products and services, going further to facilitate meaningful change for members looking to transform their futures.”
As a not-for-profit financial cooperative, Financial Plus partnered with CU NextGen for the initiative based on the CUSO’s ability to quickly provide flexible, customized solutions that can help the credit union serve as its members as trusted partners and provide resources for financial stability and growth. The credit union eagerly adopts CU NextGen’s latest technology as a way to provide personalized service in evolving ways and across all delivery channels for credit union members.
About CU NextGen
CU NextGen is the CUSO dedicated to bringing next-generation technology to credit unions, helping them improve the service delivered to their members, the daily experiences of their staff members, and the efficiency of their operations. CU NextGen is a partnership between Members Development Company, a consortium of nearly 70 large and future-focused credit unions, and ClaySys Technologies, a technology company with leading products in the no-code application development, and robotic process automation (RPA), and artificial intelligence spaces. Using these technologies, CU NextGen has built several cutting-edge solutions, including the premier Member Relationship Management platform which includes CRM, RPA, Apps & Workflows, Knowledgebase, Chatbot, and Ticketing. Additional solutions include video banking and conversational AI, among others. CU NextGen builds on the work these two innovators have implemented within MDC’s collaborative network of progressive credit unions and represents our shared strategic initiative to deliver next-gen technology beyond the MDC network to credit unions across North America.
About Financial Plus Credit Union
Owned by over 57,000 members, Financial Plus provides a full range of modern, easily accessible banking products and services to all throughout the state of Michigan. For more information, visit www.myfpcu.com or call (800) 748-0451.