Innovative application will pay users to save money and receive content from the bank, generating more cross-selling opportunities and revenue.
Finopotamus has named 4Front Credit Union the winner of its Tekkie Award in the Marketing and Member Communications category for the credit union’s successful partnership with Plinqit, a savings platform that pays users for learning about personal finances. The Finopotamus Tekkie Awards, which are co-sponsored by Credit Union tech-talk, recognize outstanding achievements in the field of credit union technology.
As a member-owned financial cooperative serving more than 97,600 members across the state of Michigan, 4Front Credit Union chose to partner with Plinqit to help members save money and establish better financial habits. Using Plinqit’s financial education tools and resources, 4Front’s members are empowered to manage their personal finances in a way that puts them closer to their unique financial goals. After reviewing a record number of submissions, Finopotamus awarded 4Front Credit Union for helping members collectively save more than $920,000 to date and strengthen their personal finance skills by completing nearly 800 financial education courses with Plinqit.
“By expanding our digital offerings to include Plinqit, we can continue to empower members through innovative financial tools. We are proud to offer Plinqit.”
4Front uses Plinqit’s savings platform, which rewards members for learning about finances, promoting higher engagement with members and differentiating the digital experience in a meaningful way. With Plinqit, 4Front’s members are able to grow their knowledge of finances by simply watching a video or reading an article from the Plinqit library, then taking a short quiz and receiving a reward for learning more about financial wellness. Since partnering with Plinqit, more than 1,340 of 4Front’s members have engaged with the savings platform.
“We view Plinqit as an engaging, easy-to-use platform. The app employs the right amount of friction to encourage savings without creating barriers for those encountering unplanned expenses while pursuing their savings goals,” said Zach Eychaner, SVP of Technology at 4Front Credit Union. “By expanding our digital offerings to include Plinqit, we can continue to empower members through innovative financial tools. We are proud to offer Plinqit.”
“Most people are not very confident in their knowledge of personal finance, as over one-third of consumers gave themselves below a grade of C on the topic, according to a survey from the National Foundation for Credit Counseling,” said Kathleen Craig, founder and CEO of Plinqit. “This is a massive problem because personal financial education is key to long-term financial wellness. 4Front Credit Union was ahead of the game and recognized that learning valuable financial habits by creating and achieving savings goals is truly a win-win for everyone. We are proud to see 4Front honored for their positive impact on the financial health of their members and it is an honor that Plinqit is able to support the initiative with our technology.”
About Plinqit
Plinqit is a brandable, mobile-first platform that is elegant and highly powerful at the same time. Unlike any other savings platform on the market, its patented Build Skills™ pays users for engaging with content, creating higher user engagement for financial institutions. Created by Millennials for Millennials, Plinqit helps financial institutions connect with this important demographic in a meaningful, relevant way – bringing together digital customers, FI’s, and savings in one beautiful place. For more information, visit info.plinqit.com.
