Members Linking Deposits from Other FIs

As a true innovator and an institution keenly dedicated to delivering products and services that offer exceptional value to its members, West Community Credit Union works with St. Louis-based SixThirty. SixThirty is a fintech accelerator focused on late-seed-stage startups that have a product, market traction and a proven track record. Through its involvement, the credit union was introduced to Plinqit, a brandable, mobile-first platform that is free, simple and easy to use for members.

The O’Fallon, Mo.-based credit union launched Plinqit as a better way to introduce themselves to potential members. West Community Credit Union wanted to increase membership, deposits and offer additional financial education to members and the communities the credit union serves. Instead of relying on traditional marketing channels, West Community Credit Union leverages Plinqit’s patent-pending Build Skills™ that pays users for engaging with content. Users watch a video or read an article from the Plinqit library, then rate the content “thumbs up” or “thumbs down” and answer a few questions to gauge their understanding. Unlike any other savings app on the market, users of Plinqit are rewarded for learning more about personal finances, creating higher user engagement.

Enabling the credit union to provide a non-traditional, ‘cool’ tool, Plinqit helps with the first step of the financial wellness journey: saving money. In fact, Plinqit users at WCCU are creating an average saving timeline of 11 months with an average goal of $1,254. Additionally, 22 percent of users have linked deposit dollars from a checking account at another financial institution. This provides an initial touch for WCCU with a potential new checking account customer.

“Partnering with Plinqit has offered us a unique way to make saving easy for our members while rewarding them for reaching their goals and engaging with financial education,” said Koren Greubel, Vice President of Marketing of West Community Credit Union. “At West Community Credit Union, our mission is to to provide our members with the most innovative technology. With a seamless implementation and a platform that can help our members take steps on the path toward financial wellness, Plinqit is an ideal partner for our credit union. We have seen our members’ habits change as they learn to save more and we are excited to see what the future holds with Plinqit.”

About West Community Credit Union
West Community Credit Union is a full-service, not-for-profit financial cooperative serving more than 26,000 members and businesses in St. Louis County, St. Charles County and Boone County. The credit union has offices in O’Fallon, Brentwood, Kirkwood, Lake Saint Louis, Florissant and Columbia, Mo. West Community is committed to enriching the lives of members’, helping their communities thrive and providing a rewarding work experience. In 2018, West Community Credit Union was awarded the Midwest Excellence Institute (MEI) Missouri Quality Award designed to honor exemplary organizations for their achievements in performance excellence. For more information on West Community Credit Union visit www.westcommunitycu.org.

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.