6 credit unions renew with Bankjoy after successful conversion

As consumers rapidly change how and where they bank, credit unions maintain commitment to modernized digital experiences

DETROIT–(BUSINESS WIRE)–After recently converting 16 credit unions to its end-to-end digital services ecosystem, Bankjoy renewed with six additional credit unions, underscoring the credit unions’ commitment to delivering superior and modern digital experiences.

With a fast and seamless implementation process, Bankjoy’s modern banking technology continues to experience substantial growth. Supporting its fast conversions is its tight integration with Corelation’s core KeyStone platform. Bankjoy was recently named an official Corelation Certified Partner, which recognizes fintechs that have successfully interfaced with its KeyBridge API, as well as meeting Corelation guidelines. Credit unions that select the core platforms that Bankjoy has integrated with its digital banking service have implemented Bankjoy in as little as 30 days with no disruption of service to members.

Among the credit unions to renew with Bankjoy are:

  • Georgia Heritage FCUbased in Georgia with $118 million in assets and over 12,950 members
  • A Detroit credit unionMichigan-based with $56 million in assets and over 11,000 members
  • Advantage Plus FCUbased in Idaho with $136 million in assets and over 15,000 members
  • Safe America Credit Unionbased in California with $500 million in assets and over 35,000 members
  • Coca-Cola FCUbased in Georgia with $199 million in assets and over 14,000 members
  • Community-wide FCUIndiana-based with $400 million in assets and over 52,000 members

Ruled by a minority A Detroit credit union is one of six credit unions to be renewed. Formed in 1935 as the Detroit Newspaper Industrial Credit Union, One Detroit served people who worked in the newspaper industry. In the 1970s it changed its name to be more inclusive of other industries such as radio, television, printing and publishing. The credit union continued to expand, helping to fill the lack of financial services within its communities. Today, it aims to unify the Detroiters community by offering exceptional services backed by modern banking technology like Bankjoy.

Joumana Mcdad, EVP, Chief Strategy & Innovation Officer, One Detroit, said, “We are helping members of our community who have been overlooked by the traditional banking system by providing them with credible, fair and reasonably priced financial products and services. reasonable. By working with Bankjoy, we maintain this commitment, ensuring our members can bank how and when they want with the best digital tools available. We look forward to continuing our partnership with the Bankjoy team.

“People of all ages prefer digital banking to in-person banking, but there is now a large and growing customer segment that is not interested in branches at all, according to a PwC survey. These digital natives now represent 32% of consumers,” says Michael Duncan, CEO of Bankjoy.

Additionally, non-traditional banking service providers like retailers and automakers are gaining traction, especially among younger consumers. In reality, 57% of Millennials and 64% of Gen Z have a financial account with a non-traditional institution, and 17% of those who do business with non-traditional financial institutions now identify them as their primary institution, double from just a year ago.

“The heightened interest in digital is unsurprising, but financial institutions need to keep pace with demand while ensuring their offerings are modern, seamless, and deliver experiences that are not only consistent, but better than their competitors. non-traditional banking,” Duncan added. “To do this, credit unions like One Detroit and others are leveraging end-to-end digital service ecosystems to modernize the experience. As they continue to innovate, we are committed to supporting their journey to digital transformation.

About Bankjoy

Detroit-based fintech Bankjoy provides modern banking technology, including membership app, online banking, mobile banking, online loan application, conversational AI, statements and more. The company prides itself on creating beautiful products with advanced functionality, simple navigation, modern look and feel, and world-class user experiences shaped by talking to users. Bankjoy is a company backed by Y Combinator, Bessemer Venture Partner and CheckAlt. For more information, visit www.bankjoy.com.

contacts

Mallory Griffin

For Bankjoy

706-830-0868

[email protected]