Online and mobile banking provider Bankjoy has signed three more credit unions to join its mobile and online technology ecosystem, looking leverage its fintech offerings to attract and retain younger members for a brighter future.
The credit unions include:
•Estacado Federal Credit Union ($70 million; 7,700 members; Hobbs, MN)
•Prospectors Credit Union ($77 million; 5,300 members; Diamond Bar, CA)
•Discovery Credit Union ($146 million; 9,000 members; Wyomissing, PA)
According to Estacado Federal Credit Union CEO Mark Roddenberry, Estacado was looking for a more advanced Internet and mobile banking system, which can be autonomous with members having the ability to open, fund, and transact business with minimal credit union involvement. Bankjoy was written for the next generation of members who demand full mobile access to their money 24 hours a day.
“Bankjoy is giving Estacado a big advantage by not forcing younger members to have to go to a computer to start their Internet experience; they can easily start the process on their smartphone,” says Roddenberry. “Bankjoy will also reduce staff time, because we often have to set up members in the credit union since they may have limited physical computer access.”
Roddenberry believes changing to Bankjoy will help the credit union capture younger members, coupling the new technology with AI software to reduce unnecessary calls to the credit union and make members more self-reliant. “The ability to self-fund their accounts will be a wonderful new addition to our remote services,” he adds.
Roddenberry concludes that Bankjoy and Corelation’s KeyStone core will be keys to the credit union updating its checking to serve a wider variety of members who often work remotely, having minimal access to the credit union during work hours. “Another one of our goals is to increase mobile usage and, therefore, increase membership in the credit union to help us survive and thrive in today’s faster moving pace,” he says.
“We’re very pleased to see Estacado, Discovery, and Prospectors leveraging our technology to appeal to younger members, which will allow them to lay a solid foundation for the future,” states Bankjoy CEO Michael Duncan. “In addition, many people today don’t have regular access to computer - especially those who live or working remote locations. Our mobile app takes care of all that and more. We look forward to seeing these credit unions excel over the next few years. They definitely get it.”