Credit union partners with fintech platform to bring employees, members financial wellness
DETROIT, Mich. — Michigan State University Federal Credit Union (MSUFCU) has partnered with Pocketnest, Inc.™, a financial planning platform, to provide its employees and members a new tool to manage their financial wellness. MSUFCU is a $5.5 billion credit union headquartered in East Lansing Mich., with nearly 900 employees and almost 300,000 members.
“We believe in the incredible power of technology, innovation, and fintech — especially for our Gen Z and millennial members who expect this level of modernization,” said Ben Maxim, MSUFCU’s Assistant Vice President of Digital Strategy and Innovation. “Pocketnest represents the engaging, hands-on, and DIY approach our members seek, and will be a key part of our new innovation center, The Lab at MSUFCU.”
Pocketnest is a venture-backed, Michigan-based company created with credit unions in mind. Founded by Jessica Willis, CFP®, CPWA®, Pocketnest guides users through all areas of personal financial health and education through a step-by-step, do-it-yourself (DIY) approach. The platform puts users in control of their financial planning, equipping them with the tools they need. Meanwhile, the platform enhances the relationship between credit unions and their members by allowing the financial institutions to gain a better understanding of members’ needs and wants.
“Personal finance is ripe for disruption as millennials and Gen Zers crave more smartphone-based, DIY-like experiences from their credit unions — now, more than ever, as COVID-19 makes the need for innovation and smart, digital solutions immediate,” said Willis. “We created Pocketnest to bring financial freedom to the masses, while helping financial institutions create more powerful connections with their next-generation audience.”
The partnership officially kicked off this fall, with an initial employee release. One month into the activation, MSUFCU released the platform to a portion of its members.
About Pocketnest, Inc.™ Pocketnest is a Michigan-based company that closes the gap between young people and their financial institutions, with a mission of making financial wellness accessible to everyone. Providing users with comprehensive and approachable personal financial planning and education, the digital platform puts users in the driver’s seat of their financial plan, while also uncovering more insights and opportunities for financial institutions. The company licenses its platform to financial institutions to help them better understand and serve their next-generation audience. Learn more at pocketnest.com.
About MSUFCU MSUFCU has a national reputation for excellence and has received several top industry and workplace awards. The Credit Union was named as a Top Workplace in the large employer category by the Detroit Free Press for nine consecutive years, received a 5-star rating from Bauer Financial in 2020, was named a Top 100 Best Workplace for Women by Fortune for the third year, and is in the top five Michigan credit unions by Forbes Best-in-State Credit Unions. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years, received the ATHENA Award® for Organizational Leadership, and was named West Michigan Best and Brightest to Work For the eighth year in a row. The Credit Union earned the ranking of one of Michigan’s Best and Brightest in Wellness for the ninth consecutive year, and has been certified as a Great Place to Work® for seven consecutive years. MSUFCU has also been recognized for its financial education initiatives, ranking first for the 2020 Louise Herring Award, second for the 2020 Alphonse Desjardins Adult and Youth Financial Education Awards, as well as second for the 2020 Dora Maxwell Award by the Michigan Credit Union League. Founded in 1937, MSUFCU is headquartered in East Lansing, MI, has 21 branches, almost 300,000 members, over $5.5 billion in assets, and nearly 900 employees. For more information, visit msufcu.org.