JoinCU, the first field of membership eligibility validation solution, helps credit unions compete for consumers online by eliminating or greatly reducing the obstacles and friction caused by credit unions’ eligibility rules. Credit unions’ restrictive field of membership requirements are the biggest competitive disadvantage credit unions face in trying to compete for consumers. Credit unions offer materially better rates than other lenders on average. Without JoinCU, however, it is virtually impossible for a consumer to determine all of the credit unions that they could join and therefore determine the best financial product they can obtain. JoinCU solves this problem.
“We’re pleased to have been accepted to demo JoinCU at Finovate,” CU Collaborate’s Founder and CEO Sam Brownell said. “JoinCU will finally make credit unions’ superior financial offerings easily accessible to consumers, allowing credit unions to compete online. Credit unions already offer the best financial products and customer service, we are just making it easier for consumers to take advantage of them. We believe this technology will drive close to ten million consumers each year to credit unions, changing the financial services landscape in the United States.”
JoinCU seamlessly integrates credit unions’ offerings into marketplace websites and reduces abandonment on credit unions’ online applications. It also creates a referral network between credit unions.
Finovate is the premier convention on what’s new in fintech and connects fintech startups with venture capitalists. FinovateSpring 2018 will be held at the Santa Clara Convention Center May 8-11 in Santa Clara, Calif. It features more than 1,300 attendees, 70 company demonstrations and more than 120 expert speakers.
Each fintech demo company, including CUCollaborate, went through a competitive application process to ensure top-notch innovation. They then get just seven minutes on stage to pitch its solution without slides and without video.
JoinCU meets credit unions’ wants and needs. The technology integrates seamlessly and helps credit unions reduce online abandonment and better understand their website traffic so they can grow faster. It also helps credit unions hone their business development efforts by identifying FOM expansion opportunities. The end product looks just like another arm of the credit union with all the credit union’s branding. Plus, it’s secure, verifies member eligibility using as fewinputs as possible, and is Americans With Disabilities Act-compliant. And if a consumer is not eligible to join your credit union or doesn’t meet your risk criteria, JoinCU finds credit unions they can join, and your credit union receives a finder’s fee!
JoinCU also can be used to qualify consumers for credit unions via digital marketplaces either as a white-labeled solution or by implementing it as an API.
“Finovate loves to highlight innovative companies that strive to make consumers’ financial lives easier,” Finovate Vice President Greg Palmer said. “Credit unions make a lot of sense for a lot of people, but despite being around since the 1930s, many consumers don’t feel they really understand the benefits of looking at credit union over a bank. A tool that helps those consumers find and join the right credit union for them could have a big impact on the industry.”
For the first time, Finovate is offering new, expanded content sessions. Expert speakers will give you advice and insights on the trends driving fintech, including banking and payments, security, digital lending, small-to mid-size business banking, artificial intelligence and other emerging technologies. City Credit Union Chief Strategy Officer David Frith and Royal Credit Union Director of Public Affairs & Financial Education Jennifer McHugh are among the speakers on the agenda, as well as CUNA Mutual Group SafetyNet Director Mark Greene and CMFG Ventures President & Managing Director Brian Kass.
CUCollaborate’s mission, since our founding in 2014, is to facilitate collaboration that helps credit unions of all sizes and types accelerate growth while reducing expenses and risk. Our solutions help consumers find, join, and borrow from credit unions and help credit unions attract new members, grow their field of membership, and research vendor partners.
About FinovateSpring: FinovateSpring is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held in Silicon Valley, the event offers an insight-packed glimpse into the future of money via a fast-paced, intimate, and unique format. FinovateSpring is organized by The Finovate Group. For more information on the event or to view videos of previous demos, please visit finovate.com.
Sarah Snell Cooke