#4057: WSECU Leverages Goodbuy to Connect Small Business Accounts with Members -- Even Non-Members...

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Scott Daukas, Principal at One Washington Financial, and Goodbuy’s CEO/Co-founder Cara Oppenheimer joined us on the show to share how the two organizations (WSECU) conducted a recent, successful proof of concept (PoC) and now ready to move forward to leverage Goodbuy's branded-marketplace that connects small business accounts with individual members.

Scott and Cara shared results from the proof of concept, showing high engagement from members (and non-members), as well as interest from local businesses. Future plans involve scaling the partnership and expanding the pilot program, emphasizing collaboration in the credit union and fintech sectors for community-driven success.

Q&A summary...
What is the main focus of Goodbuy as a company?
Goodbuy builds white label marketplaces that connect credit union members with local small businesses, creating value for both parties through discounts and incentives.
How does Goodbuy's partnership with WSECU benefit credit union members?
The partnership allows credit union members to access local businesses, driving deposit growth and enhancing member value through community engagement.
What unique features does Goodbuy offer to credit unions?
Goodbuy allows credit unions to offer their members the ability to shop local and support businesses that align with their values, such as women-owned or veteran-owned businesses.
What were some key results from the proof of concept conducted with WSECU?
The proof of concept showed high engagement, with nearly 10% of contacted members expressing interest in adding their businesses to the platform, indicating strong member involvement.
What challenges did Goodbuy face when transitioning from a consumer-focused model to working with credit unions?
Goodbuy had to navigate compliance challenges and adapt their approach to fit the credit union model, which differs significantly from direct-to-consumer strategies.
What is the significance of the community access pass introduced by WSECU?
The community access pass allows members to easily identify and engage with local businesses that participate in the Goodbuy marketplace, enhancing community ties.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details. Don't miss this one.