The Illinois Credit Union System (ICUS) announced today that it has donated $14,000 to local area food pantries across the country as part of its Commit to Change Committee’s holiday giving campaign. The generous contributions help provide much-needed food assistance to families and individuals struggling with food insecurity during the winter months.
 
“We are proud to support our local communities through this donation,” said Libby Calderone, CEO of the Illinois Credit Union League (ICUL) and Envisant. “Food insecurity is a serious issue in many parts of the country, and we are committed to helping those in need gain access to healthy, nutritious food.”
 
The Commit to Change Committee, a volunteer group within ICUL, spearheads the organization’s DEI efforts. Each year, the committee selects worthy causes to support and provides ongoing inclusion focused events. This year as the holiday season neared, the committee focused again on food insecurity, recognizing the growing need for assistance in communities across the country.

"Cool Food Pantry is incredibly grateful for the support of the Illinois Credit Union System during the holidays," said Mindy Lindholm, Executive Director of COOL Ministries. "This generous contribution has been instrumental in helping us to fulfill our mission of feeding the hungry and providing assistance to our community members throughout Lake County Illinois."
 
ICUS employees presented checks to food pantries in Illinois and Florida. These food banks were recipients of checks from ICUS:

• Aurora Area Interfaith Food Pantry
• Batavia Interfaith Food Pantry
• Between Friends Food Pantry
• Central Illinois Food Bank
• COOL Ministries Food Pantry
• Glen Ellyn Food Pantry
• Glen-Ed Pantry
• Hope and Friendship Food Pantry
• Messengers of Hope Mission, Inc
• Milton Township Food Pantry
• Nourishing Hope
• Village Baptist Church Food Pantry

BALANCE has partnered with Ovation Ventures (formerly known as Paperwork) to elevate the financial wellness journey for our clients. This collaboration combines BALANCE’s proven expertise in high-touch financial coaching with Ovation’s cutting-edge fintech capabilities to create a transformative, integrated financial wellness tool.

Together, we’re designing a platform that empowers users with personalized insights, actionable resources, and seamless support to achieve their financial goals. Ovation’s reputation for innovation in fintech makes them the ideal partner to help us deliver an intuitive, impactful solution for individuals and communities alike.

Ronaldo Hardy, BALANCE’s incoming CEO, shared his excitement about this pivotal moment: “I’m incredibly excited to join BALANCE at such a transformational time. This partnership with Ovation Ventures allows us to meet people where they are, delivering financial wellness in ways that truly resonate with their needs and expectations. Together, we are creating something that will not only empower individuals but also strengthen the communities we serve.”

“We're honored to collaborate with BALANCE in taking financial wellness to new heights,” said Kevin Cimring, CEO of Ovation. “Our technology enhances BALANCE’s trusted financial education and counseling programs, combining the best of digital innovation with the human touch. This hybrid approach results in a personalized and engaging experience that delivers real outcomes, while meeting the needs of today’s digitally driven world.”

This innovative tool isn’t just for end-users—it’s a game-changer for our business partners nationwide. With advanced analytics, enhanced customization options, and a commitment to ongoing improvements, our partners will gain powerful new capabilities to better serve their members and achieve greater impact.

Financial wellness isn’t one-size-fits-all. That’s why we’re committed to providing tools and services that are as unique as the people who use them—accessible, flexible, and impactful.

Stay tuned as we redefine financial wellness and continue to make a positive impact, one success story at a time!

CUNA Strategic Services is pleased to announce its new alliance with Sparrow, a trailblazer in fintech disruption. This collaboration aims to help credit unions meet the unique lending and engagement needs and aspirations of Gen Z and Millennial members.

“The alliance between Sparrow and CUNA Strategic Services is a commitment to revolutionizing how credit unions connect with younger generations,” stated Barb Lowman, President of CUNA Strategic Services. “In the digital age,
innovation is imperative. Through Sparrow's advanced lending technology, credit unions are equipped to seamlessly adapt to the dynamic needs of Gen Z and Millennials, ensuring a future where credit unions are the institutions of choice for younger members.”

Sparrow’s white-labeled lending marketplace not only assists younger members in solving their hardest financial challenge (such as financing their education) but also leverages marketing analytics and automations to provide tailored recommendations from the credit union that result in loyal, long-term members.

Harrison Hochman, Sparrow’s CEO and co-founder, remarks, “I realized while on campus that none of my friends knew what a credit union was, even as some of them took out indirect loans from actual credit unions.” Sparrow reverses the paradigm of non-engagement. “Our alliance with CSS is a pivotal step to help credit unions across America respond to the call of the next generation, and usher in a new chapter of engagement."

Sparrow proudly partners with over 85 credit unions, ranging from institutions with $34 billion in assets to those with just $6 million.

Credit unions transitioning to Sparrow's platform have seen:

• 70% of all users being younger non-members who state interest in becoming members after harnessing the service
• Access to 260+ unique data attributes per Gen Z user, and pre-set automations to create deep, multi-product relationships with them
• The ability to be the active relationship builder with a younger member, as opposed to handing them, and their data, to affiliate partners at this formative time in their lives

Sparrow enables credit unions to focus on what they do best – deeply understanding their members’ needs and adopting innovative solutions that transform their financial futures.

For more information, visit Sparrow’s provider page.

​Achieva Credit Union announced today it has earned the prestigious Juntos Avanzamos (Together We Advance) designation, a national recognition of its unwavering commitment to serving and uplifting Hispanic and immigrant communities. This milestone places Achieva among an elite group of just three credit unions in Southwest Florida to attain this honor, reaffirming its leadership in promoting financial inclusion and empowerment. 

The Juntos Avanzamos designation, awarded by Inclusiv, highlights organizations that prioritize underserved communities, particularly Hispanic and immigrant populations, by providing accessible financial services and fostering economic mobility. In the past year alone, Achieva Credit Union has provided $4.3 million in consumer loans to non-U.S. citizen residents, breaking down barriers to financial opportunities. The credit union also introduced a Spanish-language website and phone line, ensuring inclusive access to financial services. In addition, Achieva Credit Union expanded on its celebrated ‘Cash Class’ series to include Spanish-language webinars and in-person workshops, empowering families and individuals with the tools to achieve financial security. 

“Our Hispanic and immigrant communities deserve more than just access to financial services—they deserve a partner who invests in their dreams and supports their journey toward prosperity,” said David Oak, Chief Marketing Officer at Achieva Credit Union. “Earning the Juntos Avanzamos designation reflects our long-term commitment to being that partner, not only for the Hispanic community but for all our members. We’re honored to join this network of changemakers advancing financial empowerment across the nation.” 

“On behalf of Inclusiv and our growing family of Juntos Avanzamos designated credit unions, we congratulate Achieva Credit Union for their commitment to financial inclusion for Hispanics and for recognizing the opportunities that lie in serving this community,” said Jean Carlos Rosario Mercado, Program Officer at Inclusiv. “By expanding access to affordable, responsible, and relevant products and services, Achieva provides effective, valuable, and highly needed tools to strengthen Hispanics’ abilities to build assets and multiply their contribution to local economies and the nation at large.” 

To mark its new designation, the Achieva Credit Union will host a Proclamation Ceremony at a later date which will be open to members, community partners, and the public. For more information on Achieva Credit Union and its programs, please visit Achievacu.com. 

​Velera – formerly PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – today announced the introduction of its Card on File solution, which enables cardholders to seamlessly update payment methods across more than 115 merchants.
 
Now commonplace in the increasingly digital age, card on file transactions are those made using cardholders’ stored account credentials to execute purchases with authorized merchants, often for recurring or subscription payments. Available through Velera’s DX Online and DX Mobile platforms, along with APIs, Card on File will provide credit unions with the ability for cardholders to push new or updated credentials to merchants, allowing for real-time updates and eliminating the need for cardholders to go into each account and update their credentials directly – a key source of dissatisfaction in critical moments when outdated cards on file lead to lost transactions. In addition, by putting cardholders in full control of recurring online payments, members should see a reduction in card declines and missed payments.
 
“Velera’s Card on File product provides a direct answer to a key pain point among cardholders, who are conditioned to expect frictionless digital and mobile experiences – whether from e-commerce service providers like Amazon and Netflix or from their trusted financial institution partner,” said Cody Banks, SVP, Product Experience & Enablement, Velera. “This solution will help credit unions deliver a comprehensive and user-friendly cardholder experience, relieving the burden of replacing cards on file and ultimately increasing member satisfaction to earn top- and share-of-wallet status, alongside strengthened loyalty.”
 
Beyond the key member benefits of this solution, Card on File also has the potential to increase credit unions’ transaction volume. Once members experience the ease and convenience of Card on File, they will likely choose to keep their credit union-issued card on file with other merchants moving forward, generating increases in revenue from interchange, interest and member lifetime value.
 
Velera’s Card on File solution is now available to financial institutions through DX Online and DX Mobile.

Patelco Credit Union, a Bay Area-based credit union dedicated to the financial wellness of its team, members and communities, announced its strategic partnership with United Way Bay Area (UWBA). Through UWBA’s impactful SparkPoint Centers, Patelco and UWBA advanced financial wellness initiatives, including the highly successful SPARK Your Savings Emergency Grant Program, designed to help low-income individuals build emergency savings and develop lasting financial habits. 
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UWBA’s SparkPoint Centers work with families to meet their basic needs, increase their income, build their credit, increase their savings, and reduce their debt. Financial coaches at SparkPoint work one-on-one with clients to recognize behavioral outcomes, set goals, brainstorm strategies, and develop realistic action plans. Focusing on leveraging clients' strengths, building motivation, and providing ongoing monitoring and accountability, SparkPoint Centers serve low-income families seeking to improve their financial situation, offering all services at no cost to community members. 

“At Patelco, our mission is to improve the financial health and well-being of our members and the broader community,” said Erin Mendez, CEO of Patelco Credit Union. “The SPARK Your Savings Emergency Grant Program exemplifies our commitment to providing practical solutions for financial empowerment. Partnering with United Way Bay Area allows us to amplify this impact and reach those who need it most.”

Patelco’s collaboration has proven successful through its innovative financial education programs. Central to this partnership was the SPARK Your Savings Emergency Grant Program, launched by Patelco in 2024. The program achieved remarkable success in equipping participants with tools to establish and grow emergency savings. Key results include:

• 63 enrollees in the program
• 48 graduates who successfully achieved $300 in emergency savings
• $4,800 in grant payouts to support emergency savings

Graduates of the program reported transformative insights and habits that will enhance their financial futures. These include budgeting techniques, saving for both short- and long-term goals, understanding the benefits of credit union membership, and the importance of setting savings goals and sticking to them.
Participant Testimonials:

• “I learned the importance of saving for a rainy day and setting short- and long-term goals.”
• “Saving consistently, even a little, adds up. Automatic payments have been a game-changer.”
• “Patelco’s webinars and resources inspired me to open a high-yield savings account and pursue estate planning.”
• “Holiday budgeting and decluttering made my financial planning more effective and less stressful.”

Looking ahead, Patelco and UWBA plan to collaborate on financial education classes for SparkPoint ambassadors and cohorts, continuing to build on this partnership’s strong foundation.

​Digital banking provider Tyfone today announced ELGA Credit Union (ELGA CU, Grand Blanc, Mich.-based, $1.55 billion in assets, 98,000 members) selected its nFinia® Digital Banking Platform for retail and commercial account holders. 

“We want to help our members plan for the future and to do that we need a state-of-the-art, modern architecture that can deliver a personalized experience to each account holder.” said Zach Eychaner, VP of Digital Experience at ELGA CU. “From the very beginning, our teams were completely aligned in our vision, and we knew that Tyfone could provide tools that take digital banking to another level. Tyfone was not just our vendor, it was our true business partner for success.” 

ELGA CU was ranked Michigan’s #1 Credit Union on Forbes’ list of America’s Best-in-State Credit Unions for 2024. According to the credit union, the top factors considered when vetting digital banking platforms were the freedom and flexibility to choose third-party fintechs and trust in its digital banking provider to be a true partner. ELGA CU felt that Tyfone would deliver the tools, features and experiences they wanted, with the ability to scale and expand the reach of the institution as the credit union’s membership grows.  

As a Community Development Financial Institution (CDFI), ELGA CU goes beyond traditional banking services, focusing on providing access to affordable financial products and services that empower individuals, small businesses and underserved communities. To further this mission, the credit union operates a mobile branch that travels to underbanked areas of the state to make banking services more accessible. Additionally, the nFinia platform’s open, fully configurable framework enables ELGA CU to select the personal finance and financial wellness tool to support member needs.  

“One of ELGA CU’s primary goals is to serve the underbanked in our community,” said Eychaner. “There are people who need support, not judgement, in improving their financial situations. Tyfone offers tools that can help our members get a clearer picture of what their current financial situation is, while providing insights and guidance into what they can do next. Tyfone will help us deliver the human touch, without requiring a member to come into the branch or speak with our team.”  
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“Credit unions need to keep up with the pace of technological innovation, and Tyfone is committed to helping community financial institutions compete and offer the best digital tools for their account holders,” said Siva Narendra, CEO of Tyfone. “We view ELGA CU as a true partner and member of the Tyfone family. We are confident we will deliver a digital experience that improves the financial lives of their members and are thrilled to collaborate on solutions that move the needle.”