PALO ALTO, Calif. — The initial group of six large U.S. credit unions all taking part in the much-heralded launch of Zopa Ltds social networking venture are likely to be joined by more that belong to the Member Gateways network, it was disclosed Wednesday.
Just how many of the 24-CU Member Gateways might start next month for the British firms broadened marketing campaign was not disclosed but officials of the South Bend, Ind.-based Member Gateway said they are enthusiastic partners and are very supportive of this concept which reaches out to a youthful demographic.
The Zopa pilot is aimed at demonstrating CUs ability to serve the so-called youthful Generation X and Y, attracted to popular online sites like Facebook and My Space.
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The public excitement has already been created and the real marketing begins in January, said Stuart Fisher, vice president of business development at the $2 billion Addison Avenue FCU, one of the original six. Others in the initial group include: USA FCU, San Diego; Forum CU, Indianapolis, Affinity Plus FCU, St. Paul, First Technology CU, Beaverton, Ore., and Provident CU, Redwood City, Calif.
Since Thanksgiving when the London finance firm launched a test run and publicity blitz, the six through Zopa have already been accepting new member borrowers and CD investors taking part in the peer-to-peer lending idea.
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