Veridian Credit Union today announced it planned to integrate the mobile, social and P2P payments tool set offered by Dwolla into its online banking product. This will be the first instance of a shared password for both a credit union's online banking services and Dwolla, said Veridian.
“Our members had been requesting 'a service like PayPal.' Dwolla, we believe, now offers more capabilities than PayPal,” said Brett Engstrom, Veridian's manager of web services.
Engstrom indicated the Dwolla tools would become available to Veridian's members in Q1, 2012. He also said Veridian anticipates that as many as 20 percent of current online banking users would migrate into using Dwolla in the first year.
Des Moines-based Dwolla, which offers a platform that allows users to send, receive, and request funds from any other user, is presently operational at two credit unions, Ace and Financial Plus, both located in Iowa.
The Members Group, a key Dwolla partner, indicated that a dozen more credit unions are in the process of implementing Dwolla.
Waterloo-based Veridian, with $1.4 billion in assets and 145,000 members, is Iowa's largest credit union.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
