Financial Plus Credit Union Releases Member-Driven Digital Platform Tech

The financial industry is always looking for ways to make its services more member friendly, more convenient and easier to use. The COVID-19 pandemic has accelerated that urgency to meet members’ growing digital banking needs.

The latest credit union to implement such a digital platform to improve the member experience was the $662 million Financial Plus Credit Union in Flint, Mich., which serves over 55,000 members in 34 counties in Michigan.

FPCU has partnered with Member Driven Technologies (MDT), a CUSO that provides a private cloud alternative for core processing and IT needs, to implement the Banno Digital Platform.

According to the announcement, FPCU is using the platform to extend its digital reach with an experience that provides personal service and is as “relevant as in-person encounters.”

“This is an exciting time in the industry; members are exploring new and different ways to conduct their banking from within digital channels,” Brad Bergmooser, president/CEO of FPCU, said. “COVID-19 really put an exclamation point on what we already believed: The future of banking is digital. We expect to see greater, faster adoption in the pandemic’s wake as more people embrace new ways of banking.”

MDT, which serves credit unions representing more than $22 billion in assets and approximately two million members, sees its platform as a way to help differentiate credit unions from large banks.

“It’s become imperative for credit unions to offer a seamless digital banking experience and anytime, anywhere access to financial tools,” Larry Nichols, president/CEO of MDT, said. “With the Banno Digital Platform, leading institutions like Financial Plus Credit Union can accomplish this while also incorporating personal interaction into the digital channels – a major differentiator and something that sets credit unions apart from large national institutions.”