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San Diego's largest credit union, Mission Federal Credit Union, announced an expansion of its mobile and digital banking products with the addition of the P2P platform Zelle to its digital banking universe.
According to a statement from Mission Fed ($4.9 billion in assets, 267,217 members), as of Thursday, Zelle will be option for members to use on its mobile and online banking platforms.
"Our culture at Mission Fed prioritizes member service, and that's what we have continued to do throughout the pandemic," said Mission Fed President/CEO Debra Schwartz. "Introducing Zelle to our members was another step in expanding our digital options. We're proud to join the growing number of financial institutions that now offer Zelle."
Zelle is one of the more popular P2P platforms in the country used by consumers to send money from one account to another almost instantaneously.
According to the credit union, its expansion of the digital experience for members is a key priority for Mission Fed. Vice President of Digital Channels and Strategy for Mission Fed, Pawan Johar said, "At Mission Fed, we've been focused on implementing solutions that make life easier for our members and community."
Zelle has been a popular P2P addition for numerous credit unions during the pandemic. Last October, fintech giant Fiserv announced it had added or enhanced P2P payment capabilities for more than 200 credit unions and banks in 2020 using the Zelle Network.
Two months earlier, CO-OP Financial Services announced its new partnership with Zelle to provide the P2P service to credit unions it serves.
Like Fiserv, CO-OP and other credit unions, Mission Fed saw the peer-to-peer need grow as the pandemic wore on.
"This became even more relevant during the pandemic. While we kept our branches open, members still needed the ease of mobile and online options. Zelle is a key piece of our ongoing strategy."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
