Amplify CU Is Thinking Big With New Banking Program

After a summer of record-breaking heat in Austin, Texas, officials with the $1.4 billion Amplify Credit Union are once again turning up the temperature on the competition with a new banking program that will dispatch personal bankers and lenders throughout Central Texas.

The Austin-based Amplify has partnered with Workforce Solutions Capital Area to pilot the new service which aims to remove barriers to receiving financial assistance and education services in a way that the credit union comes to the member – not the other way around.

“One of the biggest limitations of traditional banking is that banks make customers come to them for personalized service,” Stacy Armijo, chief experience officer at Amplify, said. “Historically, service flexibility has only been offered to those with the highest balances. At Amplify, we believe our members deserve equal and equitable access to financial services at every stage of life – from their very first paycheck to life in retirement. Through our community banking program, we’re flipping the script by sending our bankers into community organizations and workplaces to build relationships and offer individualized support.”

According to information provided by Amplify, “The program will operate through Amplify Collab, a website that community organizations and employers can use to connect those they serve to fee-free banking, financial education, first-time homebuyer education and more.”

Workforce Solutions Capital Area CEO Tamara Atkinson explained the pilot program. “When our clients are entering a period of professional transition, it can lead to them experiencing financial vulnerability,” said Atkinson. “Implementing this service from Amplify Credit Union adds to what we can provide to our clients, not just security in a new job but with their finances as well.”

Armijo said this pilot program prioritizes financial inclusion because it benefits everyone.

“Financial inclusion isn’t just good for business but also for our community. Most people can relate to periods in life of feeling financially powerless,” said Armijo. “In many cases, this is due to the lack of available resources and not a lack of effort on their part to better understand their finances. The bottom line is, you don’t know what you don’t know. That’s why Amplify is committed to meeting individuals eye-to-eye to show them the power they have to make smart banking decisions.”

As part of its 10-year vision to change the way banking is done, Amplify dropped its fees in 2022 as a precursor to this pilot program.