Atlanta CUSO to Spread Money Management Tool for Kids

An Atlanta company that offers a financial education product for kids and teens has formed a CUSO following an investment by Curql, which has a fund managed by credit unions.

Greenlight Financial Technology Inc. offers a debit card and app designed to teach kids and teens how to earn, save, give and spend wisely.

The Curql Collective and its first venture capital fund were formed in 2020 and are managed by credit unions. Greenlight said it will use Curql’s investment to accelerate its expansion among credit unions and advance product innovations designed for them.

To do so, it has formed Greenlight Financial CUSO. Credit unions can sign up for Greenlight for Credit Unions, a family banking solution designed to allow credit unions to offer its app free to members.

Greenlight said its debit card and banking app is used by more than six million parents and kids. It allows parents to send money instantly, automate allowance payments, manage chores, set flexible spending controls and get real-time notifications of all transactions.

Kids and teens get hands-on money management experience, along with access to Greenlight Level Up, an in-app financial literacy game.

Greenlight’s current credit union partners include South Bay Credit Union of Redondo Beach, Calif. ($153.4 million in assets, 9,291 members).

“Our partnership with Greenlight has allowed us to better serve families in our community,” President/CEO Paris Chevalier said. “With the Greenlight for Credit Unions solution, we can engage the next generation of SBCU members, empowering them with the financial knowledge and skills they need for a healthy future.”

The Greenlight Debit Card is issued by Community Federal Savings Bank and the Greenlight Family Cash Card is issued by First National Bank of Omaha. Both are licensed by Mastercard.

Greenlight Investment Advisors LLC, an SEC-registered investment advisor, provides investment advisory services to its clients.