Cornerstone Financial Credit Union has become the first credit union in Tennessee to offer a Buy Now, Pay Later (BNPL) service to its members. This innovative payment solution, powered by equipifi, allows members to split eligible purchases into manageable installments directly through their existing Cornerstone debit cards.
"Our mission has always been to provide our members with financial solutions that are both convenient and beneficial," said Donna Young, CEO of Cornerstone Financial Credit Union. "By introducing BNPL, we're offering a flexible payment option that aligns with our commitment to meeting the evolving needs of our community."
The BNPL service integrates seamlessly with Cornerstone's digital banking platform, enabling members to select installment payment plans at the point of purchase without the need for additional applications or credit checks. This approach ensures a user-friendly experience while promoting responsible spending habits.
"We are thrilled to partner with Cornerstone Financial Credit Union in bringing BNPL to their members," said Bryce Deeney, CEO of equipifi. "This collaboration reflects our shared dedication to enhancing the financial well-being of credit union members through innovative technology."
As the first credit union in the state to launch a BNPL service, Cornerstone aims to set a precedent for member-focused financial solutions in Tennessee. The credit union plans to monitor the program's success closely and gather member feedback to continually refine and improve the offering.
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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.
