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Incent, a digital youth banking solution, announced the launch of its CUSO Wednesday, reinforcing its commitment to helping credit unions better engage the next generation of members.
Backed by an investment from Pioneer Federal Credit Union ($712 million in assets, 49,000 members), the CUSO aims to give credit unions a strong voice in shaping Incent’s youth banking platform. Pioneer EVP Tracey Miller emphasized the need for digital innovation in youth outreach.
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“Credit unions are uniquely positioned in their communities to provide services and guidance to our members, no matter their age,” Miller said. “Pioneer is proud to support the Incent CUSO and its mission of building tools that attract the next generation of members.”
Attracting younger consumers has become a growing priority for credit unions. A 2022 study from CUNA, before it merged with NAFCU to become America’s Credit Unions, found that only 7% of credit union members are aged 18–24, compared to 18% of the U.S. population. Incent’s platform transitions children to adult accounts at age 18, helping credit unions retain long-term relationships and revenue.
“Creating a CUSO reinforces Incent’s commitment to partnering with progressive credit unions who want to redefine the future of banking,” Incent President and COO Marcell King said. “With Pioneer’s support, we can continue to develop solutions that provide a safe, educational, real-world banking experience for families.”
Miller added that the platform “offers inventive and fun ways to encourage saving, giving and fostering positive money management skills, while offering financial literacy tools to build a solid financial foundation for the future.”
The CUSO structure allows participating credit unions to shape Incent’s development while keeping deposits and interchange revenue within the credit union system.
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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.
