• CU 2.0 Podcast Episode 325 Union Credit's Barry Kirby on Embedded Finance

  • Nov 6 2024
  • Length: 36 mins
  • Podcast

CU 2.0 Podcast Episode 325 Union Credit's Barry Kirby on Embedded Finance

  • Summary

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    Just about every credit union wants - indeed needs - new members and that’s exactly what Union Credit focuses on by providing embedded finance tools to deliver a steady stream of new members to participating credit unions.


    And get this: credit unions sign month to month deals with Union Credit. So it has to perform to keep credit unions. And a credit union can tell Union Credit how many new, approved and funded loans it wants to get this month.


    On the show today is CRO and co-founder Barry Kirby and you know him because he was SVP at CuneNexus which in 2020 was bought by CUNA Mutual. The basic CuneXus idea was to provide tools that let a credit union show members loans and credit cards they already were pre-approved for.


    Union Credit, which has TruStage, formerly CUNA Mutual, as a key investor is taking the kernel of that idea and helping credit unions extend pre approved loans to current non members who - and this is key - can easily be memberized. How does Union Credit work that magic? Kirby gives the details in this show.


    How many credit unions have in effect created an obstacle course for prospective new members to complete before they are accepted as a member and that also means before they are offered a loan? And how many of those prospects drop out before they complete the obstacle course?


    Union Credit offers a better, easier path, both for the prospective member and the credit union.




    Listen up.

    Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

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    Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto



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