Bankjoy hits million-member mark

DETROIT—The Detroit-based digital banking provider Bankjoy announced it had expanded its reach to more than a million members nationwide.

This milestone comes on the heels of adding several more credit unions to its digital banking suite, including:

  • Arapahoe Credit Union of Littleton, Colo., with $150 million in assets and over 11,000 members
  • US Employees Federal Credit Union of Chicago, with $192 million in assets and over 18,000 members
  • Zia Credit Union of Los Alamos, N.M., with $190 million in assets and over 12,000 members

According to Jason Salazar, vice president of operations of Arapahoe, “Despite our size, ACU has been consistently recognized as a leader in the state. Bankjoy is the next step in our digital evolution, allowing us to stay ahead of our members’ expectations while also being cost-effective. We are particularly fond of the help we expect from their voice banking assistant, ‘Joy.’”

Chartered in 1938 by Oklahoma City postal workers, US Employees Federal Credit Union (USE FCU) is also now working with Bankjoy. “Our mission is to provide services that go above and beyond our members’ expectations. Bankjoy is a natural fit to that. We look forward to working with them and the value it will provide our community,” said Michael LeForce, vice president of marketing for USE FCU.

Zia Credit Union is the latest credit union to partner with Bankjoy. Since 1955, Zia CU has been dedicated to empowering generations of northern New Mexican families through personalized service, education and lending. According to Dwayne Herrera, president and CEO at Zia, “We strive to offer our members the best financial experience possible every time they come into contact with us. By adding Bankjoy, we are continuing that commitment on the digital front.”

Added Bankjoy CEO Michael Duncan: “Credit unions have a longstanding history of providing superior service, but they are also taking a more proactive approach to innovation, according to a recent study in PYMNTS.com. In 2020, 12% of credit unions said they launched new products and services before their competitors, and nearly half say they were quick to innovate new solutions after observing market trends. This is an increase from 8% and 30%, respectively, in 2019.”

Bankjoy is a Y Combinator- and CheckAlt-backed company. More at www.bankjoy.com.

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