Apple Federal Credit Union Partners with equipifi to Launch PayAdvantage, First in Virginia

Virginia credit union invests in greater financial flexibility and an effortless banking experience by offering Buy Now, Pay Later to members for their debit card purchases

FAIRFAX, Va., May 20, 2025 /PRNewswire/ -- Apple Federal Credit Union (Apple FCU), a financial institution with over $5.3 billion in assets and serving nearly 270,000 members in Northern Virginia, announced that it has added a Buy Now, Pay Later (BNPL) type solution to its suite of online banking products. Branded PayAdvantage, the offering reflects the post-purchase finance nature of its installment options.

Apple FCU selected equipifi, a leading BNPL platform designed for financial institutions, to power its solution, and is the first credit union in Virginia to make this service available. Now, whenever Apple FCU members make eligible purchases on their existing credit union debit card, they will be able to split the payments for these transactions over time. Through equipifi, Apple FCU's PayAdvantage program generates personalized offers to each member's financial context and goals, meeting them where they are with timely access to extra funds. Members will be able to view and accept their PayAdvantage offers in their digital banking experience, and receive the funds in their checking account, typically in moments.

"Flexible financing should be intuitive and effortless, and it's our role as a trusted financial institution to provide a prompt and caring solution to our members," said John Ritchey, Senior Vice President of Lending at Apple FCU. "Partnering with equipifi, our in-house program generates pre-qualified loans tailored for individuals, taking the waiting and uncertainty out of the financing process."

"BNPL is a must-have tool for consumers to stretch their budget and to achieve their long-term financial goals. For years, they have been asking for it from their trusted financial institutions," said Bryce Deeney, CEO and co-founder of equipifi. "Credit unions have been quick to respond with the solution their members need. By launching flexible payment options, Apple Federal Credit Union is committing to a better banking experience for their membership."

Apple FCU joins many credit unions that are first to launch such a solution in their home state. Over sixty credit unions have launched their own BNPL product to their members. equipifi's data shows that over 81 percent of members continue to use BNPL in year two, with overall usage increasing by 38 percent. In the United States, BNPL is projected to grow at a compounded annual rate of 25.5 percent between 2022-2026.

About Apple Federal Credit Union
Established in 1956, Apple FCU is ranked as a top 100 credit union nationwide, serving nearly 270,000 members with $5.3 billion in assets. As a not-for-profit, member-owned institution, Apple serves a diverse community of local education systems and anyone who lives/works in Fairfax, Frederick and Prince William counties in Virginia. Members receive fair and honest products and services at competitive rates in a trusted environment. Apple is committed to making a positive impact locally, not only in financial services, but also in community involvement, financial literacy and charitable giving. Learn more at AppleFCU.org. Federally insured by NCUA. Equal Housing Lender.

About equipifi
equipifi is the leading Buy Now, Pay Later (BNPL) platform for financial institutions in the United States. This is a white label solution designed to align with consumer purchase habits, payment preferences, and financial goals. The equipifi platform seamlessly integrates with leading banking cores and digital banking platforms to deepen customer engagement, grow market share, increase revenue, and provide a single place to view, accept, and manage BNPL plans on their existing banking app. For more information, please visit http://www.equipifi.com/. 

SOURCE equipifi