Educators Credit Union Launches BNPL, First in Wisconsin

Members can now split their eligible debit card purchases to pay over time  

MOUNT PLEASANT, Wis., July 29, 2024 /PRNewswire/ -- Educators Credit Union, a credit union with over $3.3 billion in assets and serving over 230,000 members in Wisconsin, announced that it has added Buy Now, Pay Later (BNPL) to its suite of online banking products.

Educators Credit Union has selected equipifi to power its BNPL solution and is the first credit union to make BNPL available in Wisconsin. With this launch, Educators Credit Union will extend personalized BNPL offers to members on eligible debit card transactions. Members will be able to view and accept pre-qualified BNPL offers in Educators Credit Union's digital banking experience.

"As a member-focused credit union, we are always looking for ways to enhance the overall member experience," said Linda Hoover, CEO and president of Educators Credit Union. "Our partnership with equipifi prioritizes digital convenience and allows our members to access personalized offers in a seamless and efficient way."

"Buy Now, Pay Later is a financial service that consumers want and are increasingly expecting from their primary financial institutions," said Bryce Deeney, CEO and co-founder of equipifi. "By launching BNPL, Educators Credit Union is delivering safe and intuitive access to credit in the way that their membership prefers."

Educators Credit Union joins many credit unions that are first to launch a BNPL solution in their home state, including New York, California, Texas, and Michigan. BNPL is projected to grow at a compounded annual rate of 25.5 percent between 2022-2026. 

About Educators Credit Union
Educators Credit Union is a not-for-profit financial institution committed to helping people make informed financial decisions through educating and advising. We are dedicated to consistently building relationships, providing affordable financial products, and helping those we serve achieve their financial goals. Educators Credit Union is open to anyone who lives or works in southeastern Wisconsin. For more information, visit ecu.com.

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 account holders 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/.

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SOURCE equipifi; Educators CU