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September 2, 2020 | 0 min read
BECU has helped members transfer more than $1.5 million into savings accounts using 'Quick Save' during current COVID-19 pandemic
SILICON SLOPES, Utah, Sept. 2, 2020 /PRNewswire/ -- MX, the leader in money experience, spotlighted BECU at the first annual Money Experience Summit for its efforts to empower its members to be financially strong during the current COVID-19 pandemic. The annual spotlight highlights one organization that is using the power of data to affect financial health and social change among their members and in their local community.
At the beginning of the pandemic, BECU identified a segment of its members who did not have automatic savings set up and likely needed help finding ways to save money. To address this, BECU implemented the Quick Save feature in their mobile app, which allows members to easily transfer funds to their savings account by using the 'slide to save' panel on their dashboard. By making the act of saving as simple as a swipe, BECU helped their members build a savings habit. To date, Quick Save has helped members transfer more than $1.5 million into savings accounts.
'For many years BECU has been a critical and deeply aligned partner of MX. They are resolute in their determination to strengthen the financial well-being of their members and their community,' said Nate Gardner, Chief Customer Officer of MX. 'Working closely with BECU to develop a tool that helps nudge and guide members to flex their savings muscle inside of mobile banking has been a thrill, and it exemplifies BECU's ardent commitment to financial strength and providing money experiences with major positive impact on the hundreds of thousands of members they serve.'
MX, the leader in money experience, is built on the belief that financial data should be accessible and actionable for all. MX gives your customers a seamless way to move, view, and interact with their money. We call this the Money Experience. Founded in 2010, MX is one of the fastest-growing fintech innovators, powering more than 2,000 financial institutions and 43 of the top 50 digital banking providers to improve the financial lives of tens of millions of people worldwide. To learn more, visit www.mx.com.
BECU is federally insured by NCUA. With more than 1.2 million members and more than $22.2 billion in assets, BECU is the largest not-for-profit credit union in Washington and one of the top five financial cooperatives in the country. As a member-owned credit union, BECU is focused on helping increase the financial well-being of its members and communities through better rates, fewer fees, community partnerships and financial education. The credit union currently operates more than 50 locations in Washington and two financial centers in South Carolina. For more information, visit www.becu.org.