ALBANY, N.Y.–SEFCU here said it is partnering with Google to introduce digital accounts, which will be available to its members through Google Pay.
According to the credit union, members who sign up for these accounts will be able to manage their accounts directly and securely through Google Pay, which will give them access to deeper financial insights and budgeting tools.
As CUToday.info first reported here, in 2019 Google announced it was partnering with Stanford FCU in California and Citibank to begin offering checking accounts this year.
“This exciting collaboration will provide members with even greater convenience and security as they bank from their mobile devices, and we are thrilled to be on the cutting-edge of this effort,” said SEFCU President and CEO Michael Castellana in a statement. “We are proud to be working with Google to help our members be smarter with their money.”
SEFU said the digital bank account will be built on top of its existing banking infrastructure and the accounts will be NCUSIF-insured, with Google providing the front-end, intuitive user experiences and financial insights.
“This allows both SEFCU and Google to bring the best of our respective strengths to the table,” SEFCU said. “Google’s experience in building intuitive user experiences and highly scaled and secure infrastructure is a great complement to SEFCU’s financial and regulatory expertise and decades-long commitment to innovation and the digital delivery of financial services.”
A ‘Positive Step’
“We always welcome the opportunity to serve members in person, through one of our video teller machines, or over the phone. We also want to be where they are when they need us. That means offering convenient, secure, and smart financial services on phones, tablets, and computers,” Castellana said. “SEFCU’s engagement with Google is an important and positive step in that direction.”
In its statement, SEFCU said the collaboration will allow it to better serve existing credit union members and new members throughout New York state and across the world.
The new accounts will be available to SEFCU members in 2021.