CHELMSFORD, Mass.–The CUSO Dora Financial said it has entered into a partnership with InComm Payments that will enable its mobile banking app users to make cash deposits to their Dora accounts at any of the 88,000 retail locations via InComm Payments’ Cash Payments network and technology platform nationwide.
Cash load services are eligible only for accounts issued by USAlliance Financial, the CUSO said.
As CUToday.info reported here, Dora Financial was launched in 2021 by four credit unions, and today is owned by Affinity Plus FCU, in St. Paul, Minn.; Digital Federal Credit Union in Marlborough, Mass.; Inclusiv in New York; Department of Labor FCU in Washington, D.C.; Service Federal Credit Union in Portsmouth, N.H. and USALLIANCE Financial in Rye, N.Y.
The offering is named for credit union pioneer Dora Maxwell, and is specifically for low-to-moderate income individuals who are currently underserved by the traditional banking industry.
‘Millions Excluded’
“To this day, millions of individuals have been excluded from the modern financial landscape due to a lack of access to traditional banking services,” the CUSO said. “Those that are cash-dependent often find themselves facing significant challenges in depositing and managing their cash or paying exorbitant check cashing fees.”
The CUSO added the new Dora cash deposit feature allows users to instantly add cash to their Dora account, empowering individuals with newfound financial freedom, including paying bills, making online purchases, and securely saving for the future.
‘Constantly Striving’
"We are constantly striving to empower Dora users with financial tools that meet their unique needs. Our new cash deposit feature is another step towards making banking more inclusive and accessible for everyone," said Kristi Kenworthy, managing director at Dora Financial. “Now, Dora users can easily add cash to their account and participate in the digital economy, enjoying the benefits of modern banking without the traditional limitations.”
To make a cash deposit, Dora customers securely log into the Dora mobile banking app, select the deposit cash feature, and generate a cash deposit barcode on their phone. They simply present their unique barcode and cash to the cashier at any participating retailer to make their deposit, with funds appearing in their account in real-time, the CUSO added.
‘Right of Their Fingertips’
Added Mark Smith, VP at InComm Payments, “InComm Payments’ Cash Payments Network and account funding technology is perfectly aligned with Dora Financial’s vision of providing access to fair financial services to everyone. Dora customers will benefit from over 88,000 locations in which to load funds with a simple, secure and convenient solution that’s right at their fingertips.”
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