ELGIN, Ill.– Kane County Teachers Credit Union said it is now offering buy now, pay later (BNPL) financing to members.
The $417-million KCTCU, which said it is the first in Illinois to offer BNPL financing, has partnered with equipifi, on the offering. The credit union said its members will receive personalized BNPL offers on eligible debit card transactions, which can be viewed and accepted directly through KCT Credit Union's digital banking platform.
"At KCT Credit Union, we are committed to offering safe and user-friendly financial products that support our members' financial well-being," Sergio Rodriguez, SVP at KCT Credit Union, said in a statement, according to StreetInsider.com. "By partnering with equipifi, we can provide a BNPL platform that tailors loans to our members' specific needs, offering them a level of transparency and convenience that third-party solutions simply cannot match."
In announcing the new offering, equipifi cited data that projects growth of BNPL financing of 25.5% between 2022-26.
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