NASHVILLE— Volunteer Corporate Credit Union (VolCorp) said it has formed what it calls a first-of-its-kind partnership with Veep, an AI-powered fintech, to roll out Anytime Pay, an earned wage access (EWA) solution designed to deliver real-time access to wages while emphasizing compliance and member-centric features.
Unlike traditional EWA models, Anytime Pay is built specifically for financial institutions, ensuring flexibility for members, safety for credit unions, and responsible access to earned wages when needed, VolCorp explained.
Anytime Pay is a full-service platform that provides convenient access to earned wages using a credit union’s existing digital banking channels. Anytime Pay uses AI to analyze member behavior and assess risk, preventing over advancement and providing liquidity without undue financial stress.
Allowing access to earned wages before payday in a “financially responsible way” helps reinforce sound money management, improve financial security, and reduce dependence on high-cost, risky payday options, VolCorp noted.
“Credit unions are increasingly focused on ways to attract new members, deepen existing loyalty, increase core deposits, attract direct deposits, and capture fee income,” said Karen Clabough, VolCorp’s VP of products and services. “Anytime Pay is an innovative solution that can help credit unions achieve all these goals while improving the financial well-being of their members.”
“VolCorp’s reach across the credit union ecosystem, combined with their commitment to bringing innovative, high-quality solutions to their members, made it the perfect partner for Veep,” said Sharon Kirby-Wright, Veep’s global partnerships director. “We’ve already begun working with several of its credit unions and are excited to expand our partnership to deliver Anytime Pay across VolCorp’s network.”