ANN ARBOR, Mich.– 4Front Credit Union said it is partnering to offer Plinqit, a savings app that pays users for learning about personal finances, helps members save money and creates higher engagement for financial institutions. A grant from the Michigan CU Foundation is making the program possible.
The credit union said it was seeking a solution to encourage members to practice practical saving habits with an incentive and progressive friction. The credit union further said it initially considered creating the tool internally, but decided that working with a strategic partner created a more effective and quicker path to a compelling product. In response, 4Front CU tapped HT Mobile Apps (HTMA) to implement Plinqit.
The Plinqit platform pays users for engaging with content through its patent-pending “Build Skills.” Through the app, users can grow their knowledge of finances by simply watching a video or reading an article from the Plinqit library, then taking a short quiz and receiving a reward for learning more about financial wellness, the CU added.
A Michigan CU Foundation grant is helping 4Front offer Plinqit. MCUF supports solutions like Plinqit as ways to make long-term impacts on the financial futures of Michiganders, according to the CU.
“At 4Front Credit Union, we consistently seek ways to pair convenience with impact through technology and process improvements. We wanted to find a tool that would help our members create better financial habits by saving – that’s why we selected Plinqit,” said Zach Eychaner, SVP-strategic innovation at 4Front Credit Union. “We view Plinqit as an engaging, easy-to-use platform. The app employs the right amount of friction to encourage savings without creating barriers for those encountering unplanned expenses while pursuing their savings goals. By expanding our digital offerings to include Plinqit, we can continue to empower members through innovative financial tools. We are proud to offer Plinqit.”
CUToday.info has coverage here of another CU that is also offering the Plinqit solution.