Investors include The Reseda Group, the wholly owned CUSO of MSU Federal Credit Union, supporting Members Mobile’s mission to help credit unions save money for members and deepen engagement
BROOMFIELD, Colo.--(BUSINESS WIRE)--Members Mobile Inc. (“Members Mobile,” the “Company”), the credit union-focused mobile service provider integrating mobile phone plans with financial technology solutions, today announced that Members Mobile CUSO has secured investment from four credit union investors, including The Reseda Group, the wholly owned credit union service organization of MSU Federal Credit Union (MSUFCU). The investment supports Members Mobile’s launch of a nationwide 4G/5G mobile service custom-built specifically for credit unions to expand membership and deliver unique value to existing members.
Members Mobile CUSO was created to help credit unions use the omnipresence of the smartphone to extend their financial relationship with existing members while also attracting new ones. Through Members Mobile CUSO, credit unions can bundle credit union financial products and services, including deposit checking accounts, with Members Mobile’s simple mobile plans, reliable nationwide 4G/5G service, premium VIM Support, Cash ShareBacks™, Data SafetyNet™, and digital financial onboarding through the Company’s proprietary VIMplicity™ platform.
“The Reseda Group is one of the most credible voices in credit union investment and CUSO innovation,” said Gary Brandt, Chairman of Members Mobile CUSO. “Their decision to invest in Members Mobile CUSO signals that the credit union community is ready to embrace creative digital tools to serve and attract members. Three more credit unions following Reseda’s lead further underscores the Company’s alignment with the credit union community’s drive to save members money and deliver extraordinary service. It was always by design that we wanted to have a selected group of Credit Unions to ensure alignment from day one.”
The Members Mobile CUSO platform connects mobile service activation with digital account opening through its VIMplicity™ platform and MeridianLink integration, enabling members to enjoy the full benefits of affordable mobile phone service with an existing credit union account or to open a new one, all digitally in one single app without visiting a branch. VIMplicity™ is custom designed to give credit unions a turnkey digital platform for both member retention and new member acquisition.
“Securing investment from four credit union investors, including The Reseda Group, validates what we have built from within the credit union ecosystem, and accelerates what we can do next,” said Luis Jimenez-Tunon, Co-founder of Members Mobile. “Globally, fintechs and neobanks are embracing mobile service plans as the next frontier to service and engage customers. We are pleased to bring these advanced capabilities to the credit union movement, ensuring that credit unions can remain relevant in an increasingly digital marketplace. Thanks to the investment in Members Mobile CUSO, credit unions can own and shape the future of their members connectivity with the trust, values and transparency that their members deserve.”
Members Mobile has recently launched service with MSUFCU as its founding credit union partner, with additional credit union partners representing more than 2.5 million members signed on for early expansion across the United States.
Credit unions can learn more at membersmobile.com. Members can learn more and download the Members Mobile app in the Apple App Store and Google Play Store.
About Members Mobile
Members Mobile is a nationwide 4G/5G mobile service custom-built to help credit unions save their members money, keep them digitally connected, and deepen the financial relationship between members and their credit union. Operating as a Mobile Virtual Network Operator (MVNO) on one of the fastest nationwide 4G/5G networks, Members Mobile pairs simple, transparent plans and premium support with benefits like Full-Speed Data, Data SafetyNet™ protection, and Monthly Cash ShareBacks™ paid directly into the member’s credit union account. Through its proprietary VIMplicity™ platform and MeridianLink integration, Members Mobile connects mobile activation with digital account opening, helping credit unions drive member growth, non-interest income, and member engagement while giving members a mobile experience backed by an institution they already trust.
Learn more at membersmobile.com
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