The African-American Credit Union Coalition (AACUC)
and Wellthi Technologies have established a strategic alliance focused on enabling
credit unions to attract, retain, and engage the young adult audience. Wellthi
Technologies delivers a B2B embedded virtual branch that lives inside mobile banking
apps. With Wellthi, financial institutions can leverage the power of online communities,
social networking, generative AI, and peer networks to attract and retain customers at
a fraction of the cost of maintaining a physical branch.
As a part of this strategic alliance, Wellthi Technologies will provide AACUC members
access with early access to new solutions and selected promotional incentives.
Wellthi leverages its promotional partnerships with Visa, Mastercard, and Discover to
serve community-based financial institutions.
In a June 2024 report from McKinsey & Company the data analysis revealed that while
credit unions’ share of primary banking relationships have held steady at 15%, the
share of new account openings has declined from 15% to 10% over the past two years.
Additionally, credit unions face challenges in attracting younger people, with
millennials’ share of credit union members falling three percentage points, although
Gen Z’s share has remained steady at 10%.
Fonta Gilliam, Founder and CEO of Wellthi Technologies, emphasized the significance
of this alliance, stating that “Wellthi helps credit unions attract low-cost deposits, and
upsell, cross-sell additional products. The tremendous reach and impact of AACUC is
so important to our outreach focused on the credit union community. This relationship
allows us to align with some of the most notable AACUC initiatives, including the
Generation Boost wealth building initiative focused on young adults.”
Renée Sattiewhite, President & CEO of the AACUC, remarked, “The first time I saw the
Wellthi app demo, I knew this was an absolute game-changer for the credit union
movement. If we don’t reach out to young adults and capture their attention, they will
all be going to FinTok and less reputable sources for financial wellness information. We
are excited about bringing forward for credit unions!”
AACUC Website: www.aacuc.org
AACUC Facebook: https://www.facebook.com/AACUC1
AACUC LinkedIn: https://www.linkedin.com/in/african-american-credit-union-
coalition-245a29170/ (about%3Ablank)
AACUC Twitter: https://twitter.com/AACUC1
AACUC Instagram: https://www.instagram.com/aacucctc/
Wellthi Technoligies Website: https://wellthiapp.com/ (https://wellthiapp.com/)
Wellthi LinkedIn: https://www.linkedin.com/company/wellthi/
(https://www.linkedin.com/company/wellthi/)
#FinancialEmpowerment #CreditUnions #YoungAdults #FinTech #WellthiTechnologies #AACUC #DigitalBanking #FinancialInclusion #YouthEngagement #BankingInnovation
