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The mobile app is partially funded by a grant that supports expanded outreach to underserved communities
Portland, Ore., April 13, 2022 – Unitus Community Credit Union is pleased to partner with FTSI in the development of a new mobile app to better serve the Black community’s financial needs. Unitus earned a $50,000 grant as part of the National Credit Union Administration’s Community Development Revolving Loan Fund program, which grants funds to expand outreach to underserved communities while improving digital services and security. Unitus is investing the remaining $250,000 into the app’s development.
FTSI’s development of the mobile app supports the Financial Empowerment Collaborative (FEC). The FEC is a pilot program, in conjunction with the Urban League of Portland, to provide financial products, services, and educational materials to Black Oregonians. Advantis Credit Union, Consolidated Community Credit Union, Point West Credit Union, Rivermark Community Credit Union, and the Northwest Credit Union Foundation are all partners in the FEC.
According to data from the Federal Reserve, 14% of Black households in America have no bank account. Unbanked people often use non-traditional methods to access their money, including cashing checks for a fee at a retailer or using payday loans.
The new mobile app introduces Black Oregonians to financial services, connecting them to the credit union that best aligns with their needs. This inclusive process is designed to foster financial and housing stability while creating and sustaining generational wealth.
“FTSI has been a long-time partner with credit unions across the nation. Our core vision, ‘where innovative ideas take flight,’ is lived out through collaborations like this,” said Susan Napier, FTSI’s Chief Executive Officer. “We are honored to participate and serve in a project that advocates for financial equality and inclusion.”
“Development of this mobile app is part of our commitment to the Financial Empowerment Collaborative,” explained Megan Snyder, AVP of Strategic Partnerships. “Along with our other partners in the FEC, we are working toward creating a customized approach to building the financial wellness of underserved communities. The app will provide Black Oregonians with access to needed tools and resources from credit unions.”
About Unitus Community Credit Union
Unitus is a member-owned local credit union that invests in people by doing the right thing. We are dedicated to fostering a culture of belonging for our workforce and members by celebrating diversity, inspiring continuous growth, and standing strong against injustice, creating a safe and inclusive environment for our employees and the communities we serve. Learn about the local impact Unitus makes by visiting unitusccu.com.
About FTSI
FTSI is a minority-owned company and the largest independent provider of custom digital and branch solutions for financial institutions. FTSI offers a full suite of solutions including digital, app development, hardware, software, electronic security, software professional services, project management, service maintenance, cash services, and a range of consultative services.
To learn more about FTSI's app development service, visit https://ftsius.com/app-development/.