What’s the Impact of Offering a Digital Investment Product for FIs?

By Eko
November 26, 2024

Today, less than 1% of Americans invest with their credit union, with the majority opting for third-party apps such as Betterment, Acorns or Robinhood. As a result, FIs are not only losing deposits, but also members to third-party firms who are actively promoting their high-yield bank accounts and credit cards.

At the same time, 53% of Americans indicate that they prefer to invest their money with their credit union, a place they already know and trust.

Credit unions who don’t offer a low-threshold digital investment solution are missing out, while CUs who offer digital investing increase their number of investing members from <1% (today’s average) to 9.7% within a year, while also increasing stickiness, non-interest revenue and attracting younger members.

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About Eko

Eko enables credit unions to offer digital investing starting from $10, directly on their existing banking platform via our natively integrated white-label solution.

Learn more about Eko