Every day people – maybe thousands of them – are turned away by financial institutions, credit unions included. These people, by necessity, utilize the periphery of financial services such as payday lenders and bill pay via pricey money orders.
It’s expensive to be poor.
Wouldn’t it be nice if credit unions could do more to help these people get back on a healthy financial path?
It could in fact be life changing.
Enter Cambio, an app that gamifies finance and, along the way, gives its users a debit card and also rewards them for their smart financial behaviors such as paying an electric bill on time.
Along the way, Cambio is working with the Illinois Credit Union League and Cambio founder Blesson Abraham said that he envisions significant roles for credit unions with Cambio. Case in point: credit unions may want to get dibs on Cambio users that have successfully turned around their financial behavior.
Just that is exactly what Cambio is about: helping consumers change their behavior around money.
Many credit unions want to do more on that theme in their community. So check out Cambio.