Financial Health, Organization, and LifeTidy: A Credit Union Opportunity

LifeTidyRocket mortgage financial health for credit unions

Should credit unions care about their members’ financial health? Should they provide any tools to help with it?

If you answered “yes” to either of those questions, you should keep reading.

If you answered “no,” then you should read this guide, change your mind, and then come back here and continue reading.

Now, it’s time to dive into LifeTidy and how credit unions can improve members’ financial (and organizational) health.

The Link Between Organization and Financial Health

Life can be messy and complicated and there’s always a lot of paperwork. Take my last month, for example:

  • My grandmother recently passed and it’s taking my father months to settle her estate;
  • My wife has a growing stack of medical bills and paperwork from an as-yet unidentified issue; and
  • Last week, I found out I was paying more than $300/month in subscriptions I no longer used.

You can probably think of similar issues in your own life. The average member could, too.

The issue is this: people receive an incredible amount of bills, critical financial documents, medical documents, policy change documents… this list could continue ad nauseam. Most members:

  • Live without a robust document organization and storage strategy;
  • Don’t know how much they pay per month on subscriptions; and
  • Don’t have backups of their property docs, legal docs, employment contracts; insurance docs… you get the idea.

Fortunately, credit unions can actually help members organize their money, bills, medical paperwork, documents, and more. Here’s what that looks like:

Introducing LifeTidy

LifeTidy bills themselves as a platform that stores all of life’s key information. Financial, medical, legal, utility, and more, all in one place. They incorporate open banking, so users can actually connect and consolidate everything.

The result? One app that connects a dozen others, plus a digital vault so users can securely scan, store, monitor, and share all their important paperwork.

A few basic bullet points you might care about:

  • It’s ultra-secure and equipped with bank-level encryption;
  • Can be a value-add or additional revenue stream;
  • Increases loyalty and lifetime value.

Imagine one app that tells you when a subscription is about to renew—and allows you to cancel it. The app also houses digital copies of your will, your car title, your ID and passport, all of your insurance information, property deeds, employment or contract information, utilities, investments…

And it’s all connected to your credit union.

Basically, LifeTidy digitizes life admin. Open banking makes it more useful than a simple digital vault, too. Learn a bit more about how it works here:

Additional Resources

LifeTidy is exploring a product market fit with credit unions at this time. Their goal is to improve quality of life and financial health through digital life organization.

LifeTidy simplifies life admin by keeping track of polidcy renewals, IDs, financial statements and more, storing it all in one place, easily accessible anytime, anywhere. We think this has legs for credit unions that want to offer a financial health solution to their members.

Like what you’ve seen so far? Sign up for our Fintech Call Program and get a personalized, 30-minute call each quarter. We’ll discuss the latest technologies and solutions, make key introductions, and offer early access to events, giveaways, and more!

And of course, please subscribe to our blog (if you haven’t already)!

Recent Posts