The $6.8 billion-asset institution partnered with FusionIQ to launch digitally advised and self-directed investment platforms as part of a push to attract and retain younger generations of consumers.
“All institutions are competing to become the primary financial institution for new and existing customers, [and] a platform that provides digital investing for all members makes the institution more attractive,” McNeely said. “As an offensive move, this platform would be considered a sticky product, strengthening the retention of banking customers.” The wealthtech offering could become a source of fee revenue for the credit union as well.
