OnPoint Community Credit Union, Oregon’s largest credit union with more than $9.4 billion in assets, is diving into digital wealth management through a new partnership with FusionIQ, a wealthtech firm specializing in digital investment platforms, according to an announcement on Tuesday.
The firms said the collaboration will provide OnPoint’s 581,000 members access to FusionIQ’s FIQ Journey, a platform designed for hybrid digital advice and self-directed investing. The move marks a step into a rapidly growing segment of financial services, as credit unions look to compete with larger banks and attract younger, tech-savvy customers.
“At OnPoint, we are dedicated to building strong communities through financial growth and well-being,” said Jim Hunt, senior vice president and CFO at OnPoint. “The FIQ Journey platform aligns with OnPoint’s guiding principle of pursuing innovation to offer simple and effective solutions that support each member’s financial journey.”
Strategic shift for credit unions
The partnership underscores a broader push among credit unions to expand their offerings beyond traditional savings and loans. With younger generations demanding sophisticated financial tools, the competitive stakes are high. For OnPoint, this means enhancing member engagement and tapping into new revenue streams. While some credit unions turn to their broker-dealers for comprehensive investment and wealth management solutions, others could be turning to solutions providers like FusionIQ to serve their membership, which features a significantly larger share of smaller accounts.
Eric Noll, CEO of FusionIQ, emphasized the value of bringing wealth-building tools to new communities. “FusionIQ’s innovative platform allows community-based financial institutions like OnPoint to offer turnkey digital investment solutions,” he said. “We’re thrilled to support OnPoint’s commitment to democratizing access to wealth-building tools for their members, helping them retain and grow their member base with a proven, digital-first experience.”
The FIQ Journey platform integrates into OnPoint’s existing systems, providing members with a user-friendly entry point into investing. FusionIQ’s technology also allows institutions to quickly deploy white-labeled solutions, enabling OnPoint to maintain its brand identity while offering state-of-the-art services, according to the press release from FusionIQ.
Challenging the status quo
Credit unions have long positioned themselves as community-focused alternatives to traditional banks. However, this latest development reflects an industry evolving to keep pace with fintech trends. While larger banks such as JPMorgan Chase and Wells Fargo invest heavily in their proprietary wealth platforms, credit unions are turning to partnerships like this one to stay relevant. The platform also enables OnPoint to leverage Arete Wealth as a broker-dealer for self-directed accounts, while FusionIQ provides registered investment advisory services.
A win for both parties?
While the partnership represents a milestone for OnPoint and FusionIQ, it also signals an emerging trend: wealthtech and community banking convergence. As consumer expectations evolve, the future of financial services may depend less on the size of the institution and more on its ability to deliver digital-first solutions.
