LIVONIA, MI (June 5, 2013) CU Solutions Group® is thrilled to announce that its partner SaveUp© is one of eleven finalists competing for the prestigious Annual Core Innovators Mega Challenge from Core Innovation Capital and the Center for Financial Services Innovation (CFSI). Finalists are competing to be named the most promising new idea in serving the 80 million underbanked American consumers known as the Emerging Middle Class. The winner receives $10,000, broad media exposure and a complementary consulting session with the CFSI Advisory Services team.
“CU Solutions Group and SaveUp have a shared mission of helping credit unions serve the underbanked,” states CU Solutions Group President and CEO David Adams. “SaveUp leads the pack in using innovative technology to engage members while giving credit unions the opportunity to become a steady financial partner in their members future.”
The 2013 Mega Challenge will be featured at the 8th Annual Underbanked Financial Services Forum in Miami in June. Finalists are asked to present a live show-and-tell demonstration of their product, take part in a Q&A session and will be voted on by the live audience at the forum. Attendees include hundreds of financial services executives, investors, researchers, nonprofits and government leaders.
“The Mega Challenge is truly a unique opportunity for us to showcase all the benefits SaveUp has to offer financial institutions,” explains SaveUp CEO Priya Haji. “We pride ourselves on offering credit unions and their members, especially Gen X and Gen Y, innovative solutions to help them save money and pay down debt. We feel we’re a natural fit in meeting the needs of the Emerging Middle Class.”
"We are thrilled to announce SaveUp as one of eleven finalists offering a broad and compelling range of services to the 80 million Emerging Middle Class consumers known as the underbanked," says Arjan Schütte of Core Innovation Capital. "Each of these companies meets our 3D banking criteria – the ability to offer a disruptive, digital and democratic solution that serves this market at scale."
CU Solutions Group and the member engagement program SaveUp first joined forces in October, 2012 to help credit unions build stronger member relationships and generate new leads for products. With a gamification approach, SaveUp is also helping credit union members achieve their financial goals while having fun.
CU Solutions Group serves the credit union industry nationwide by offering essential solutions in four key areas: marketing, technology, membership enhancements and performance management. It was formed out of the combination of CU Village and HRN Management Group, and is owned by hundreds of investors made up of leagues, credit unions and credit union system organizations. Learn more at www.cusolutionsgroup.com, www.facebook.com/CUSolGroup or www.twitter.com/CUSolGroup.
Founded in 2011, San Francisco‐based SaveUp created the first free nationwide rewards program that encourages Americans to save money, pay down their debts and make positive changes in their financial behavior. By partnering with major consumer brands and financial institutions, SaveUp gives users the opportunity to win exciting or life‐changing prizes for performing positive financial actions. Learn more at www.saveup.com.
Core Innovation Capital is a leading investor in financial technologies serving the Emerging Middle Class, the 80 million Americans that generate over $1 trillion in annual income and spend more than $78 billion in fees and interest on financial services. Core partners with proven entrepreneurs and invests in disruptive financial technologies that measurably improve the lives of the Emerging Middle Class. The Core Impact Alignment investment thesis leverages social impact to create above-market financial return. For more information about Core Innovation Capital, visit www.corevc.com or follow @coreemc.