Chelmsford, MA (January 17, 2024) |
Dora Financial, a marketing and innovation CUSO (Credit Union Service Organization) powered by the credit union movement, today announced the successful completion of an investment funding round in partnership with the Department of Labor Federal Credit Union (Labor Credit Union).
This collaborative endeavor signifies a progressive stride toward Dora's mission to revolutionize the Credit Union industry's approach toward member acquisition from underbanked communities across the United States. The objective of this partnership is to foster a more inclusive financial ecosystem by leveraging cutting-edge technological solutions and innovative strategies.
"We are truly excited about our partnership with Labor Credit Union," said Kristi Kenworthy, Managing Director at Dora Financial. "The LCU investment will empower us to enhance our bilingual mobile banking app further, broaden our reach, and ensure that more underbanked individuals have access to Credit Union financial tools and services to achieve their financial goals."
Dora’s app offers a seamless and bilingual experience, allowing users to perform a range of financial transactions in both English and Spanish. Key features of the Dora mobile banking app include no monthly fee, no minimum balance, early payday with direct deposit, mobile check deposits, a surcharge-free network of 30,000+ ATMs nationwide, bill pay, digital wallet integration, free financial coaching, and the option to seek membership at a participating Credit Union.
“We are thrilled to partner with Dora Financial. This partnership is not just about the present; it's about building a sustainable future.” said Hina Khalid, CFO at LCU. “We aspire to create a lasting impact that extends beyond banking, fostering a culture of financial well-being and community growth. Together, we are committed to addressing the banking needs of the underserved population, ensuring that everyone has equal access to financial services!”