financial services – Blog Campcee Tue, 15 Mar 2022 22:19:07 +0000 en-US hourly 1 financial services – Blog Campcee 32 32 FOM Modernization Enables UCs ​​to Reach Left-Behind Banks | 2022-03-15 Tue, 15 Mar 2022 22:19:07 +0000

The Expanding Financial Access for Underserved Communities Act will allow credit unions to provide financial services to more communities, often in areas that banks have abandoned or shown little interest in serving. CUNA wrote: at the leadership of the House Financial Services Committee on Tuesday. Committee Chair Maxine Waters, D-California, introduced the membership modernization legislation supported by CUNA and the League.

CUNA sent its letter in response to a March 10 letter from the American Bankers Association on the bill. CUNA’s letter notes that banks closed a network of 7,812 bank branches while credit unions opened a network of 1,439 credit union branches between January 2005 and March 2021, according to its research.

“The decrease in the number of bank branches demonstrates the profit-making approach of bankers over people when it comes to financial services,” the letter read. “The increase in the number of credit union branches demonstrates that credit unions are not only committed to providing services to communities, but also to being physically present in those communities.

“Credit unions will never apologize for our dedication and commitment to providing financial services to the most vulnerable Americans,” he adds.

Specifically, the bill:

  • Allow all federal credit unions to add underserved areas to their membership scope
  • Exempt business loans made by credit unions in underserved areas from the credit union member business loan limit.
  • Expand the definition of an underserved area to include any area more than 10 miles from the nearest branch of a financial institution.

“Any serious discussion of policy solutions to improve access to financial services for underserved or unbanked people, businesses and communities must include modernizing laws and regulations that prevent credit unions from serving those whom banks left behind,” the letter reads. “The area of ​​credit union membership restrictions and the cap on lending to member businesses excludes those who need access to traditional financial services. This legislation is not a panacea to these exclusionary policies, but it does represent a solid step forward toward financial inclusion and serving those who have been unable to access our country’s financial institutions.

Cuentas donates $20,000 to Smile Train as part of social impact collaboration with Miss Universe Tue, 15 Mar 2022 12:04:46 +0000

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Miss Universe 2021, Andrea Meza and Miss Mexico 2021, Debora Hallal have teamed up with mobile banking app and debit card provider Cuentas to enable the donation

MIAMI, FL/ACCESSWIRE/March 15 2022 / Cuentas, Inc. (NASDAQ: CUEN)(NASDAQ: CUENW) (“Cuentas”), a leading financial technology provider of mobile banking and payment solutions, has donated $20,000 to Smile Train as part of of her social sponsorship with the Miss Universe Organization (MUO), Miss Universe 2021, Andrea Meza and Miss Mexico 2021, Debora Hallal.

The two titleholders and the Miss Universe organization ran a social media campaign in December around the 2021 show, to encourage subscribers to download the Cuentas mobile banking and payment app. For each download, Cuentas donated to MUO’s chosen charity. Smile Train, the non-profit and charitable organization that provides corrective surgeries for children with cleft lip and palate, is an important cause and a long-time partner of the Miss Universe Organization. The campaign resulted in a $20,000 donation from Cuentas, which will fund many cleft surgeries.

“At Smile Train, we are committed to ensuring that every child has access to safe, quality cleft care. This generous donation will change the lives of hundreds of people affected by a cleft lip and/or palate 100% free . and comprehensive fissure care,” said Troy Reinhart, Senior Vice President, Smile Train International Development. “Thank you to Cuentas and the Miss Universe Organization for partnering to not only raise funds, but to raise awareness to help advance Smile Train’s vision of supporting the global crack community.”

“The Cuentas team is especially proud to contribute to Smile Train, knowing that every surgery has such a significant and positive impact on children’s lives,” said Cuentas CEO Jeff Johnson. “We are grateful for the collaboration of the Miss Universe Organization, Ms. Andrea Meza and Ms. Debora Hallal in raising awareness to support this contribution.”

“Smile Train has been a long-time partner of the Miss Universe Organization,” said Paula M. Shugart, president of the Miss Universe Organization. “We are thrilled to partner with Cuentas, Andrea and Debora, to continue to shine a light on all the incredible work that Smile Train does, in Mexico and around the world. Promoting causes and organizations like Smile Train is a important part of the foundation of our organization and we hope to continue to work with Cluster for Change to be able to support as many good causes as possible.”

The program was facilitated by Cluster for Change, a social impact activation platform. “Working with a client like Cuentas, our partner the Miss Universe Organization, and a nonprofit like Smile Train is the perfect storm for what social impact media should be,” said Cluster for Founder/CEO. Change, CR Celona. “Brands and creators benefit from engagement; causes get the opportunity to do the work and consumers are the glue that holds it all together.”

Available on the Apple App Store and Google Play Store, the Cuentas app is the convenient mobile banking app that gives consumers access to their money, whenever they want. Cuentas Cardholders can send money to other Cuentas Cardholders at no cost, access exclusive cardholder discounts, and access their money up to two days faster when directly depositing their pay or their government benefit checks.

Anyone 18 or older can download Cuentas app and ask for a card. There is no credit check, background check, or bank account required, and cardholders can register with an Individual Tax Identification Number (ITIN) or Social Security Number (SSN) and the consular matrícula is also accepted as a form of secondary identification. It’s easy to load money to get started, learn more about

About Cuentas

Cuentas, Inc. (NASDAQ: CUEN & CUENW) is a fintech banking and e-commerce provider with proprietary technology that provides digital financial services to underbanked and unbanked Hispanic, Latino, and immigrant populations, including mobile and online banking, prepaid debit, ACH and mobile deposits, remittance, peer-to-peer money transfer and other services. The Cuentas General Purpose Reloadable Card (GPR) includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. For more information, visit

About the Miss Universe Organization

The Miss Universe Organization (MUO) is a global community that empowers women to achieve their goals through experiences that build confidence and create opportunities for success. MISS UNIVERSE The programs provide the 10,000 women who participate each year with an international platform to effect positive change through influential humanitarian and professional efforts. Nominees and title holders are leaders and role models in their communities, develop personal and professional goals, and inspire others to do the same. The Miss Universe organization is an IMG company. To learn more, visit

About Cluster for Change

Cluster, a social impact app and impact creation agency, puts brands at the center of cause-based marketing campaigns. We turn words into action by co-hosting real events with brands that give back. This all works together to create greater brand affinity with measurable brand engagement. Cluster also has a venture capital studio that backs or builds lasting brands for a generation hungry for change. A better future starts with hello. Find Cluster online:




Forward-looking statements

This press release contains “forward-looking statements”, as that term is defined in Section 27a of the United States Securities Act of 1933, as amended, and Section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include all statements regarding beliefs, plans, expectations or intentions regarding the future. Except for historical information presented herein, the matters discussed in this press release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by these statements. Statements that are not historical facts, including statements that are preceded, followed or that include words such as “believe”, “plan” or “expect” or similar statements, are forward-looking statements.

Investor Relations
Cuentas, Inc.
[email protected]

THE SOURCE: Cuentas, Inc.

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Moray Firth Credit Union promotional video shows potential customers why the lender beats the banks Sat, 12 Mar 2022 09:00:00 +0000

Moray Firth Credit Union founder Lorna Creswell hopes more people will get the message.

A credit union that was founded in Forres and is growing through Moray has launched a promotional video.

The Moray Firth Credit Union (MFCU) – which now has collection points in Elgin and Buckie – advertises the financial services it offers, including loans at lower interest rates than the big banks.

Jackie Nicol, head of finance and promotion, confirmed the advert was funded by a donation from the Fairer Moray Forum, which also provided sponsorship for a Forres Area Soccer 7s team.

She said: “We try to let people know who we are and how we can help people. The video shows people that we are an alternative option when borrowing money. In addition to the banks, we are much cheaper than some of the loans offered on TV.

“We also charge our interest on the declining balance, have flexible payment options and encourage members to save a small amount while they borrow. They have a nice surprise at the end of their loan and they have built up savings!

Credit unions take a people-centered approach to economic development that redirects wealth into the local economy and places control and benefits in the hands of local people.

“We also help people on benefits to borrow,” added Jackie. “We have a strict lending policy and work closely with credit reference agency Equifax to ensure we lend responsibly. Credit unions have more flexible repayment options that encourage saving as the loan is paid off, creating a nest egg for the future. And there are no prepayment charges.

Produced by Ian Forsyth of Inverness-based DP Digital Media in January, the MFCU advert runs on social media, the MFCU website and at the social enterprise’s offices.

Lorna Creswell, founding member of the MFCU, added: “The MFCU has money to lend and it would be nice to see it circulating locally! Our assets come from interest earned on borrowings. If we achieve a surplus at the end of the year, our members could receive a dividend based on their savings.

See the video on

Give meaning to your financial brand Mon, 07 Mar 2022 11:00:20 +0000


Quick, think of a bank or cash register announcement… What do you imagine?

A young smiling man with the keys to his new car? An older couple gardening or biking? A photo of their new mortgage officers? The sincere promise that their employees make all the difference?

How about a little less buttoned up? Maybe you’re the “fun” brand. So, you’re probably using an image of the team at a local nonprofit event, with a message about how the financial institution has been part of the community for decades.

The fact is, most financial marketers get lost in a sea of ​​similarity.

The last thing any financial marketer wants to do is take a risk on anything, especially when it comes to their marketing. The fear is that if you do something different, you won’t be recognized as a bank.

It’s normal to want to look and feel safe and trustworthy. However, safe and trustworthy without any personality will not be the way to people’s hearts.

When you say your employees really make a difference and you put your employees in every ad to help illustrate that, you end up with ads that blend in with all the other financial institutions, financial planners, real estate companies, and medical providers that do the exact same thing, with the exact same promise that their people really are the best.

So what do people really want to know more about your financial brand?

When surveyed, financial consumers say they want the basics from their financial institution: low fees, great rates and good customer service. These features are therefore central to the marketing and product development of almost every bank or credit union, because “that’s what people want”.

But there is a problem, and it is a big problem. These are the characteristics that financial institutions have educated consumers on. So when we ask about wants, consumers repeat exactly what they have been trained to assess by their banks and credit unions.

Banks are asking the wrong questions, making decisions based on the answers they’ve trained consumers to give, and then wringing their hands worrying that consumers see them simply as providers, rather than partners.

But that’s not all. Here are some sobering facts for FI leadership:

  • When asked “what is critical to your future financial success?” only one percent of participants in a FICO study mentioned their financial institution.
  • In another study, only 29% of survey respondents say they trust their financial institution to look after their long-term financial well-being, up from 43% in 2018. [2]
  • In a 2020 Accenture study, only 29% of survey respondents said they trust their financial institution to look after their long-term financial well-being, up from 43% in 2018. [3]
  • In February 2021, FICO released market research that looked at the role individuals see banks and financial services playing in their financial future. The results should make any bank executive tremble. When asked “what is critical to your future financial success?” only one percent of survey participants mentioned their financial institution. [4]
  • 70% of FICO study participants said they would be “likely” or “very likely” to open an account at a competing financial institution if they offered products and services to address these large unmet needs. ladder.

However, the way forward is clear and it all depends on the emotional connection people have with their money.

Beyond accounts, you have people who are completely invested in your brand. It’s the customers or the members who will say “oh my God, I love this bank!” when they see someone with a debit card they recognize. The people who give you a 10 on every NPS poll, would attend every annual barbecue, and might have you on their holiday card list.

These promoters can be your greatest asset, and these relationships are worth nurturing. They are the people who will help you stand up for yourself when things go wrong and promote any changes you make, if you give them the tools to do so.

But you also have detractors. And competitors. And whole new categories of people you need to attract to your IF from a massive number of options, all searchable and discoverable 24/7. No pressure, right?

What if you stopped only communicating with your brand through promotions and pricing…and thought more about what your organization stands for, how it is received, and what it should mean to your target audiences?

These are big questions, but the first step in any important strategy is to identify where growth is likely to occur. And that always pays to get back to your brand’s roots. Consider these questions:

  • What is our brand “why?” Is this something anyone in our organization, at any level, can articulate?
  • What are we defending? What should we represent? Hint: “excellent customer service” and other feature-based answers are not considered an answer here.
  • What was the reason for our last four promotions?
  • Who are we most often mistaken for?
  • What crazy ideas have we not implemented? Why didn’t we?
  • What do you find most liberating about our brand?
  • What do you find most restrictive about our brand?

Once you really start digging, the opportunities to grow your brand (and your business) become hard to miss, and the long-term results become far more valuable than a promotion or an offer.

Ready to unlock your brand’s true potential? It’s not about showing your employees and saying they’re competent and service-oriented, that’s what everyone else does.

Finding out how to understand people is always the first step.

[1] FICO® Research Infographic, What do people really want from their banks?2021

[2] Ron Shevlin, The Phantom Financial Lives of AmericansFICO/Cornerstone Advisors, 2020

[3] Making digital banking more human2020 Accenture Global Banking Consumer Study, 2020

[4] Anna Hamilton, What customers really want from their, February 10, 2021

How does Buy Now Pay Later (BNPL) work for businesses? Fri, 04 Mar 2022 10:54:45 +0000

To attract a wider range of customers, many owners of retail businesses with point-of-sale systems are adopting a Buy Now, Pay Later (BNPL) payment model. The BNPL method has evolved largely due to changes caused by COVID-19 and the increase we have seen in online shopping.

So what is BNPL for business and how can it help you accelerate your profits? We explore the answers to this question to help you get started and attract a new type of customer.

What is buy now, pay later? BNPL Definition

According to the latest figures from merchant services giant Worldpay, as noted by, “BNPL is now the fastest growing online payment method – accounting for more than 5% of all This has seen the size of the BNPL market triple in 2020, with 5 million people using BNPL since the start of the pandemic.

This payment method allows consumers to spread the cost of paying for their goods and services, usually over a six-week period, into four equal installments. The repayment period and the amount of the installments may vary.

At first glance, it looks like a layaway or just using a credit card. So what’s the difference? Well, one big difference is that many BNPL options are interest-free. Another point to note is that the retailer requires the consumer to select a payment option in advance, for example, six payments by a certain date, pre-determined with the purchase.