Dwolla Plants First Flag Outside Iowa
After a string of announcements of adoptions by Iowa-based credit unions, Des Moines-headquartered P2P and mobile payments innovator Dwolla has now announced its initial adoption by an out-of-state credit union, West Virginia United FCU in Charleston, with roughly 4,500 members and $30 million in assets.
“Dwolla is just starting – I expect a lot of great things from them,” said West Virginia United CEO Linda Bodie, a “self-described geek” who explained her readiness to take this plunge thusly: “The minute I heard about Dwolla I wanted it here.”
Bodie estimated that “5 to 10% of our members will be using Dwolla within six months. It’s very easy to use, it has great integration with social media, it’s convenient. Dwolla is letting us enter mobile payments easily and affordably.”
As for when additional non-Iowa institutions will jump on the Dwolla platform, Brian Day of The Members Group, a key Dwolla business partner, indicated that “we are working on non-Iowa institutions every day. You will see more announcements early next year.”
At Dwolla, communications director Jordan Lampe added, “We are growing Dwolla via word of mouth. As one institution adopts it, more follow. “