Michigan CUSO's savings, debt paydown partner have paid down $326 million in debt since 2012, company says.
CU Solutions Group partner credit unions seeing results with San Francisco startup in rewards program.
For credit union members, who tend to err on the side of conservative, the Dow’s increase might have aligned with their savings habits.
A new report released last week by the Filene Research Institute indicates that SaveUp, the first free nationwide rewards program that encourages Americans to save money and pay down debt, had a positive impact on savings behavior among those who participated in a six-month pilot study.
The industry push to promote improved savings behavior among consumers while also drawing new business was ratcheted up with a pilot initiative involving 20 credit unions and sponsored by Filene Research Institute and SaveUp, a fledgling San Francisco firm.
Filene Research Institute and SaveUp.com launch pilot initiative at 20 credit unions in 15 states offering customized packages promoting account savings.