MADISON, Wis. -- Popular in Scotland, Australia and Canada, aninnovative, account that pools all of a member's accounts includingsavings, loans, mortgage, checking and credit cards into oneaccount, has moved one step closer to implementation by creditunions in the United States.

Members of the Filene Research Institute's i3 team, NACUSO, PSCUFinancial Services and others met on Feb. 27 in Chicago to discusshow to bring the Flex.One account to credit unions in America. Themember's entire loan is a line of credit, which allows the balanceto be paid down when there is excess savings and withdrawn shouldthose savings be needed. It also allows access via ATM, checkwriting, debit card, point of sale, ACH, and other features, whichaim to make a separate checking account unneeded.

"It was a great opportunity for Filene and wascollaboration at work," said Denise Gabel, chief innovation officerat Filene. "We're talking about a 2005 idea that was incubated inFilene i3 and how we could work together to bring it to life and tohouseholds across the United States."

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.