A new strategic partnership between the New York Credit Union Association and the San Francisco-based fintech company SimplyCredit aims to help New York's credit unions combat online disruption and accelerate lending growth.
Through the partnership, SimplyCredit will enable consumers to refinance high-APR credit card balances with participating New York credit unions using a mobile and web interface.
"Credit card debt amounts to about $1 trillion and most of it is expected to revolve," NYCUA President/CEO William J. Mellin said. "SimplyCredit encourages New Yorkers to turn to credit unions to pay down their debts, while also helping the state's credit unions as they look to grow loans and memberships."
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
