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  • Writer's pictureKelsie Papenhausen

Debbie Selected by University Federal Credit Union (UFCU) to Power Rewards for Financial Success

Debbie, the #1 rewards app for reaching financial goals, is excited to announce their partnership with UFCU, a Texas-based credit union with more than 381,000 Members and approximately $4.048 billion in total assets. With this partnership, Debbie will be able to offer current and prospective Members cash rewards for meeting their financial goals.



Leveraging Rewards to Help Young Americans Achieve Financial Health

UFCU, headquartered in Austin, TX, a credit union focused on improving the financial success of its Members, chose to partner with Debbie to offer UFCU Members and residents of Texas rewards for reaching their money goals.


Debbie, a tech startup based in New York and Miami, has created the only app to offer consumers cash rewards for making their payments on time, as well as meeting their savings and debt payoff goals. The app uses behavioral psychology and positive reinforcement to help people improve their finances sustainably, rather than offering a quick fix to financial hardship.


“At UFCU, we constantly seek innovative solutions to help our Members build brighter futures. Debbie provides our Members with monthly savings and debt payoff goals, as well as weekly financial psychology lessons to help them develop better financial habits. Introducing the Debbie solution to our Members and employees is an ideal next step for our credit union.”

-Esther Edevold, Vice President, Insights and Innovation at UFCU


Debbie has been able to show 3x improved debt payoff outcomes, as well as an average of $100 saved per month per user.



Debt is at a record high

According to the Federal Reserve, credit card debt is now at a record high of over $1.3 trillion, with the personal savings rate at a record low. In addition, per the CFPB (Consumer Financial Protection Bureau), Buy Now Pay Later debt ballooned over 1000% over the pandemic. All of this is driven by a combination of an overheated market, inflation, and new and easy ways to spend money. Financial institutions have seen this problem impact their Members, leading to lower savings rates, deposits and overall financial health. Debbie found that more than 50% of borrowers rebound back to credit card debt within 12 months of using traditional debt payoff products like balance transfer and debt consolidation. That’s why Debbie built a behavior change rewards program that offers long term strategies to help Members stay motivated and engaged during and beyond their debt payoff journey.


Financial products with bonus rewards

In addition to higher balances, consumers today are facing high interest rates relative to the recent past. As a result, Debbie’s partnership with UFCU will expand access to competitively-priced savings and debt refinance offers, with built-in rewards bonuses for saving.


Who is Debbie?

Debbie was founded by people who were tired of struggling with the vicious debt cycle and built a category-transforming rewards platform. Debbie uses behavioral psychology and positive reinforcement to help people improve their finances sustainably. The company has raised over $2.5M from venture capital investors such as One Way VC, TA Ventures, BDMI, Trustage, MSUFCU and others. The company was founded in 2021 and based in Miami, FL. For any inquiries you can reach us at hello@joindebbie.com.

 

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