Secures Initial Financing from Reseda Group
March 5, 2024: Members Mobile, a new mobile phone service provider established exclusively for credit unions and their members, is now a Credit Union Service Organization (“CUSO”) – having secured its initial CUSO financing from Reseda Group, a wholly-owned CUSO of Michigan State University Federal Credit Union, that invests in innovative startups focused on the credit union industry.
Members Mobile offers affordable, nationwide 4G/5G mobile phone service to current credit union members and entices new, younger members to engage digitally with their favorite credit unions. In addition to saving money on their mobile phone service, in partnership with their preferred Credit Union, Members Mobile subscribers will get special rates on credit union services and will benefit from a curated set of financial wellness and education applications.
Credit unions have struggled with retaining and acquiring younger members as Gen Z and Millennials leave for digital and ‘neobanks’ and larger financial institutions and avoid physical branches. Members Mobile provides a state-of-the-art mobile and digital engagement platform with a unique combination of mobile and banking data through which credit unions can personalize experiences and offers to their members.
Members Mobile Founder and Chairman Gary Brandt explained, “We are committed to the credit unions and their mission and will empower their members with savings, financial wellness, engagement and the best deal on high quality mobile phone service.”
Reseda Group’s Chief Operating Officer, Ben Maxim, said, “Members Mobile is the mobile and digital platform credit unions have needed to engage current members and attract new younger generations looking for smartphone-based financial solutions.”
About Reseda Group:
Headquartered in East Lansing, Michigan, Reseda Group is a wholly-owned credit union service organization of MSU Federal Credit Union (MSUFCU). Formed in 2021, Reseda Group changes the way people interact with their finances and how financial institutions engage with their consumers. By leveraging innovative products developed in-house and through its partnership ecosystem, Reseda Group is making financial technology and engagement solutions more accessible and approachable to the industry. Learn more at resedagroup.com.
About Members Mobile::
Members Mobile is a new Mobile Virtual Network Operator (MVNO) offering affordable nationwide 4G/5G mobile phone service and financial wellness fintech solutions to credit unions and their members.The mobile phone service platform increases engagement for current members and helps credit unions attract new younger members with great savings and added financial wellness benefits. Learn more at membersmobile.us.