PORTLAND, Ore. (10/17/14)--The Northwest Credit Union Association (NWCUA) and its Strategic Link subsidiary have launched betaSpace, an online marketplace where credit unions can help finance promising financial technology startups.
"Credit unions are ready for the fintech revolution," said Troy Stang, NWCUA president/CEO. "Although some might not have the resources to develop new technologies internally or search out the latest innovations themselves, collectively as an association we can find and vet the most promising fin-tech startups and connect them with our members through betaSpace."
Startups selected for betaSpace will offer Northwest credit unions access to their technologies at preferred prices (Anthem Oct. 9). betaSpace already has launched two companies: Profits4Purpose and LifeCounts.
LifeCounts is an online tool to help people manage their financial lives. It securely links all of their accounts, even those from different institutions, into one central dashboard. Users can see an overview of their full financial situation, receive personalized spending insights and budgeting advice, and set up goals and alerts to help them move their finances in the direction they choose.
Through betaSpace, LifeCounts has committed to link any Northwest credit union into its proprietary aggregation system at no cost to the credit union, and with no work on the credit union's part.
San Diego-based Profits4Purpose helps institutions discover, track and report their charitable work, including volunteerism, individual giving and grant management. Its client list includes both credit unions and several Fortune 500 companies.