Debbie Selected by Chartway, Rize, and Royal CU to Help Grow Their Membership

Debbie, the first member growth and loyalty-as-a-service platform, is excited to launch Chartway Credit Union (VA), Rize Credit Union (CA), and Royal Credit Union (WI) as part of their Debbie Preferred Partner Network. 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

Chartway CU, Rize CU, and Royal CU, all credit unions focused on improving the financial success of their members, chose to partner with Debbie through Filene’s lab. Filene is a leading credit union think tank, which specializes in innovation and research to help credit unions compete in the financial marketplace.

Debbie has created a platform that helps financial institutions grow and engage their members by rewarding their community for positive financial behavior. Users can access Debbie for free by joining a financial institution in Debbie’s Partner Financial Network and earn rewards for saving, paying off debt, and making on-time payments. The app uses behavioral psychology and positive reinforcement to help people improve their finances sustainably, rather than offering a quick fix to financial hardship.

“Helping Chartway members manage their money is a top priority. The pilot program with Debbie through Filene’s lab is a great way for Chartway to test money management gamification with Millennials and Gen Z and encourage smart savings habits with this younger segment.”

-Rob Keatts, Executive Vice President & Chief Strategy Officer of Chartway CU

“Royal Credit Union is excited to participate in the Debbie pilot with Filene’s Lab to drive future innovation within the credit union movement. Royal is committed to helping its members improve their financial well-being and achieve their goals”

-Colin Boone, Royal Credit Union Vice President- Digital Experience

Financial wellness is at a record low

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.

Debbie has been able to help its users save over $5m, see a 35% reduction in delinquencies, and refinance millions in credit card debt.

Who is Debbie?

Debbie is the first rewards app for financial wellness. Debbie uses behavioral psychology and positive reinforcement to help people improve their finances sustainably. The company has raised over $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 New York, NY. For any inquiries, you can reach us at hello@joindebbie.com.

About Filene: Filene Research Institute strengthens organizations through innovative research and incubation to improve consumer financial well-being. As an independent cooperative finance think tank, Filene’s membership network connects a community of leaders and bright minds to change lives through innovation, truth, and cooperation. In addition to delivering cutting-edge, actionable academic research, Filene also provides incubators to test and scale solutions, events to spark organizations into action, and advisory services to help accelerate and implement innovation. For more information, visit filene.org and follow on LinkedIn.

About Chartway Credit Union

Since 1959, Chartway has been unlocking the potential of individuals and families so they can thrive. Member-owned and values-driven, our $3B credit union proudly serves more than 260,000 members with branches in Utah, Texas, and Virginia. We’ve been recognized by Forbes as one of America’s Best-In-State Credit Unions, included on American Banker’s Top Credit Union to Work For list, and received numerous other top workplace and best credit union accolades. Reflecting a bright way forward, our charitable arm – the Chartway Promise Foundation – has granted $16M to provide medically fragile children and their families memorable experiences that bring joy, hope, and smiles. For information on our vibrant organization, please visit www.Chartway.com and follow us on Facebook, Twitter, and Instagram.

About Rize Credit Union

Founded in 1952 and later becoming SCE Credit Union, Rize Credit Union is a not-for-profit, mission-driven financial institution proudly serving California and Nevada and helping its members thrive – realizing potential through education and a full suite of banking products. Their mission is to uplift communities by providing the knowledge, access, and care that empowers all individuals to achieve lasting financial security and providing banking in underserved areas is a core commitment. It is a Community Development Financial Institution (CDFI) designated by the U.S. Department of Treasury. For more information on Rize Credit Union, please visit RizeCU.com or follow them on Facebook, Instagram, X and LinkedIn.

About Royal Credit Union

Royal Credit Union is a federally insured credit union proudly serving over 300,000 Members in Minnesota and Wisconsin. Royal is driven by a core ideology built on a strong purpose and values. You can open an account or apply for a low-rate loan at Royal Credit Union if you live or work in 26 counties in western Wisconsin or 16 counties in Minnesota. Counties served in Wisconsin include Adams, Ashland, Bayfield, Barron, Buffalo, Burnett, Chippewa, Clark, Douglas, Dunn, Eau Claire, Jackson, Lincoln, Marathon, Pepin, Pierce, Polk, Portage, Price, Rusk, Sawyer, St. Croix, Taylor, Trempealeau, Washburn, and Wood. Counties served in Minnesota include Anoka, Carver, Chisago, Dakota, Goodhue, Hennepin, Isanti, Olmsted, Pine, Ramsey, Scott, Sherburne, Wabasha, Washington, Winona and Wright. A complete list of Member eligibility requirements is available on the Royal Credit Union website. To learn more about Royal, visit rcu.org or call 800-341-9911.