Over the last year, we have learned a few things about our users and partners:
They wanted to feel motivated for making progress, not just reaching goals
They wanted to have additional benefits for banking with our partners
They wanted Debbie points to have a specific cash value
Now - all 3 things are true. A month ago, we launched Rewards 2.0 - our redesigned rewards program, the first of its kind to offer “credit card points, but reversed”.
Here is a teaser reel, with a description of how Rewards 2.0 works further down in the email
GDP growth this quarter was moderate, bolstered mostly by consumer spending (to be honest, we expected worse given the closing of the Strait of Hormuz and some international turmoil). However, things could most certainly get worse.
According to the WSJ, Americans with higher incomes are starting to fall behind on payments (120+ day delinquency is up) - delinquencies are the highest they’ve been since 2017. FHA loans and student loans are getting hit particularly hard, which means the government will need to find a way to make up the shortfall. For now, government-held loans have been much more impacted than bank-held loans.
So what does all this mean? It means the government will probably start garnishing wages directly to get their money back. The oil supply chain shock may burn its way into our pockets soon (through inflation). Those two things (less disposable income and higher costs), could be problematic to say the least. Let’s all pray for a quick end to this war.
Now Debbie users are able to earn 1 point per dollar of saving and debt payoff, and multipliers (2-3x) on their activity with Debbie partners. Here are some of the initial results:
We started seeing a significant number of folks activate to their partner accounts (and we also saw a lot of round-up/micro-deposit savers)
Now, partners can get real-time access to lead data, engagement, and other stats across the Debbie network.
(Coming soon) partners will be able to access live spending insights across all accounts - please ask us for more info
For the second year in a row, we have published our Financial Services Marketing and Acquisition Report, and had over 100 execs register for the launch event alone! Click here or below to access.
Our partnership with Union Credit allows a much larger network of credit unions to now have access to promote their loan offers to our users. If you’re already on the Union Credit network, please let us know!
I love that we now get to make the 5th bullet halfway down the page. We’re going full steam ahead, growing by 40-60k users monthly
St. Mary’s Bank, Visions CU, and Kikoff are just of a few of the new partners going live
After several years of a tight loan market, we think it’s about time to bring back lending into the mix. Stay tuned for new designs on Debbie’s old “Rate Crusher” Marketplace, where users were able to find great loan offers
For users who need more time to decide if they are interested in joining on of our partner financial institutions, this experience is a way to keep them in our ecosystem. Debbie users will soon have a way to BYOB (bring your own bank), albeit with much more limited functionality.
As always, here are some conferences we’re attending coming up. Let me know if you’ll be there so I can say hello!
Financial Health Network’s EMERGE Conference
This will be our first time attending, but we’re excited to see some old and new faces
ACU’s Strategic Growth Conference
For credit unions looking to find new ways to grow, we think this is a great one to join
nach·es. noun: nachas Nachas is a Yiddish word meaning that you are happy and proud, especially of someone’s accomplishments.
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