By Lisa Hochgraf
Who would I trust more with my personal financial information? My credit union or an online start-up company? Hands down, it would be my credit union.
That's why I was really excited to learn this week that at least one credit union, AMPLIFY Federal Credit Union in Austin, Texas, is offering a comprehensive financial planning and tracking tool to its members who use online banking.
I had first heard of such a Web-based "Quicken-like" offering when I read about Wesabe.com on the OpenSource CU blog, and reported on it for CUES Tech Port. But as the OpenSource CU post aptly pointed out, Wesabe is a brand new company, and to use its online financial planning and tracking system, I'd have to provide all my personal information to someone I barely know. I'm not ready for that yet!
But if my credit union were to offer such a service, I might just log in to home banking (I'm a big fan of bill-pay!) and see what help I could get. I already trust my CU, and this would only deepen the relationship I have with it.
Amplify VP/Operations Karen Pollack provides a succinct summary of the value of doing this kind of thing: "This is a good example of going beyond the basic banking transactions and really making something useful for members."
The Amplify solution is covered in more detail in this week's CUES Tech Port e-newsletter.
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