Boost Membership Engagement!

​DakCU taps Sparrow to propel membership growth and deepen connections with Gen Z & Millennials through superior college financing solutions. 

Dakota Credit Union Association (DakCU) is proud to announce our newest strategic partnership with Sparrow, a leader in fintech solutions. The latest in our member solution initiatives offers a new path for younger membership growth, with a keen focus on catering to the unique preferences and needs of Gen Z and Millennial members.

"Our new partnership with Sparrow represents more than just collaboration; it signifies our shared dedication to transforming the way credit unions engage with the younger generation," stated DakCU President/CEO Jeff Olson. "In today's digital-first world, embracing innovation is not merely beneficial—it's essential. Sparrow's cutting-edge technology positions us to effectively respond to the evolving needs of Gen Z and Millennials, ensuring that credit unions emerge as their preferred financial institutions."

Historically, despite the exponential growth in private student loan demand, a vast majority of credit unions have stood on the sidelines. This collaboration paves the way for credit unions to leap into action, leveraging Sparrow's state-of-the-art platform to offer student loan services without the complexities of traditional lending processes.

Within the Dakotas, Sparrow aims to present a fresh angle to growing membership books. Utilizing their innovative platform, Dakota credit unions can attract the next generation of members by delivering a seamless digital experience during a critical time of financial need: financing education.

With Sparrow, credit unions not only generate non-interest income, but also employ marketing analytics and automations to deliver personalized financial advice and resources. This empowers younger members to make sound financial decisions and encourages them to continue to choose the credit union for every financial need.

"We’re thrilled to help Dakota-based credit unions answer the call of the next generation,” says Harrison Hochman, CEO of Sparrow. “Creating a brighter financial future for Gen Z means meeting them where they’re at, and not waiting for them to come to you. Our innovative technology empowers Dakota credit unions to offer a unique and valuable service to its younger members, ultimately fostering financial inclusion, and loyal, long-term relationships."

“Our association first became excited about Sparrow after seeing their versatility in working with credit unions of all shapes and sizes,” says George McDonald, DakCU’s Chief Officer of Strategic Services. “Sparrow serves credit unions from $27 million to as large as $34 billion in assets, with a talented team that spans geographic and size barriers.”  

According to McDonald, credit unions that transitioned to Sparrow's marketplace approach have reported:

• 70% of users are younger, formerly non-members, who state interest in becoming members after harnessing the service.
• Access to 260+ unique data attributes per Gen Z user, and pre-set automations to create ongoing multi-product relationships with them.
• The ability to be the active relationship builder with a younger member, as opposed to handing them, and their data, to affiliate partners at this formative time in their lives.

 
“Sparrow will help Dakota-based credit unions do what credit unions do best: focus on the needs of their members with innovative solutions that ultimately promote financial well-being for generations to come,” concluded McDonald.
 
Harrison Hockman, CEO and co-founder of Sparrow will be a featured presenter at DakCU’s Annual Summit. Check out Cracking the Code: How Credit Unions Can Win Over Gen Z during the pre-conference sessions on May 14 or during the repeat session on May 16.
 
Sparrow empowers credit unions to provide unparalleled student loan services to grow Gen Z membership. Its innovative platform shortens the lengthy search for the most competitive private student loan rates from weeks to seconds. Sparrow’s vision extends beyond transactions, aiming to assist credit unions in cultivating deep, personalized relationships with their younger members. Through its white-labeled platform, Sparrow enables credit unions to be the active relationship builder in their members' financial journeys, all without the complexities of managing a student loan portfolio. Partnering with over 40 credit unions, as well as 30 other universities, fintechs, and community financial institutions, Sparrow is dedicated to helping its partners win the loyalty of the next generation of members. Contact George McDonald to learn more or visit www.sparrowfi.com.