DURHAM, N.C., June 2, 2021 /PRNewswire-PRWeb/ -- Zogo Finance ("Zogo"), the financial technology company committed to empowering the next generation of financial decision makers, today announced it has entered into an agreement with Illinois-based Rockford Bell Credit Union ("Rockford Bell"), marking the firm's 100th such partnership. In addition to credit unions, Zogo's financial institution partners include banks at the national, community and regional levels.
Zogo, which offers bite-size learning modules designed to make financial literacy education fun, simple and social, has achieved strong momentum since its founding in 2019. Now a trusted partner to financial institutions in all 50 states, Zogo helps young adults get to grips with vital financial concepts while simultaneously enabling banks and credit unions to meet the needs of their fastest-growing customer segment.
Rockford Bell Credit Union, established in 1935, is a member-owned financial cooperative that provides banking services such as savings, checking, and loans to its more than 4,000 members. Through this partnership with Zogo, Rockford Bell will embed into its mobile banking app more than 300 co-branded financial literacy modules that cover key concepts such as filing taxes, saving for retirement, creating a budget, and more. This engaging content, vetted by financial professionals, was created by Zogo's Gen Z and millennial team members to reflect the distinct learning preferences of their peers. Rockford Bell members and their families will receive access to the Zogo platform at no additional cost; in fact, they will be rewarded for improving their financial knowledge. Upon completion of each module, designed to take about two minutes each, users accrue points that can ultimately be exchanged for gift cards from major retailers such as Amazon or Walmart.
This partnership with Zogo builds on Rockford Bell's existing financial literacy initiatives, as part of which it has already established a student-run credit union branch, complemented by financial education classes, within a local high school. Rockford Bell's president and CEO, John Hansen, remarked: "This partnership with Zogo reflects our longstanding commitment to offering forward-looking solutions that meet our members' financial needs. We're excited to introduce a unique twist to financial literacy education that rewards members for learning and helps them to make savvy, informed decisions about their money."
It is increasingly clear that young adults stand to benefit from enhanced financial knowledge and are receptive to new modes of delivery. In a 2018 survey conducted by the FINRA Investor Education Foundation, just 17 percent of respondents aged 18 to 34 were able to answer at least four out of five questions about key concepts relating to personal finance. At the same time, where existing financial literacy initiatives do exist, they often fail to account for the learning styles of younger generations.
Bolun Li, founder and CEO of Zogo, said: "By implementing modern and accessible financial education programs, there is an unprecedented opportunity for financial institutions to demonstrate their value to younger generations in particular. We're thrilled to welcome Rockford Bell as our 100th partner, and are looking forward to helping its members more confidently navigate their financial lives."
Barb Lowman, president of CUNA Strategic Services, added: "Zogo offers innovative technology and easy-to-understand content, created by young adults for young adults, that can boost financial institutions' ability to forge stronger relationships with prospective and existing members. We are thrilled to be working hand-in-hand with Zogo to deliver on the promise of financial well-being for all. It's also fantastic to see another credit union double down on its commitment to prioritizing the member experience and driving positive change in their community."
Based in Durham, N.C., and created by young adults for young adults, financial technology company Zogo is on a mission to promote financial well-being. Backed by scientific research, its award-winning app offers bite-size modules and tangible incentives to make financial literacy education accessible, fun, and rewarding. The company partners with financial institutions in all 50 U.S. states to help them educate, engage and empower the next generation of financial decision makers. Key Zogo investors and advisors include seed accelerator Techstars, a former Sageworks CEO, and various Duke University faculty. To learn more, visit zogofinance.com or follow us on Instagram @zogofinance.
Emma Smith, Three Lions Public Relations for Zogo Finance, +1 9172003303, [email protected]
SOURCE Zogo Finance