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Goalsetter Lands $1 Million Plus a New Partnership with MSU FCU’s Reseda Group – Finovate

Date:

  • Goalsetter has partnered with MSU Federal Credit Union’s (MSUFCU’s) Reseda Group this week.
  • As part of the partnership, Reseda Group has invested $1 million in Goalsetter, bringing its total funding to $20.5 million.
  • MSUFCU will white label Goalsetter’s youth banking platform for its members and will deploy the company’s classroom curriculum across local communities.

MSU Federal Credit Union’s (MSUFCU’s) Reseda Group is taking a step toward helping members and their families create better financial futures. The group announced today it has partnered with financial literacy platform Goalsetter.

The aim of the partnership is to help members and their families build better spending, saving, and investing habits. To accomplish this, Reseda Group will offer Goalsetter’s financial education tools and resources to members and their families.

There are three significant pieces to note from today’s deal. First, Reseda Group invested $1 million in Goalsetter, boosting the New York-based company’s total funding to $20.5 million. President and CEO of Reseda Group and MSUFCU April Clobes said that Reseda Group invested in Goalsetter because it is the “best solution for credit unions that want to attract and retain the next generation of members.” She added that integrating Goalsetter’s offerings can help credit unions “increase brand affinity with Gen Z members, deposits, and overall membership numbers.”

The second big piece for Goalsetter is that MSUFCU has agreed to white label Goalsetter’s youth banking platform for its members. Thirdly, MSUFCU will deploy the Goalsetter’s classroom curriculum in local school systems and community organizations across its branch locations.

“The award-winning, proven Goalsetter platform focuses on providing financial tools, education, and innovative financial wellness content built around pop culture, memes, GIFs, and game-based learning that resonates with young consumers. It will enable MSUFCU to effectively engage with younger consumers and provide them with the personalized services they seek,” said Goalsetter CEO Tanya Van Court. “We are proud to bring these solutions to the MSUFCU member community alongside Reseda Group, an organization that has been instrumental in the growth and ongoing success of the Goalsetter platform.”

Goalsetter was founded in 2016 and helps families offer their kids a NCUA-insured savings account where they can receive allowance, a Mastercard debit card with parental controls, game-based financial education quizzes, and more.

Goalsetter fits into the same category as Greenlight, which facilitates banking services through Community Federal Savings Bank, and GoHenry, which was acquired by Acorns earlier this year.


Photo by Skitterphoto

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