AUSTIN, Texas–Several more credit unions have introduced buy now, pay later (BNPL) programs.
In Texas, Velocity Credit Union (Velocity) said it has introduced BNPL to “further its commitment to offering comprehensive financial services to its members for every stage of their life.”
Velocity’s said its BNPL program allows members to split eligible debit card purchases into “predictable installment payments through its mobile and online banking platforms.”
Members may also choose to receive funds in their checking account prior to making a purchase, offering added flexibility when managing planned or unexpected expenses.
‘Put Our Members First’
“Velocity Credit Union continues to put our members first with financial solutions that grow with them,” President and CEO Debbie Mitchell said in a statement. “Our new buy now, pay later program adds another layer of flexibility and control, giving members a responsible, digital-first way to plan purchases, handle the unexpected, and stay financially confident while still receiving the personal support they expect from Velocity.”
Velocity said its BNPL solution is fully integrated within its digital banking environment.
The program is powered by equipifi.
First-in-State Offering in North Dakota
Separately, in Braddock, N.D., North Star Community Credit Union said it has also launched a BNPL offering for its 22,000 members.
The $450-million North Star Community said it is the first credit union to introduce the program on debit cards in North Dakota.
‘Personal Financial Freedom’
“North Star Community Credit Union exists to deliver financial solutions that support our members in achieving personal financial freedom,” VP-Operations Yvonne Fossen said in a statement. “This BNPL program is an extension of that commitment—providing a digital-first, accessible, and responsible tool that empowers our members to manage their budgets, handle life’s unexpected costs, and move forward with confidence.”
The NSCCU program is also powered by equipifi.
