BOISE, Idaho — Goodbuy, a fintech that provides a small business marketplace platform for credit unions, has registered as a credit union service organization and raised $1 million in investments from two credit unions and two CUSOs.
Goodbuy said the new CUSO designation formalizes its alignment with the credit union industry while allowing credit unions to invest in and partner with the company through a familiar ownership structure.
The investment round includes funding from One Washington Financial, Reseda Group, Maps Credit Union and Together Credit Union, according to the company.
Goodbuy said its Community Commerce platform is designed to help credit unions expand relationships with small businesses by connecting consumer members with business account holders through a white-label online marketplace.
‘Foundational Milestone’
“Becoming a CUSO is a foundational milestone for us,” Cara Oppenheimer, the company’s CEO and co-founder, said in the statement. “It means we’re not just a vendor to credit unions; we’re part of the ecosystem. This investment from four credit union partners signals that credit unions are ready to build this together, not just buy it.”
According to Goodbuy, the platform enables participating small businesses to reach local credit union members while offering consumers discounts of up to 20% at participating merchants. The company said the model is intended to help credit unions increase small business deposits, generate non-interest income, expand business relationships and encourage greater debit and credit card usage.
“Small businesses are the backbone of credit union communities, but most credit unions have had no real way to show up for them beyond holding the account,” co-founder Cary Telander Fortin said in the statement. “With Goodbuy, credit unions can acquire new business relationships, grow SMB deposits and turn their member base into a real growth channel for local businesses.”
CUSO Structure
According to Goodbuy, CUSOs are required to derive at least 50% of their business from credit unions, a requirement the company said aligns its long-term growth with the credit union movement.
Ben Maxim, chief operating officer of Reseda Group, said the investment reflects growing interest in helping credit unions expand their commercial banking capabilities.
“Credit unions have long seen the small business opportunity, but scalable growth solutions have been missing,” Maxim said in the statement. “Goodbuy gives credit unions a practical way to drive growth for their business members.”
Goodbuy also announced that Scott Daukas, principal at One Washington Financial, has joined its board of directors.
Recent Milestones
The company said the investment and CUSO registration follow several recent milestones, including:
- Winning the 2024 NACUSO “Next Big Idea” competition.
- Acceptance into Velera’s Fintech Engagement Program.
- A proof-of-concept deployment with Washington State Employees Credit Union.
Founded in 2021, Goodbuy said its platform is designed to help credit unions strengthen relationships with local businesses while providing members with discounts at participating merchants and creating new opportunities for business deposit growth.
