VENICE, Calif.–ScribeUp Technologies, a provider of a subscription management platform for financial institutions, has launched a new CUSO called ScribeUp, that it said is “dedicated to helping credit unions deepen member relationships through embedded subscription and bill management tools.
Service Credit Union in New Hampshire is the first investor in the CUSO.
“Unlike traditional CUSOs backed by individual institutions, ScribeUp’s decision to form a standalone entity signals a strategic commitment to credit unions as a core market,” the company said in a statement. “The new structure reflects a long-term investment in supporting the financial wellness of members and helping credit unions remain the go-to hub for everyday money management.”
What Platform Does
According to ScribeUp, its platform is designed to help credit unions:
- Embed subscription and bill management into digital banking, including one-click cancellation of unwanted subscriptions
- Migrate payments to partner-issued cards instantly
- Detect recurring bills across external accounts
- Regain visibility into third-party payments and lending relationships
- Drive deposit growth and card engagement
One CU’s Experience
ScribeUp said Service CU has found:
- Members added an average of $72/month in new recurring spend to their Service CU accounts that was previously going to external accounts
- 60% of members found (and took action on) a bill they didn’t realize they were paying for, averaging $20/mo in unwanted bills per member
- In 40% of users, ScribeUp identified active loans with third parties for products already offered by Service CU, creating clear opportunities for refinancing and member retention
‘Value for Members’
“At Service Credit Union, we’re always looking for ways to bring more value to our members and simplify their financial lives,” Brian Regan, director of fintech innovation, said in a statement. “ScribeUp’s technology not only aligns with that mission, but delivers immediate, tangible outcomes. That’s why we’re proud to support their CUSO initiative as both a partner and an investor.”Added ScribeUp CEO and Co-Founder Jordan Mackler in a statement, “As more consumer spending shifts to recurring payments, credit unions have an opportunity to win back daily engagement. Forming a CUSO shows we’re not just building for credit unions, we’re building with them.”
