CINCINNATI–TruPartner Credit Union has introduced a buy now, pay later (BNPL) solution for its 14,000 members.

The $160-million credit union, which has partnered with equipifi, a provider of BNPL platform, said it will now extend personalized, pre-qualified BNPL offers to members in its digital banking experience. 

“TruPartner’s BNPL program serves its members through their shopping journey,” equipifi said in a statement. “It includes both a pre-purchase feature that gives members access to extra funds prior to shopping, and a post-purchase feature that converts eligible debit card transactions into installment loans.”

‘Great Way to Serve’
Added TruPartner CEO Nina Myers in a statement, “This is a great way to serve our members across all the demographics we serve. We don’t want members to sacrifice convenience to have their accounts with us.  Credit unions are often seen as less tech-forward and we hope to change that perception with solutions like this.” 

More Than 50 Participating

Equipifi said that more than 50 credit unions have now launched their own BNPL product to members. The company cited dating indicating 79% of members continue to use BNPL in year two, with overall usage increasing by 38%. 

In the U.S., BNPL is projected to grow at a compounded annual rate of 25.5% between 2022-26, according to data it cited from Research & Markets.

TruPartner, BNPL, equipifi,