ST. PETERSBURG, Fla.–Velera said it is entering into a  partnership with Early Warning Services, LLC, which is the parent company to Zelle, with an offering specifically designed for Minority Depository Institution (MDI) credit unions.  

According to Velera, the initiative will provide MDIs with expanded opportunity to join the Zelle network, “empowering them with access to the same real-time payment solutions offered by larger institutions while upholding their mission of serving their communities.”

“If credit unions are not offering Zelle, their members are likely to look elsewhere for the convenience of a P2P payments offering,” Amy Evans, SVP-strategic solutions at Velera, said in a statement.  “It is clear consumers appreciate the convenience, ease and reliability of Zelle – three key drivers of consumer payment preferences. With interest in P2P payments only continuing to increase , it is more important than ever for credit unions to offer these types of payments solutions to their members. 

“This partnership between Velera and Early Warning Services is just one way in which Velera is enabling credit unions to provide their members with the tools and services they want and expect from their trusted financial partners,” Evans added.

Increasingly Available

In making the announcement, which came during the its Velera Live event in Denver, the company said many community banks and credits unions are increasingly making Zelle available to their members. Velera noted that 95% of financial institutions in the U.S. that offer Zelle are community banks and credit unions. 

Velera said its partnership with Early Warning represents a meaningful opportunity to bring a reliable, trusted and convenient service to more Americans.

Rural Towns & Urban Neighborhoods

“We are proud to work with Velera on this critical partnership. Zelle is not just a tool for the big banks. It’s powering real-time payments for community banks and credit unions nationwide — from rural towns to urban neighborhoods,” Denise Leonhard, general manager of Zelle, said in a statement. “Trusted by institutions of all sizes, Zelle is helping local community banks and credit unions meet rising consumer expectations, compete with larger players, and bring modern financial tools to Main Street.”

What’s Provided

Velera said it provides its credit unions with easy access to Zelle implementation and integration, including a seamless, branded member experience via the credit union’s mobile app, data-driven technology for real-time identification of bad actors, and detailed reporting on enrollment, transactions and engagement.

For info: velera.com/zelle-for-credit-unions.