SunWest Credit Union (SunWest), a $206 million asset credit union headquartered in Pueblo, Colorado, announced that it has added Buy Now, Pay Later (BNPL) to its suite of online banking products.
SunWest has selected equipifi to power its BNPL solution, and is the first credit union to make BNPL available to members in Colorado. With this launch, SunWest will extend personalized offers to members to split payments on eligible debit card transactions. Members will be able to view and accept pre-qualified BNPL offers in SunWest’s digital banking experience.
“Our members deserve their preferred payment option in the safest, most affordable, and convenient way,” said Leslie Shephard, President and CEO at SunWest Credit Union. “With the launch of BNPL powered by equipifi, we can now offer best in class flexible financing all within our own digital banking experience.”
“Buy Now, Pay Later is a powerful engagement tool that helps credit unions meet member needs while generating new income,” said Bryce Deeney, CEO and co-founder of equipifi. “By launching BNPL, credit unions like SunWest are committing to serve current and future members at every important financial moment.”
SunWest Credit Union joins several credit unions who were the first to launch a BNPL solution in their home state, including New York, California, Texas, and Michigan. BNPL is projected to grow at a compounded annual rate of 25.5 percent between 2022-2026.
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