Raisin Expands Deposit Funding Solutions to Credit Union Industry with SkyOne Federal Credit Union Partnership

SkyOne Federal Credit Union is the first credit union to leverage Raisin’s innovative digital deposit platform in the U.S.

New York – June 14, 2022 – Raisin and SkyOne Federal Credit Union are pleased to announce the launch of a new partnership that will enable SkyOne to offer its savings products and showcase its admired brand to a nationwide audience of savers, making the California-based institution the first-mover within the U.S. credit union ecosystem to leverage Raisin’s unique deposit-funding fintech solutions.

By entering into this partnership, SkyOne joins the rapidly expanding digital platform Raisin has built in the U.S., which to date has welcomed eight U.S. bank partners. SkyOne is the first credit union to offer its savings products through Raisin’s U.S. platform, which includes Raisin’s proprietary direct-to-consumer online savings marketplace, SaveBetter (SaveBetter.com). Now that Raisin’s curated network encompasses banks and credit unions, savers nationwide benefit from even greater access to the competitive savings products offered by these financial institutions.

The debut product offering from SkyOne features 12- and 18-month Share Certificates at 2.00% APY and 2.30% APY, respectively, and a Money Market Account at 1.25% APY. These products will be accessible through SaveBetter.

SaveBetter’s fast, simple online enrollment process helps to lower the barriers to entry for savers to obtain credit union savings products by streamlining the memberization process.

“SkyOne Federal Credit Union is pleased that through this partnership we can better reach our growth goals as an institution while helping more people across the country achieve their own financial empowerment,” said Joseph Whitaker, President and CEO, SkyOne Federal Credit Union. “As a member-focused financial services provider for more than 70 years, SkyOne is no stranger to innovation. And with this partnership, we are taking another big step forward in how we deliver our products and services and enhance the member experience.”

 

“We’re so pleased to have SkyOne as the first credit union partner to join our platform,” said Marcel Bock, CEO of Raisin US. “We are pleased to work with such a mission-driven organization and believe that our solution will help
give them a powerful competitive edge in a tightening market for retail deposits.”

 

 

About Raisin
Raisin’s mission is to make money perform better. We help people take control of their financial futures by bringing them the best financial products, all in one place. Raisin also empowers banks and other financial institutions to grow. We develop solutions that help create a better connected and more resilient financial industry – one that forms a stronger backbone for the real economy.

 

About SkyOne Federal Credit Union
Founded in 1949, SkyOne Federal Credit Union is a member-owned, not-for-profit financial institution with over 50,000 members nationwide and $700 million in assets, headquartered in Hawthorne, California. The credit union offers a full suite of financial products including checking and savings accounts, consumer loans, real estate loans, business loans and investment services. SkyOne is enthusiastic about helping its members build a strong financial foundation by providing the tools to reach financial success. Deposits are federally insured for at least $250,000 by the National Credit Union Administration (NCUA).

Media Inquiries:
For SkyOne Federal Credit Union
Melissa Choi, Acting VP of Member Experience
Email: mchoi@skyone.org

Michelle Markham, Marketing Manager
Email: mmarkham@skyone.org