First Merchants Bank adds Spiral to enhance financial wellness, helping customers grow their savings and support local nonprofits through personalized digital experiences and everyday debit card purchases.
Spiral, an award-winning platform redefining personalized banking, announced a partnership with First Merchants Bank, one of the Midwest’s premier community banks serving Indiana, Michigan, and Ohio. The partnership will enable First Merchants Bank to strengthen its vision of enhancing the financial wellness of the diverse communities it serves by growing and retaining deposits at a low cost while delivering innovative, personalized digital experiences. With Spiral, customers can effortlessly save for their financial goals through everyday purchases and digital banking, while also supporting local nonprofits and community causes.
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“Spiral offers a simple, intuitive way for customers to grow savings, give back to their communities, and take another step forward in their financial wellness.”
With the average personal savings rate still below 5%, many Americans continue to struggle to save for long-term goals or emergencies. Spiral’s Savings Center will enable First Merchants customers to build savings automatically through personalized, gamified experiences, including Automatic Savings and progress tracking, that make saving rewarding and achievable. Customers can easily set and reach goals such as buying a home, starting a business, purchasing a car, or saving for travel, making it easier to grow savings through everyday banking.
Through this partnership, First Merchants Bank will also be able to transform everyday purchases into effortless savings and community impact. Customers will be empowered to automatically round up their everyday purchases and direct the spare change toward their savings goals or support their favorite charitable causes and nonprofits. Additionally, their new Giving Center will allow customers to donate directly from their banking accounts, create a personalized portfolio of causes, track their charitable impact, and receive donation reports for tax purposes.
“For more than 130 years, our purpose has been to help people build a stronger financial future,” said Carrie Valek, Consumer Bank President at First Merchants Bank. “Spiral offers a simple, intuitive way for customers to grow savings, give back to their communities, and take another step forward in their financial wellness.”
With Spiral, First Merchants Bank will drive digital donations to local nonprofits and attract nonprofit businesses through fundraising campaigns, donation matching, and community initiatives. This builds on the bank’s long-standing focus on financial wellness and the diverse communities it serves. Spiral brings this into everyday banking, helping customers grow savings automatically while supporting the causes they care about.
“First Merchants has built its identity around helping people prosper, and that’s exactly what Spiral is doing through digital banking,” said Shawn Melamed, CEO and Founder of Spiral. “We’re excited to help them improve their customers’ lives while growing deposits and building stronger communities.”
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