August 4, 2020 Happy Money, a leading fintech company building tools and services for human happiness, announced the launch of its partnership with GreenState Credit Union. Happy Money’s Payoff Loan™ product, originated in partnership with credit unions, is an installment loan designed to help people eliminate debt and start saving. This partnership brings together digitally native financial services with a member-first focus at a time when economic uncertainty is increasing consumer appetite for eliminating debt.
“At GreenState, we aspire to make a difference in the lives of our members,” says GreenState CEO Jeffrey Disterhoft. “We also value innovation and having a growth mindset. Happy Money brings innovative technology solutions and strong digital marketing capabilities to the table, but also shares our member-first ethos. This strategic partnership enables us to serve consumers by helping them eliminate high-cost debt, while also learning from each other and growing together.”
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GreenState joins Happy Money at a time of significant growth for the company, says Happy Money CEO, Scott Saunders: “We are seeing a shift in consumer mindset towards deleveraging, which has created a strong demand for the Payoff Loan™. Times of economic uncertainty can serve as a reminder of the pitfalls of the ‘buy now, pay later’ mindset. At Happy Money, we are built to help consumers eliminate debt and build a more mindful relationship with their finances, and partners like GreenState have helped us create an ecosystem in which this is possible.”
Amid the current economic environment, Happy Money continues to see strong month-over-month loan growth, shattering its own monthly origination records. By the end of this quarter, the company expects to reach an aggregate of $2 billion in loans originated through its partners to help consumers pay off high interest credit card debt. Happy Money’s technology and credit solutions, including its proprietary cash flow-based underwriting models, allow Happy Money to accelerate its growth while maintaining risk and resiliency targets for its financial partners during this time.
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