Sparta, Mich.-based ChoiceOne Bank has helped customers save more than $500,000 with Plinqit, the only savings app of its kind that pays users for learning about personal finances.
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@ChoiceOneBank has helped customers save more than $500,000 with @Plinqit, the only #savingsapp of its kind that pays users for learning about #personalfinances
Plinqit, developed by HT Mobile Apps, improves users’ financial literacy through its patent-pending Build Skills™. Users can take a quiz and be rewarded towards their savings goal. The app enables customers to securely link their Plinqit account to their checking account, set a savings goal and automatically set aside a small amount of money at a rate and schedule that they choose. This out-of-sight-out-of-mind savings helps users continue to save without temptation to withdraw before reaching their goal and the bank is seeing real results.
Since launching Plinqit, ChoiceOne Bank has grown total Plinqit users month-over-month, resulting in an average savings goal of $1,154 per account. After the bank offered a new feature allowing users to save towards multiple goals, it has seen users create emergency funds as well as vacation funds. In fact, many of ChoiceOne’s customers have already reached their initial goal, with the majority (nearly 80 percent) creating new goals to continue saving.
“Recent events have shown people the importance of savings for emergencies, and solidifies the value of Plinqit to our customers,” said Adom Greenland, Chief Operations Officer of ChoiceOne Bank. “We have had a significant amount of positive feedback. People are making a point to thank us for offering Plinqit and helping them save, which has truly been the most gratifying part of our partnership with HT Mobile Apps. While the numbers have been good, the impact on our community has been better.”
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