SunWest Credit Union Launches BNPL, First in Colorado

Members can now split their eligible debit card purchases to pay over time

PUEBLO, Colo., April 2, 2024 /PRNewswire/ -- 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.

About SunWest Credit Union
SunWest Credit Union is the oldest credit union in southern Colorado, founded as Pueblo Teachers' Credit Union in June 1935. From their modest beginnings at the home of a determined school teacher, the credit union now has three branches and serves over 11,000 members. It is SunWest's mission to create a place where members feel they belong and can have all of their financial needs met.

About equipifi 
equipifi is the leading Buy Now, Pay Later (BNPL) platform for debit card issuers in the United States. This is a white label solution designed to align with consumer purchase habits, payment preferences, and financial goals. The equipifi platform seamlessly integrates with leading banking cores and digital banking platforms to deepen customer engagement, grow market share, increase revenue, and provide a single place to view, accept, and manage BNPL plans on their existing banking app. For more information, please visit http://www.equipifi.com/. 

SOURCE equipifi; SunWest Credit Union

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