San Ramon, Calif. — Jan., 30, 2023 — Community Financial Credit Union, a non-profit financial institution headquartered in Plymouth, Mich., has launched a multi-year partnership with Lumin Digital, delivering an integrated online banking experience to its more than 80,000 members. With the launch of Community Financial, Lumin Digital now supports more than 50 live financial institutions across the United States and more than 4 million users under contract on Lumin’s cloud-native digital banking platform.
Lumin will provide the credit union with many member-requested features like business banking and heightened safety and security protocols, alongside a seamless digital integration of their existing third-party services and partners. Additionally, with the launch of Lumin’s cloud-native online and mobile banking platform, they have augmented their suite of services, including tailored spending analyses, financial guidance, savings objectives and fraud notifications. Leveraging Lumin’s technology, Community Financial will provide its members with instantaneous updates and streamlined features, simplifying day-to-day banking activities.
“We’re committed to making an impact in our members’ lives by offering services that make their banking experience easier and more personal. We’re thrilled to have a partner in Lumin that’s going to help us do that,” said Tansley Stearns, president and CEO of Community Financial Credit Union. “We’ve seen a rising number of members expressing interest in a digital-first banking experience, and with everything we’re able to offer them through Lumin, our hope is that they know they are being heard.”
According to a report by BMO Financial Group, half of Americans (50 percent) said they plan to use digital banking more in 2023, and nearly half of Millennials and Gen Z (45 percent) say digital banking is the only way they bank.
Referring to the report, Lisa Daniels, chief delivery officer at Lumin Digital, noted, “With the growing trend of Americans increasing their reliance on digital banking—engaging in behaviors such as depositing funds, transferring money to friends and family, and exploring new products and services—Lumin Digital is ready to provide Community Financial Credit Union with truly transformative technology. This will enhance the member experience in every transaction, enabling the credit union to strengthen connections with members through sought-after features.”
About Community Financial Credit Union
The relationship with members is everything because Community Financial Credit Union is always looking out, standing beside members in every season of life. Community Financial is a full-service financial institution headquartered in Plymouth, Michigan since 1951 with 15 branches in Southeast and Northern Michigan and $1.6 billion in assets. Membership is open to any person or any business in the state of Michigan. Community Financial is deeply rooted in the communities it serves, offering programs and partnerships like student-run credit unions, an obstacle-free path to homeownership, and more. To learn more about Community Financial and why on earth there’s a bear on the logo, visit cfcu.org.
About Lumin Digital
Lumin Digital is a fintech company specializing in digital banking solutions. Through a fundamentally different approach to technology, service, and people, the company provides financial institutions with a best-in-class, cloud-native platform that drives consumer adoption, engagement, and growth. For more information, visit lumindigital.com.