Happy Money Partners with Method Financial to Help Credit Union Members Manage Credit Card Debt
Happy Money, an unsecured loan provider that works with credit unions, has forged a strategic partnership with Method Financial. The company will leverage Method’s technology – a suite of liability connectivity APIs – to help Happy Money members consolidate and pay off high-interest credit card debt.
“Happy Money is helping consumers across the country access the capital they need to reach their goals in partnership with credit unions and other community-focused lenders,” Method CEO and Co-Founder Jose Bethancourt said. “With the integration of our technology, they are ensuring the process is as seamless, quick, and efficient as possible, creating value for all involved.”
Happy Money offers consumers personal loans with a low interest rate and a single, fixed payment to help them pay off high-interest credit card debt. Integrated into the Happy Money platform, Method’s liability connectivity APIs will facilitate more accurate identification of members’ outstanding credit cards, as well as real-time live balance retrievals and balance transfers. All this takes place without members having to enter account numbers or passwords.
Since the partnership began, Happy Money reports that its members have connected more than 50,000 accounts via Method’s APIs. Moreover, millions of dollars in consumer debt have been consolidated monthly through Method’s connectivity and payment rails. Together, Happy Money and Method have facilitated more than $7 million in balance transfers for Happy Money members.
“At Happy Money, we believe that prioritizing borrowers’ well-being is a winning strategy,” Happy Money Head of Product and Design Nick Pesce said. “Our platform allows consumers to meet their financial goals and enables credit unions to diversify their portfolios and grow.”
Founded in 2009, Happy Money is headquartered in Torrance, California. Since inception, the company has served more than 300,000 members and funded more than $6 billion in loans through partnerships with community-focused lenders. Happy Money has raised more than $337 million in capital, according to Crunchbase. Anthemis and TruStage Ventures are among the firm’s investors.
Method made its Finovate debut earlier this year at FinovateSpring, where the company demoed its connectivity, data, and payments APIs. Method’s technology enables lenders, fintechs, and financial institutions to leverage comprehensive, real-time credit data, evergreen connections, and integrated payment rails to offer customers personalized lending and financial management experiences.
Via a single integration, Method enables access to liabilities held at more than 15,000 financial institutions in the U.S., representing 95% of all outstanding consumer debt. The company has helped 200,000+ users connect more than $22 billion in consumer debt to their preferred financial institution.
Headquartered in Austin, Texas, Method was founded in 2021. The company’s investors include Andreessen Horowitz, Truist Ventures, and Leonis Capital.
Photo by Jeswin Thomas
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Conclusion
Happy Money’s partnership with Method Financial represents a significant step towards helping credit union members manage their credit card debt more effectively. By leveraging Method’s innovative technology, Happy Money is able to streamline the process of consolidating debt, making it a seamless and efficient experience for consumers. The success of this partnership is evident in the millions of dollars of consumer debt that have been consolidated through Method’s APIs, benefiting both Happy Money members and credit unions.
With a shared focus on financial well-being and customer satisfaction, Happy Money and Method Financial are paving the way for a more personalized and efficient lending experience. As they continue to grow and expand their offerings, consumers can expect even greater opportunities to achieve their financial goals and manage their debt responsibly.
Overall, the collaboration between Happy Money and Method Financial is a testament to the power of technology in revolutionizing the lending industry and improving the financial health of consumers. By combining forces, these two companies are setting a new standard for how credit card debt can be managed and ultimately eliminated, providing a brighter financial future for all involved.
