PenFed Credit Union has partnered with InvestiFi, a provider of digital investment solutions for financial institutions. This partnership brings embedded investing capabilities to nearly 2.8 million members directly through PenFed’s mobile and online banking platforms. By keeping investing on-platform, PenFed can reduce deposit outflows, increase engagement and continue to deepen the member relationship.
“Our members have come to expect world-class service and that includes the ability to bank and invest on the same platform,” Jamie Gayton, executive vice president of member operations and global fixed assets at PenFed, said. “By partnering with InvestiFi, we are able to deliver a seamless experience allowing members to invest out of the same checking accounts they use for their everyday spending needs. PenFed is committed to delivering innovative, member-focused solutions that make investing approachable and accessible, as part of our mission to help members achieve their financial dreams.”
Kian Sarreshteh, CEO of InvestiFi, said, “We see users on 3rd party investment platforms demonstrating the behavior to sacrifice yield on their cash deposits, for the convenience of investing from checking. This partnership will help members feel confident, inspired and empowered as they engage with their finances. Investing can be intimidating, but, together with PenFed, we’re creating experiences that make exploring financial opportunities approachable, seamless and meaningful.”
This collaboration sets a new benchmark for credit unions by providing experiences that align with changing member expectations. This joint effort not only delivers significant value to PenFed’s members but also drives InvestiFi’s vision of inclusive and accessible financial innovation forward.
