Minnesota Credit Union Network Joins NetGiver
Wednesday, March 25, 2020
The Minnesota Credit Union Network (MnCUN) is strengthening their commitment to the credit union philosophy of “People Helping People” by joining the ownership of NetGiver; a CUSO which enables fee-free charitable contributions exclusively for credit union members through a mobile giving platform.
Recognizing that individuals are focusing more on the values of companies that they choose to work with and are looking for ways to support their communities in this time of uncertainty, credit unions are positioned well to solve a growing problem for the giving community.
With online donation platforms growing in popularity, nonprofit organizations that employ these platforms incur platform and/or processing fees that can significantly reduce the amount the nonprofit receives each year – a total which can exceed 7% of the $149 billion dollars given each year by individuals via credit or debit card.
“Credit Unions exist to serve their members and seek to exemplify the philosophy of ‘people helping people’,” said John Ferstl, Chief Operations Officer of the MnCUN Network Service Corporation. “Through NetGiver, credit unions have the opportunity to give back to the community with a real impact,” said Ferstl.
NetGiver serves three primary functions:
- Facilitates fee-free and direct giving to nonprofits, increasing the possible impact of every donation
- Supports and engages the credit union member through a unique and branded touchpoint
- Provides credit unions an exclusive tool to support community advocacy, and creates opportunities for member acquisition and retention
“The support of the Minnesota Credit Union Network and our participating credit union partners allows us to make a significant impact in the nonprofit giving space. We’re excited to have MnCUN behind NetGiver,” said Eric Berg, co-founder of NetGiver.