Amplify Credit Union, a $1.4 billion financial institution based in Austin, Texas, has announced a new community banking program that aims to provide personalized and accessible financial services to its members. The program is part of the credit union’s vision to reimagine the banking business model and promote financial inclusion.
Partnering with Workforce Solutions Capital Area
The credit union has partnered with Workforce Solutions Capital Area, a local organization that helps job seekers and employers in the Austin area. The partnership will allow Amplify to pilot the new service, which will send personal bankers and lenders to community organizations and workplaces to offer fee-free banking, financial education, first-time homebuyer education, and more.
The program will operate through Amplify Collab, a website that connects community organizations and employers to the credit union’s services. The website also features a calendar of events, a blog, and a podcast.
“Through our community banking program, we’re flipping the script by sending our bankers into community organizations and workplaces to build relationships and offer individualized support,” said Stacy Armijo, chief experience officer at Amplify.
Removing Barriers to Financial Assistance and Education
The credit union said the new program is designed to remove barriers to receiving financial assistance and education, especially for those who are experiencing financial vulnerability or transition. The program will also prioritize financial inclusion by offering service flexibility to all members, regardless of their account balances.
“One of the biggest limitations of traditional banking is that banks make customers come to them for personalized service,” said Armijo. “Historically, service flexibility has only been offered to those with the highest balances. At Amplify, we believe our members deserve equal and equitable access to financial services at every stage of life – from their very first paycheck to life in retirement.”
Tamara Atkinson, CEO of Workforce Solutions Capital Area, said the partnership with Amplify will benefit their clients who are looking for jobs or changing careers. “Implementing this service from Amplify Credit Union adds to what we can provide to our clients, not just security in a new job but with their finances as well,” she said.
Changing the Way Banking is Done
The community banking program is part of Amplify’s 10-year vision to change the way banking is done. The credit union said it wants to create a banking experience that is more human, more collaborative, and more empowering for its members and the community.
As part of its vision, Amplify dropped its fees in 2022 as a precursor to the pilot program. The credit union also launched a new brand identity and website in 2023, featuring a new logo, colors, and tagline: “Banking on You.”
Amplify Credit Union was founded in 1967 as IBM Texas Employees Federal Credit Union. It changed its name to Amplify in 2008 and now serves more than 60,000 members in Central Texas.
