OnPoint Credit Union Teams with FusionIQ to Expand Digital Investment Strategies
OnPoint Community Credit Union, the largest credit union in Oregon with over $9.4 billion in assets, is entering the digital wealth management space through a collaboration with FusionIQ, a wealthtech company that specializes in digital investment platforms.
The partnership is anticipated to offer OnPoint’s 581,000 customers access to FusionIQ’s FIQ Journey, a platform tailored for hybrid digital guidance and self-directed investing.
“At OnPoint, we are dedicated to building strong communities through financial growth and well-being,” said Jim Hunt, SVP and CFO at OnPoint. “The FIQ Journey platform aligns with OnPoint’s guiding principle of pursuing innovation to offer simple and effective solutions that support each member’s financial journey.”
Credit unions have historically established themselves as community-oriented alternatives to conventional banks. This recent development indicates an industry adapting to align with fintech trends. While major banks like JPMorgan Chase and Wells Fargo significantly invest in their proprietary wealth platforms, credit unions are forming alliances to maintain relevance.
The platform also enables OnPoint to leverage Arete Wealth as a broker-dealer for self-directed accounts, while FusionIQ provides registered investment advisory services.
