Salus provides credit unions with a digital financial technology platform offering microloans, earned wage access, rent reporting, and predictive analytics to attract and retain Gen Z and millennial members. The platform automates small-dollar lending and uses data-driven insights to help credit unions serve younger, often underbanked, consumers. Salus aims to turn financial emergencies into opportunities for member loyalty and growth.
Funding
Funding not disclosed
Founders
Product
Problem
Young consumers, particularly Gen Z and millennials, frequently face short-term financial emergencies and cash flow gaps but often lack access to affordable credit union products. Traditional credit union offerings and processes are not designed to meet these members' expectations for fast, digital, 24/7 access, leading them to turn to predatory lenders or fintech apps.
Solution
Salus provides a financial technology platform that enables credit unions to offer fully automated, digital microloans and earned wage access (EWA) to their members. The platform includes rent reporting to help members build credit and uses predictive analytics, such as the Sentinel Stress Score, to identify members facing financial strain. By integrating these tools, Salus helps credit unions attract younger members, increase deposit growth, and build long-term loyalty by providing accessible and dignified financial support.
Target Audience
Primary customers are credit unions of all sizes, from community-based institutions to larger organizations, seeking to attract and retain Gen Z and millennial members. The platform is designed for credit unions aiming to serve the underbanked and offer alternatives to predatory lending.
Features
- Fully automated digital microloans ranging from $50 to $2,000, providing 24/7 access to funds.
- Earned Wage Access (EWA) loans available to members as soon as two weeks after joining the credit union.
- Predictive analytics via the Sentinel Stress Score to proactively identify and support members in financial distress.
- Rent payment reporting to help members build credit history and improve their financial standing.
- A comprehensive platform that integrates microloans, EWA, rent reporting, and analytics to serve the underbanked.