San Francisco, CA – February 2023
Reseda Group, a credit union service organization (CUSO) wholly owned by Michigan State University Federal Credit Union (MSUFCU), announced today that it has invested in Flow Networks, a leading fintech providing active portfolio management capabilities for debit and credit card programs. The investment will accelerate Flow Networks’ growth and development of its platform, which enables market leading financial institutions to increase payment card portfolio profitability and customer engagement through lively and engaging in-app experiences. These payment-timed engagements connect with cardholders in the moment of sale and drive meaningful outcomes including loyalty, increased payment volume, diversified spend across payment categories, increased card activation, and lower operational costs.
Flow Networks CEO Chris Boncimino said, "We are thrilled to receive this investment from Reseda Group. Reseda Group and MSUFCU are exceptional partners. With this investment and the formation of Flow’s CUSO, Flow is demonstrating its commitment to credit unions. Credit unions play an important role in the financial services ecosystem. We will help credit unions reach younger members, retain and engage existing members, and drive portfolio profitability. We will help credit unions to ‘own the payment moment’."
CTO of Reseda Group, Ben Maxim said, "Flow Networks has a proven platform, market-driven expertise, and a track record of product success. We are excited to support their growth and development. At Reseda Group, we approach opportunities as both investor and practitioner — we partner with fintechs like Flow Networks to create a stronger member experience for our MSUFCU members and we invest in them to ensure their growth and ability to partner with more credit unions looking to innovate.
Flow has partnered with MSUFCU to provide their members with new and engaging mobile banking experiences. MSUFCU and Reseda Group CEO April Clobes said, “Member experience is at the core of everything we do and Flow enables us to connect with our members in new and exciting ways. We invest in the best and brightest fintechs to capture the value for MSUFCU and to share with other credit unions. We’ve received overwhelmingly positive member response to Flow engagements, and we’re thrilled for the continuation of our partnership with Flow.”
About Flow Networks
Flow Networks is a consumer engagement and retention company. The Flow platform connects issuers and merchants with cardholders during the payment moment for interactions, including rewards, offers, and loyalty experiences. Flow can deliver $20-40 per active account / year by increasing transaction volume, improving transaction profitability, cutting fraud, and adding cross-sales. To learn how to own the payment moment, visit FlowNetworks.io.
About Reseda Group
Reseda Group is a credit union service organization (CUSO) wholly owned by Michigan State University Federal Credit Union (MSUFCU). Reseda Group is committed to supporting the growth and success of MSUFCU and other financial institutions through strategic investments in innovative companies.
About MSUFCU
Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the fifth year, a Top Workplace by the Detroit Free Press for 11 consecutive years, a National Best and Brightest Companies to Work For® winner for six consecutive years, and was named one of the top five Michigan credit unions in Forbes' Best-in-State Credit Unions 2021 list. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years and has been certified as a Great Place to Work® for nine consecutive years. MSUFCU has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy Louise Herring Award. MSUFCU is headquartered in East Lansing, Mich., has 22 branches, nearly 325,000 members, more than $6.7 billion in assets, and nearly 1,000 employees. For more information, visit msufcu.org.
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