NEW YORK--(BUSINESS WIRE)--Marstone, Inc., a leading digital wealth technology firm, today announced it has partnered with Red River Credit Union (RRCU), a premier financial institution with more than $1.3 billion in assets, to provide its business-ready, digital wealth management platform and Wealth Management-as-a-Service offering to RRCU’s 115,000 members. RRCU is based in Texarkana, TX, with thirty branches across Texas, Arkansas, Louisiana, and Mississippi.
“At Marstone, we pride ourselves on the flexibility with which our products can meet our financial partners’ needs. In the case of RRCU, they’re able to rapidly launch our Wealth Management-as-a-Service offering, which delivers cost efficiencies and new revenue opportunities that the credit union seeks for continued growth,” said Margaret J. Hartigan, co-founder and CEO of Marstone. “We’re able to quickly get RRCU transitioned to our platform and see the onboarding and opening of new accounts. We look forward to more credit unions entrusting our proven platform as they seek to grow fee-based revenue, non-interest income, and retain member deposits.”
Founded 80 years ago, RRCU offers loans, deposit accounts as well as financial services to clients of all ages and stages of life. RRCU is a not-for-profit financial cooperative, where members are owners in the credit union. Anyone who resides, attends school, works or worships in RRCU’s rural charter service area and segment-based areas is eligible to be a member.
“Expanding our services to now include Marstone’s digital wealth management capabilities is a significant benefit to our members,” said Robert Ables, Director of RRCU Financial Services. “Marstone easily and seamlessly fulfills the growing needs of our members for investment options and helps efficiently fill this gap in our available services.”
Marstone is a leading digital wealth management platform with a mission to enhance financial literacy, deepen financial inclusion, and humanize finance for all. Its enterprise-ready solution, Powered by MarstoneTM, enables financial institutions to efficiently and affordably reach, acquire, and retain clients who seek straightforward information and engagement around their finances.
As a proven and trusted technology partner, Marstone has comprehensive integrations with custodians including Pershing, core banking platforms including Fiserv, account aggregation platforms, and investment managers. These integrations, in addition to Marstone’s partnerships with globally recognized foundations including the World Economic Forum Centre for the Fourth Industrial Revolution and leadership participation in the Milken Institute's FinTech Advisory Committee, provide organizations the opportunity to deploy a technology that will help future-proof their businesses as consumer expectations for digital wealth management evolve.
About Red River Credit Union
RRCU Financial Services is committed to helping families and individuals achieve security and peace of mind through customizable insurance options and financial planning in all stages of life. As a wholly owned subsidiary of Red River Employees Federal Credit Union, RRCU Financial Services provides financial solutions to credit union members and non-members, including multiple life insurance options, financial investment services, and Medicare Plans. Headquartered in Texarkana, Texas, representatives are licensed in Texas, Arkansas, Louisiana, and Mississippi. RRCU Financial Services is regulated by the National Credit Union Administration (NCUA).