US start-up Frich Money enters pilot partnership with MSU Federal Credit Union

Frich Money, a US-based social finance app targeting younger members, has initiated a pilot partnership with Michigan State University Federal Credit Union (MSUFCU).
The partnership is facilitated through the Michigan State University Research Foundation’s Conquer Finance and Insurance Accelerator, with support from MSUFCU.
Frich Money, launched in 2021, offers a financial wellness app tailored to help Gen Z users make informed decisions about money quickly and confidently.
The collaboration aims to bridge the awareness gap between Gen Z and credit unions, with both entities striving to increase Gen Z participation in the financial space.
MSUFCU CIO Benjamin Maxim highlights that only 4% of Gen Z currently utilize credit unions, emphasizing the importance of attracting and retaining younger members for the survival of credit unions.
Both Frich Money and MSUFCU are aligned in their efforts to grow Gen Z participation in credit unions, recognizing the significant financial potential of this demographic, with their deposits estimated to reach a combined $10 trillion by 2030.
The pilot partnership offers networking opportunities, funding, and mentorship to Frich Money and other Michigan-based finance and insurance start-ups, including Newzip, Approva, Ascent, and ScribeUp.