LIVONIA, Mich. (6/7/13)--SaveUp, a partner of CU Solutions Group, Livonia, Mich., is one of 11 finalists competing for the Annual Core Innovators Mega Challenge from Core Innovation Capital and the Center for Financial Services Innovation (CFSI).
The competition will name the most promising new idea in serving the 80 million underbanked American consumers known as the emerging middle class. The winner receives $10,000, broad media exposure and a complementary consulting session with the CFSI Advisory Services team.
SaveUp is a member engagement program that rewards members for saving and paying down debt. CU Solutions Group and SaveUp first joined forces in October to help credit unions build stronger member relationships and generate new leads for products. As of May, the program helped users save $449 million and pay down $296 million (News Now May 28).
The 2013 Mega Challenge will be featured at the eighth annual Underbanked Financial Services Forum in Miami this month. Finalists will present a demonstration of their products and take part in question-and-answer sessions. The winner will be selected by interactive audience voting.