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Small CU adopts PFM tool
MIDLAND, Texas (11/30/12)--My Community FCU in Midland, Texas, is hoping to get its members to adopt a personal financial management (PFM) application from MoneyDesktop.

MoneyDesktop compiles account information from more than 10,000 financial institutions and provides services that include budget creation, debt management, expense tracking and visual reports on a consumer's financial state (American Banker Nov. 28).

The $255.2 million asset credit union will place PFM on its online banking site landing page and use it as a component for promoting its mobile banking services, the Banker said.

My Community calls the PFM application its "sticky service" because the credit union's members can locate all their financial information in one place, and not have to go beyond the credit union for different financial information, Susie Marsten, My Community senior vice president and chief operating officer, told the Banker.

She especially likes MoneyDesktop PFM's BubbleBudgets, which allow users to view graphics in which bubbles indicate differing spending levels that change colors in relation to how well a consumer is sticking to a budgeting plan, Marsten told the Banker.


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