Incent, MDT Partner to Provide Youth Digital Banking Solutions for Credit Unions
PORTLAND, Ore.--(BUSINESS WIRE)-- Incent, a leading provider of family and youth digital banking solutions for banks and credit unions and Credit Union Service Organization (CUSO), and MDT, a CUSO that helps credit unions navigate complex financial technology ecosystems, announced today a partnership to provide MDT clients a fully integrated, youth banking platform to more effectively engage and attract youth members by offering a secure, real-world digital banking experience for children and teens.
Incent and MDT partner to provide an advanced youth banking solution, helping credit unions attract Gen Z and Gen Alpha, build long-term loyalty by engaging younger members and build responsible money management habits.
The growing demographic disparity among credit unions further underscores the importance of engaging with Generation Z (ages 16 -18) and Generation Alpha (ages 6 – 15). In a recent survey conducted by CULytics, 80% of credit union leaders indicated that attracting younger members is 'extremely important.' However, in the same survey, less than 40% of respondents reported gaining 'real traction' with this segment. Incent, in partnership with MDT, is helping address this concern with its fully integrated, white-labeled solution that is designed specifically for younger members with interactive features, a seamless user interface and an intuitive design that is easy to navigate.
Pete Major, Vice President, Fintech Solutions at MDT, said, 'At MDT, we are committed to providing our credit union clients with proven tools and services that support their business goals and help them remain institutions of choice. Engaging the next generation of members is a top priority for credit unions across the country. Incent's platform not only ensures credit unions remain relevant with Generation Z and Generation Alpha, but also has built in features to foster long-term relationships. We are proud to partner with Incent and to make this compelling offering available to our credit union community.'
Together, MDT and Incent are providing credit unions a youth banking solution that builds responsible money management habits by offering a secure, real-world digital banking experience. The platform's robust suite of features are designed to teach financial literacy and encourage responsible money management through various modules including: Learn, Earn, Spend, Save, Give and Borrow.
Marcell King, president and COO of Incent, said, 'MDT has a strong reputation and history of supporting the digital movement and ensuring credit unions of all sizes are equipped to not only succeed, but to thrive in today's increasingly competitive environment. This partnership is yet another example of that commitment and together, we are providing MDT's credit union clients with invaluable tools to educate and engage with younger generations, while also ensuring these members are equipped with the knowledge needed to make sound money decisions and to establish a solid financial foundation. Our platform is designed to engage the entire family, building trust and loyalty for not only today's members, but for future generations as well. We look forward to a long-standing partnership with MDT and to working with their member credit unions.'
Incent's youth banking platform keeps deposits and interchange revenue within the credit union rather than diverting them to third-party fintech sponsor banks. Additionally, the platform helps credit unions grow their share of wallet by maintaining ownership of the relationship and seamlessly transitioning the child to an 'adult' account when the child turns 18.
About Incent
Incent is the leading provider of B2B youth banking services for U.S. banks and credit unions. Designed specifically for community financial institutions, Incent's youth digital banking solution provides the tools needed to teach kids responsible financial habits. The platform engages youth (ages 6–18) by combining financial education and gamification with hands-on real-life banking experiences focused on earning, saving, giving, spending and borrowing money. Incent seamlessly integrates with financial institutions' existing digital banking solutions, enabling banks and credit unions to engage younger customers while maintaining deposits within the institution. The parent or guardian retains full control of the account, ensuring a safe and educational digital banking experience.
For additional information about Incent visit www.incent.net or connect with the company on LinkedIn.
About MDT
MDT helps credit unions navigate complex financial technology ecosystems, ensuring they remain institutions of choice for members. In addition to hosting the Symitar core processing system from Jack Henry™, MDT provides credit unions with the tools and technology needed to compete and grow. Committed to partnership, security, and compliance, MDT takes a collaborative approach to service—leveraging deep industry expertise to understand each institution's unique needs and foster long-term success. MDT supports over 100 credit unions with cloud-based solutions, expert consulting, and digital transformation strategies. With MDT, credit unions across the country can more effectively implement technology, boost efficiencies, and enhance member service. Visit mdtmi.com or follow @memberdriven for more information.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
an hour ago
- Newsweek
More Gen Z Delay Having Kids Than Millennials Amid Birth Rate Decline Fears
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Gen Z Americans are more likely to delay having kids due to economic conditions than millennials, according to a new report from AI platform It's what analysts say could be a concerning trend as the birth rate continues to decline, creating larger implications for the economy, workforce and global politics. Why It Matters The CDC recorded a "historic low" for the U.S. general fertility rate in 2023, aligning with global trends seen in several developed countries. The Congressional Budget Office projected that U.S. fertility will remain below replacement for decades to come. A newborn baby girl is reunited with her mother straight after birth in a hospital environment. A newborn baby girl is reunited with her mother straight after birth in a hospital environment. Tim Clayton/Corbis via Getty Images What To Know In a new report from Gen Z, which consists of those born between 1997 and 2012, was slightly more likely to delay having children than their elder millennial counterparts. Roughly 39 percent of Gen Z said they had delayed having a child because of the current economic climate, while only 36 percent of millennials said the same. Katie Trowbridge, a multi-generational workplace strategist and CEO of Curiosity 2 Create, said the younger generations' decision to forgo parenthood has many reasons beyond just the economics of it, though. "This isn't about apathy. It's about discernment. I see a generation leaning into curiosity, creative and critical thinking, and seeking connection and meaning," Trowbridge told Newsweek. "They're not just putting off parenthood, they're rethinking, redefining, and reimaging what it means entirely." Thoai Ngo, a professor of population and family health at the Columbia School of Public Health, said Gen Z is prioritizing self-growth and career development before starting a family. They've also grown up in a world shaped by climate crisis and economic instability, he said. "Rising costs—student debt, housing, childcare—make financial stability an uphill battle," Ngo told Newsweek. "Climate anxiety and shifting social norms mean that Gen Z doesn't view marriage and children as inevitable milestones." Economic concerns are delaying other major life decisions as well, with 36 percent of Gen Z-ers in the survey saying they've given up on the idea of ever owning a home. Worries over their financial situations have driven 33 percent of Gen Z-ers and 40 percent of millennials to turn to artificial intelligence for personal budgeting, Pearl found, but the larger issue of it being too expensive to have a baby could have significant effects for the already declining birth rate. Declining Birth Rates and Demographic Shifts Research shows that those choosing not to have children—the "child-free"—are an increasingly visible identity group. Demographic breakdowns reveal higher proportions of white, urban, and employed individuals, with younger respondents more often uncertain or undecided about potential parenthood. Concerns over population decline have prompted legislative efforts, such as Ohio's proposed "Natural Family Month" bill to promote marriage and child-rearing. Policymakers and public figures, including President Donald Trump and Vice President JD Vance, have advocated for policies aimed at increasing the birth rate. Meanwhile, discussions about climate change, reproductive rights, and economic factors remain central to the choices facing younger adults. "Ultimately, Gen Z is rethinking commitment and stability in a deeply uncertain future. If we don't address the structural barriers—economic insecurity, lack of family supports, climate threats—we'll see continued delays and declines in family formation, with broad impacts on our social and economic systems in the decades to come," Ngo said. Child-free Americans cite various reasons for forgoing parenthood. A significant subset of young adults, 23 percent, said having children was irresponsible due to climate change, according to a recent Newsweek/Independent Center poll. The same Newsweek report found one in three Gen Zers and millennials do not have and do not want to have children. What People Are Saying Moira Corcoran, a CPA and finance expert on Pearl, said in the report: "This data tells us that Americans, particularly younger generations, are feeling a sense of hopelessness when it comes to their financial outlook. With so many saying saving feels futile at this point, many are looking to make drastic changes to their lives in a way that's reminiscent of the 2008 recession." "Between postponing major life decisions like having a child or owning a home to cutting back on summer travel, it is clear consumers are approaching a state of panic – they need ways to access affordable, professional financial advice to navigate these ever-changing economic conditions." Katie Trowbridge, a multi-generational workplace strategist and CEO of Curiosity 2 Create, told Newsweek: "Gen Z isn't just delaying parenthood because of the economy. They're questioning the world they're inheriting. From climate anxiety and student debt to unstable jobs and rising costs, they're asking big questions like: Can I afford to raise a child in a world that doesn't feel built for thriving?" Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "It shows that in today's economy, it often takes both parents working full-time just to stay afloat. With prices rising and housing becoming less affordable, there's less room — and frankly, less patience — for adding more financial weight. We also saw birthrates start to decline decades ago as more women entered the workforce and opportunities expanded — and that trend is only continuing." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "Not only do inflationary pressures continue to way on the cost of living, but this generation that is newer to the workplace will more than likely be hit harder by many of the layoffs announced over the last six months." "And while the decision to not have children right away because of economic factors may not be fun, it is the right call. Having children is more expensive than ever, and having the maturity to understand it would be impossible to assume the role of parent under one's current income is pivotal for long-term financial growth." What Happens Next There are serious implications if the birth rate continues to decline as recent years would suggest, but these concerns tend to revolve around the workforce and national productivity. "The real concern lies in who's worried — and that's often those viewing the issue purely from an economic lens: fewer workers, fewer contributors to GDP, and slower growth," Thompson said. "Long-term, that could mean more economic stagnation. As populations age, we'll spend more on healthcare and social support and less on innovation and expansion. That's the deeper issue — not population size, but how the age imbalance affects productivity and prosperity."
Miami Herald
an hour ago
- Miami Herald
Bank of America predicts major housing market changes are coming soon
Homebuyers have faced an unpredictable housing market over the past few years. Rising home prices and stubborn mortgage rates have prompted many Americans to delay their plans for homeownership as they wait for housing conditions to improve. Broad economic uncertainty and the ongoing housing market gridlock have dampened buyer confidence, leaving the outlook for 2025 up in the air. Although housing inventory is finally increasing, weak demand could suppress housing sales. Don't miss the move: SIGN UP for TheStreet's FREE daily newsletter Sticky mortgage rates have shattered expectations for a strong housing rebound this year, but the overall market outlook is on the upswing from increased inventory and price deceleration. Though the second half of the year remains uncertain, many experts believe housing conditions will improve, potentially bringing an end to years of stagnation. Bank of America anticipates a few crucial shifts to watch this year. Image source: Acker/Bloomberg via Getty Images Following years of stagnation in the housing market, 2025 was anticipated to bring notable improvements. However, persistent inflation, trade tensions, recession concerns, and financial instability have kept mortgage rates elevated, constraining home sales. Housing affordability is one of the biggest barriers to homeownership, and elevated mortgage rates and inflated home prices have made saving for a down payment and finding a home within budget more difficult. Bank of America recently released its 2025 Homebuyer Insights Report, and it found that buyers are softening on the housing market outlook, but still holding out for better conditions. More than half of prospective homebuyers believe the housing market is in a better position than it was a year ago. And while 75% of buyers expect mortgage rates and housing prices to improve in the next year, they are also holding off on purchasing a home until then. More on homebuying: The White House will take surprising approach to curb mortgage ratesHousing expert reveals surprising ways to reduce your mortgage rateDave Ramsey predicts major mortgage rate changes are coming soonWarren Buffett's Berkshire Hathaway sounds the alarm on the 2025 housing market Younger generations in particularly would be encouraged to buy a home if mortgage rates fell below 6%. Head of Consumer Lending Matt Vernon notes that despite a challenging market, most buyers are planning to purchase a home in the future. "The uncertainty among homebuyers is real, but so is their resilience," he said. "Buyers are navigating a complex environment with rising costs, fluctuating rates, and mixed signals, but many are still planning ahead." First-time homeowners - predominantly Gen Z and Millennials - have struggled to buy a home amid rising prices and heightened competition. The average first-time homeowner age skyrocketed to 38 in 2024 as younger buyers were increasingly priced out of the housing market. In order to afford a home, younger buyers have been encouraged to lower their expectations and make concessions on their homeownership plans. Related: Fannie Mae predicts major mortgage rate changes are coming soon Over 90% of Gen Z and Millennial buyers noted that they purchased a home outside of their ideal neighborhood, and 30% of Gen Z buyers had to get a second job to help save for their down payment. "Even with the challenges they face, younger generations still understand the long-term value owning a home offers them, and many are doing what it takes to get there," Vernon continued. "They are finding creative ways to afford down payments and working hard to improve their financial futures." Though the housing market has been difficult for younger homebuyers to navigate, many remain hopeful that the market will turn around soon - and are finding innovative ways to tackle homeownership in the meantime. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
an hour ago
- Miami Herald
Grocers need to do a better job of explaining prices, shoppers say
Grocery shoppers have only a lukewarm impression of the steps supermarket operators have taken to communicate about factors that could or already do affect what they pay for food, according to survey results released Thursday by research firm The Feedback Group. Respondents to the poll of about 1,100 shoppers, conducted this spring, gave an average score of about 2.5 on a scale of 1 to 5 when asked if their primary grocery store has "communicated in some way" about how tariffs might impact prices. People were only slightly more pleased with the way stores have explained why groceries have become more expensive over the past few years, giving an average grade of just under 3. While people who participated in the survey placed the highest level of blame for increases in supermarket prices over the past few years on government policies and actions, they also indicated that they think grocers are benefiting from price increases. Respondents said they believe grocers have a profit margin of 30%, a figure that was down slightly from a similar poll The Feedback Group conducted last year. Grocery chains recorded a net profit margin after taxes of 1.6% in 2023, according to figures from FMI - The Food Industry Association. The majority (87%) of participants said they expect the tariffs the Trump administration has announced - but not fully implemented - would cause their grocery bills to increase, with only about half saying they thought their costs would increase significantly. Sixty-one percent of respondents said they are "stressed about rising grocery prices," although the figure varied significantly by generation. Seven in 10 participants who belong to Generation X reported that grocery inflation is stressful for them, compared with 65% for Generation Z and 36% for the Silent Generation. Asked which types of groceries they expect to become more expensive because of tariffs, almost 90% of poll participants said they think the prices of imported foods would increase. Two-thirds believe household goods will become pricier because of tariffs, while 63% of respondents said they think meat and poultry costs would go up. More than 60% of participants said they are buying more items on sale because of grocery inflation, which has recently eased. Half said they eat at home more frequently, while about 40% have bought more private label products. Copyright 2025 Industry Dive. All rights reserved.
