Piggymojo Partners With Brooklyn Federal Credit Union

Brooklyn Cooperative Federal Credit Union, a nonprofit, low‐income designated credit union, will offer the Piggymojo solution to new and existing account holders to boost savings balances. Piggymojo uses goal visualization, social commitments, and mobile and online technology to help consumers quantify and enjoy the act of not buying. Research shows that impulse buying provides momentary satisfaction, but hinders savings efforts and contributes to debt. The goal of the Piggymojo project is to help low‐income earners increase their savings by motivating and enabling them to make ‘impulse saves’ that retain the satisfaction element of impulse buying without the financial costs. This project will integrate the Piggymojo solution with Brooklyn Cooperative’s core platform so that the impulse save results in money actually moving from the user’s checking account into a savings account.

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