Grow Financial

Grow Financial

February 24, 2016 12:00 ET

Conexus and Grow Partner to Bring Online Lending to Saskatchewan

REGINA, SASKATCHEWAN--(Marketwired - Feb. 24, 2016) - Conexus, Saskatchewan's largest credit union, announced today a partnership with Grow, Canada's fastest growing FinTech company, to bring online lending to Saskatchewan. This new partnership will allow residents of Saskatchewan access to Grow's cutting edge technology through one of Canada's most trusted and forward thinking financial institutions.

Grow and Conexus are like-minded organizations with similar values. Grow brings the technology and Conexus brings the already trusted service, which means that everyone in Saskatchewan can now fulfill their lending needs through a fully online process - quick, easy, convenient, when members need it. The vision of both Conexus and Grow is for the residents of Saskatchewan to be financially well.

All residents of Saskatchewan will be able to apply for a loan anywhere, anytime, from their computer, phone or tablet, and have the funds in their bank account by the following business day.

For Conexus, the partnership is further evidence of the commitment to innovation and the use of technology to improve the banking experience for members. Conexus' record of technology-forward banking dates all the way back to 1976. It all started with the first full-service ATMs, later the first fully functional online banking, and more recently the first social impact bond agreement in Canada. A few other technologies delivered early to members were text banking, mobile banking, INTERAC e-Transfer®., and mobile remote deposit capture, with now Mobile Payments also on the horizon.

"The partnership with Grow allows Conexus to be flexible and agile in the ability to offer our members and the residents of Saskatchewan another innovative way to do their banking," says Cary Ransome, Chief Operating Officer of Conexus Credit Union. "Banking is no longer a place you go, but a thing you do. Working with a cutting edge FinTech company like Grow provides us the opportunity to remain a forward thinking leader in the financial industry."

"By combining the brand and trustworthiness of an industry leader like Conexus with our leading edge technology, we are able to empower people to take control of their financial health with the familiarity of their community banking relationship," said Kevin Sandhu, Founder and CEO of Grow. "We are thrilled to join Conexus in creating a world class banking experience for residents of Saskatchewan. We couldn't think of a better partner to be launching in the province with."

"Our focus is to continually enhance our member's experience by providing a convenient way to bank anywhere, anytime, anyplace. Partnering with Grow will enable Conexus to deliver on this expectation to our membership," says Tara McKeown, Vice President Sales and Member Experience for Conexus Credit Union. "We are committed to staying relevant for the residents of Saskatchewan not just today, but for tomorrow. By creating opportunities for immediate fulfillment it allows us to be a more effective financial partner for our member owners."

Grow's products will be available through Conexus in the Spring 2016. Stay tuned for the official live launch date!

ABOUT CONEXUS:

Conexus is a technology forward thinking credit union committed to innovation and bringing financial services to market with speed. Saskatchewan's largest and Canada's sixth largest credit union has $7.15 billion in total funds managed and approximately 119,000 members. Over 900 employees and sales professionals serve at more than 41 locations throughout the province. Visit them online at www.conexus.ca.

ABOUT GROW:

Grow is reinventing banking by leveraging the power of technology to make personal finances understandable and anxiety-free. Through cutting-edge software and data science, Grow gives Canadians a faster, easier and more affordable way to borrow. The company's no-fee personal loans are entirely online, only take minutes to apply for, and are funded by the next business day. Grow's newest product, RateTracker, provides unparalleled transparency into a person's creditworthiness by offering an updated interest rate on a monthly basis and information about what the person can do to improve their financial health. Grow was founded in 2014 and is headquartered in Vancouver, BC.

INTERAC e-Transfer is a registered trade-mark owned by Interac Inc., used under license.

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