U.S. Bank, Greenlight Partner to Bring Financial Empowerment to Families

U.S. Bank has partnered with Greenlight Financial Technology to offer a new banking solution aimed at teaching kids and teens financial literacy.

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06/06/2024 - 09:05 AM

Collaboration provides complimentary access to Greenlight debit card and financial literacy tools in the U.S. Bank Mobile App

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bank announced today a partnership with Greenlight® Financial Technology, Inc. (“Greenlight”), the leading family fintech company on a mission to help parents raise financially-smart kids, to provide an innovative banking solution for families.

U.S. Bank is the first financial institution to offer Greenlight through an embedded mobile app experience. (Photo: Business Wire)

Eligible U.S. Bank clients will now have complimentary access to Greenlight’s award-winning debit card and money app, helping more families teach their kids and teens critical financial skills. U.S. Bank is the first financial institution to offer Greenlight through an embedded mobile app experience, leveraging Greenlight’s new software development kit.

Already trusted by more than 6 million parents and kids, Greenlight provides kids and teens with invaluable money management experience while parents enjoy time-saving convenience and peace of mind. With Greenlight, younger U.S. Bank family members can put money skills into practice as they learn to earn, save, and spend wisely — all with parental supervision.

“U.S. Bank has a long-standing commitment to powering the potential of our clients and communities through financial education. For families, there is no better way for kids and teens to build confidence and money skills than with hands-on experience,” said Tim Welsh, vice chairman of consumer and business banking at U.S. Bank. “Our partnership with Greenlight revolutionizes how our clients can teach their kids about money, by providing trusted and proven financial tools that create positive money habits.”

Greenlight brings U.S. Bank clients an easy, convenient way to manage family finances, along with best-in-class financial education. Parents can send money instantly, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications of all transactions, and more. Kids and teens get hands-on experience learning to earn money, spend responsibly, and set savings goals for the future. Kids can also take on interactive educational challenges and earn rewards by playing Greenlight Level Up™, an in-app financial literacy game with an industry-leading curriculum designed to empower young people with money skills and confidence.

“At Greenlight, we’re always looking for new ways to help more young people develop healthy financial habits for a better future,” said Tim Sheehan, CEO and co-founder at Greenlight. “Partnering with U.S. Bank allows us to bring Greenlight to millions of new families, preparing the next generation with the financial knowledge, skills, and confidence they need.”

Starting today, U.S. Bank clients with a U.S. Bank Smartly® Checking account or other eligible U.S. Bank checking account will receive complimentary access to Greenlight. To learn more, please visit www.usbank.com/greenlight.

This is the latest client offering related to Bank Smartly, launched in 2022 to simplify the checking account and rewards experience. Bank Smartly comes with benefits and features that empower clients to manage their money easily and get back to priorities. Clients that open a Bank Smartly Checking account can also enroll in the Smart Rewards program and unlock more benefits based on their total qualifying balances throughout the bank.

About U.S. Bancorp

U.S. Bancorp, with more than 70,000 employees and $684 billion in assets as of March 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2024 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

About Greenlight

Greenlight Financial Technology is the family fintech company on a mission to help parents raise financially-smart kids. Its product, Greenlight, is an award-winning banking app, complete with a debit card for kids and teens and safety features for the whole family. Parents can automate allowance, manage chores, set flexible spending controls, and invest for their family’s future. Kids and teens learn to earn, save, spend wisely, give, and invest. Together, families can also stay safe and connected with location sharing, SOS alerts, crash detection with 911 dispatch, driving scores, reports and real-time trip alerts.

Greenlight partners with more than 50 leading banks, credit unions, and employers to bring its family finance solution to more families through the Greenlight for Banks, Greenlight for Credit Unions, and Greenlight for Work programs.

The Greenlight Debit Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. Greenlight Investment Advisors, LLC, an SEC Registered Investment Advisor, provides investment advisory services to its clients. Investing involves risk and may include the loss of principal. Greenlight is a financial technology company, not a bank. The Greenlight app facilitates banking services through Greenlight's bank partners. For more information, please visit: greenlight.com.

Disclosures: Deposit products are offered by U.S. Bank National Association. Member FDIC.