Penny Finance announced a strategic investment from One Washington Financial, the holding company of Washington State Employees Credit Union, as the company continues to broaden access to financial planning tools designed for everyday consumers. The investment strengthens Penny Finance’s momentum as a digital platform built to help credit union members manage spending, grow savings, reduce debt, and begin investing with greater confidence.
Penny Finance operates as a Credit Union Service Organization. And it provides an online planner that supports users at all life stages, whether they are navigating student loans, building early savings, preparing for major purchases, or planning for retirement. The company positions its offerings as simple, judgment-free, and accessible to anyone seeking practical guidance. The new investment from OWF is intended to accelerate innovation and help Penny Finance expand its reach throughout the credit union ecosystem.
OWF views the partnership as a strategic fit and believes Penny Finance reflects how members realistically think about and engage with their finances. The investment builds on OWF’s focus on supporting early-stage companies that can provide modern solutions across the credit union industry. Penny Finance’s approach also aligns with OWF’s ambition to bring meaningful financial planning tools to a broad range of members and communities, including young adults, families pursuing homeownership, and even WSECU employees.
The new backing complements existing support from institutional investors, including Curql Fund, Kapor Capital, and Techstars x Pivotal Ventures. Penny Finance plans to continue expanding its digital financial wellness capabilities, connecting credit union members with tools that link their financial goals to relevant products and services while working toward closing the wealth gap in the United States.
KEY QUOTES:
“Our mission has always been to give everyone—not just the wealthy—access to trusted financial planning. Investors like OWF make it possible for us to keep innovating and delivering tools that meet the needs nearly half of Americans served by community-minded credit unions.”
Crissi Cole, Founder & CEO of Penny Finance
“We are thrilled to support Penny Finance in their journey with credit unions and their members. Their approach to a personal finance platform is unique; It aligns with how real people think and feel about money. Early-stage companies like Penny are needed to solve these industry problems, and OWF is proud to be a part of the investor team that powers them.”
Scott Daukas, Principal of OWF
“We’ve been searching for a solution that delivers meaningful financial planning for all — from young adults just starting out, to families preparing to buy a home, to our own employees. Strategically, we see broad potential for Penny Finance’s approach across the credit union industry, offering a truly comprehensive way to help people take control of their money and build confidence.”
Paul Kirkbride, CEO of OWF and COO of WSECU
