INDUSTRY NEWS



TMCNet:  Bank Michigan Launches Plinqit Savings App

[August 19, 2019]

Bank Michigan Launches Plinqit Savings App

Brooklyn, Mich.-based Bank Michigan announced today that it has launched Plinqit, a brandable, savings app and the only savings tool that pays users for engaging with content.

With $106 million in assets, Bank Michigan was founded in 1907 to support the community of Onsted. Since then, the bank has grown, now servicing individuals in several other Michigan communities including Ann Arbor and Brooklyn. Priding itself on being a 100-year-old community bank, its team takes the word "community" very seriously and views banking as more than processing a deposit or making a loan.

To maintain this commitment and to further growth, the bank is launching Plinqit to foster deeper relationships with existing customers and attract new ones. By expanding its digital offerings to provide a solution that helps its customers build savings, Bank Michigan is helping break the cycle of living paycheck-to-paycheck.

Unlike any other savings app, Plinqit's patent-pending Build Skills™ pays users for engaging with content, creating higher user engagement for Bank Michigan and improved financial literacy for its customers with a reward. The bank's customers simply watch an educational video or read an article from the Plinqit library, take short quiz and Plinqit adds money toward their savings goal as a reward.

"Bank Michigan's core belief is to always provide value to the communities we serve," said Richard C. Northrup, III, President and CEO of Bank Michigan. "Plinqit will offer our current and prospective customers the opportunity to grow their savings and attain financial freedom through the app. As our customers become more familiar with Plinqit and build their financial skills, we expect to see growth in our customer engagement and acquisition."

"Plinqit was designed to create an innovative way to save money and learn about personal finances," said Kathleen Craig, founder and Chief Executive Officer of HT Mobile Apps, creator of Plinqit. "Community financial institutions, like Bank Michigan, are able to connect with customers in a unique way while helping them improve their financial literacy through our savings app. We are excited to see Bank Michigan grow as they build lasting relationships with their customers through Plinqit."

About Plinqit
Plinqit is a brandable, mobile first platform that is elegant and highly powerful at the same time. Unlike any other savings app on the market, its patent-pending Build Skills™ pays users for engaging with content, creating higher user engagement for financial institutions. Created by Millennials for Millennials, Plinqit helps financial institutions connect with this important demographic in a meaningful, relevant way - bringing together digital customers, FI's and savings in one beautiful place. For more information, visit www.plinqit.com.

About Bank Michigan
Bank Michigan was founded in 1907 in Onsted, MI. We have since evolved from a one town, one location Bank to three locations, with our Founding Lenawee County office in Onsted, one location in Brooklyn, and a loan office in Ann Arbor, servicing customers primarily in these market areas. We are a Community Bank with a team who take the word "Community" very seriously. Our staff and directors live in the communities we serve and are locally-minded and involved. We realize that banking is more than processing a deposit or making a loan. It is volunteering time to various community organizations and committees, donating much needed resources to community programs, as well as being consultative partners to our clients. Bank Michigan is truly "more than a bank" and we believe that investments made in our community today will lead to a stronger tomorrow and a better place that we can all be proud to call home. For more information, visit www.bankmichigan.com.


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