PORTLAND, Ore. – January 30, 2025 – Digital banking provider Tyfone today announced ELGA Credit Union (ELGA CU, Grand Blanc, Mich.-based, $1.55 billion in assets, 98,000 members) selected its nFinia® Digital Banking Platform for retail and commercial account holders.

“We want to help our members plan for the future and to do that we need a state-of-the-art, modern architecture that can deliver a personalized experience to each account holder.” said Zach Eychaner, VP of Digital Experience at ELGA CU. “From the very beginning, our teams were completely aligned in our vision, and we knew that Tyfone could provide tools that take digital banking to another level. Tyfone was not just our vendor, it was our true business partner for success.”
ELGA CU was ranked Michigan’s #1 Credit Union on Forbes’ list of America’s Best-in-State Credit Unions for 2024. According to the credit union, the top factors considered when vetting digital banking platforms were the freedom and flexibility to choose third-party fintechs and trust in its digital banking provider to be a true partner. ELGA CU felt that Tyfone would deliver the tools, features and experiences they wanted, with the ability to scale and expand the reach of the institution as the credit union’s membership grows.

As a Community Development Financial Institution (CDFI), ELGA CU goes beyond traditional banking services, focusing on providing access to affordable financial products and services that empower individuals, small businesses and underserved communities. To further this mission, the credit union operates a mobile branch that travels to underbanked areas of the state to make banking services more accessible. Additionally, the nFinia platform’s open, fully configurable framework enables ELGA CU to select the personal finance and financial wellness tool to support member needs.

“One of ELGA CU’s primary goals is to serve the underbanked in our community,” said Eychaner. “There are people who need support, not judgement, in improving their financial situations. Tyfone offers tools that can help our members get a clearer picture of what their current financial situation is, while providing insights and guidance into what they can do next. Tyfone will help us deliver the human touch, without requiring a member to come into the branch or speak with our team.”

“Credit unions need to keep up with the pace of technological innovation, and Tyfone is committed to helping community financial institutions compete and offer the best digital tools for their account holders,” said Siva Narendra, CEO of Tyfone. “We view ELGA CU as a true partner and member of the Tyfone family. We are confident we will deliver a digital experience that improves the financial lives of their members and are thrilled to collaborate on solutions that move the needle.”

About ELGA Credit Union

Serving members since 1951, ELGA Credit Union is a community-focused financial institution committed to providing exceptional financial services to its members while actively participating in the betterment of its communities. Anyone who lives, works, worships, volunteers, or attends school in Michigan is eligible to join. To learn more about ELGA Credit Union, visit ELGACU.com.

About Payfinia

Payfinia Inc. is an independent payments company, providing community financial institutions (CFIs) access to and ownership of their instant payments services. Payfinia’s flagship product offering, the Instant Payments Xchange (IPX), is a secure, scalable and affordable real-time money movement service. Additionally, Payfinia partners with third-party digital providers to integrate instant payments with traditional payment and money movement solutions, extending the technology provider’s capabilities, while also providing member FIs a more robust payments ecosystem. To learn more about Payfinia, visit payfinia.com.