Author: Daniel Kahn

Red Canoe Credit Union Builds Bridges with Gen Z through Sparrow

LONGVIEW, WA – January 11, 2024 – Red Canoe Credit Union, a forward-thinking financial institution committed to member success, announces a groundbreaking partnership with Sparrow, a leading fintech championing the credit union movement. This collaboration marks a pivotal step in Red Canoe’s mission to empower Gen Z and propel their financial future.

We understand that Gen Z craves financial clarity and personalized solutions. By partnering with Sparrow, we harness cutting-edge technology to deliver precisely that. Through their innovative student loan marketplace platform, we provide Gen Z members with the options to clearly and transparently fund their higher education goals, without the anxiety and stress usually associated with the process.

Amy Davis, Chief Marketing Officer of Red Canoe Credit Union

Revolutionizing Engagement through Targeted Solutions

Red Canoe Credit Union strategically integrates Sparrow’s platform to redefine its approach to Gen Z engagement. By adopting Sparrow’s white-labeled student loan marketplace, the credit union gains a distinct advantage, offering:

• Streamlined access to diverse lenders and competitive rates: Gen Z members can compare and choose from a wide range of student loan options, ensuring they secure the best fit for their needs.
• Personalized financial guidance: Sparrow’s platform leverages data-driven insights to deliver tailored recommendations and resources, empowering Gen Z members to make informed financial decisions.
• Maximized transparency: Members can understand what the cost of borrowing might be without adversely affecting their credit score.

We are thrilled to partner with Red Canoe Credit Union in their dedication to building brighter financial futures for Gen Z. Our platform equips Red Canoe with the tools and expertise to attract, engage, and empower this influential demographic. Together, we pave the way for a more inclusive and accessible financial landscape for all.

Harrison Hochman, Chief Executive Officer of Sparrow

Sparrow is expanding their reach beyond college and universities direct and reaching out to credit unions to establish strategic partnerships. Red Canoe proves to be a good partner in the Pacific Northwest with their current growth in serving a younger demographic and mission to help members financially thrive. 

About Red Canoe Credit Union

Red Canoe Credit Union is a $1.1 billion community financial institution proudly serving over 60,000 members. Red Canoe Credit Union is a vibrant financial institution dedicated to member success and community prosperity. Learn more at https://www.redcanoecu.com/. Deposits insured by the NCUA, an agency of the US government.

Sparrow

Sparrow, one of the fastest growing student lending platforms in the U.S., offers solutions to borrowers and businesses. Borrowers use Sparrow to search and compare real student loan rates through a single form, bringing simplicity, choice, and transparency to an otherwise inefficient and opaque lending process. Businesses use Sparrow to offer their customers a white-labeled student loan marketplace. Founded by students for students, Sparrow’s mission is to make education accessible and affordable for all. Learn more at www.sparrowfi.com and follow us on LinkedIn.

Media Contact

Sparrow Labs Inc.

Sparrow Media Inquiry

support@sparrowfi.com

NEW YORK – August 2, 2023 – Sparrow, a pioneering financial technology startup, and SAGE Scholars, the nation’s oldest and largest private college preparation and funding organization, have announced a
transformative partnership to promote accessible and sustainable ways of financing higher education. Through this collaboration, Sparrow and SAGE Scholars are set to offer innovative solutions to empower
students and families seeking affordable pathways to college.

We are delighted to collaborate with Sparrow, a visionary company that shares our mission of providing affordable education opportunities. Through this partnership, we are better equipped to extend our reach and manifest our mission, enabling students to pursue their dreams without being overwhelmed by student debt.

Michael Hall, Chief Executive Officer at SAGE Scholars

Enhancing Financial Accessibility

By leveraging Sparrow’s white-labeled student financing marketplace, SAGE Scholars gains access to a vast network of reputable lenders, providing students with diverse funding options while maintaining a cohesive user experience.

With the goal of making education accessible to all, our partnership with SAGE Scholars represents a step towards ensuring the next generation has the means to pursue higher education without undue financial burdens. By leveraging the power of data-driven strategies and cutting-edge technology, we are determined to create a lasting impact on students’ lives and help them achieve their academic aspirations.

Harrison Hochman, Chief Executive Officer at Sparrow

Promoting the Next Generation’s Educational Journey

As the upcoming academic year approaches, Sparrow and SAGE Scholars are set to empower students with a host of features and functionalities, including:

• Access to an extensive database of personalized student loan offers with 260+ unique data attributes per user.
• A three minute pre-qualification process to check rates from a vast nationwide network of lenders.
• An ability to check rates with multiple lenders that do not require cosigners.

Sparrow was founded in 2020 by Hochman, Griffin Morris, and Daniel Kahn. Since its inception, Sparrow has emerged as one of the fastest-growing student lending platforms in the U.S., facilitating the search of over $500 million of private student loans.

About Sparrow

Sparrow, one of the fastest growing student student lending platforms in the U.S., offers solutions to borrowers and businesses. Borrowers use Sparrow to search and compare real student loan rates through a single form, bringing simplicity, choice, and transparency to an otherwise inefficient and opaque lending process. Businesses use Sparrow to offer their customers a white-labeled student loan marketplace. Founded by students for students, Sparrow’s mission is to make education accessible and affordable for all. Learn more at www.sparrowfi.com and follow us on LinkedIn.

About SAGE Scholars

SAGE Scholars, headquartered in Philadelphia, is the nation’s oldest and largest private college preparation and funding organization. With a mission to provide access to affordable college opportunities, SAGE Scholars brings together families, colleges and universities, and benefit providers to create college funding solutions. For more information, visit www.tuitionrewards.com.

Media Contact

Sparrow Labs Inc. | Sparrow Media Inquiry | support@sparrowfi.com

SAGE Scholars

SAGE Media Inquiry | media@sagescholars.com

Sikorsky Credit Union embraces innovation with Sparrow partnership to propel Gen Z membership through cutting-edge student loan marketplace.

NEW YORK – July 21, 2023 – Sikorsky Credit Union, a leading financial institution boasting assets totaling $1.1 billion, proudly announces its groundbreaking collaboration with Sparrow, one of the nation’s fastest growing student lending platforms. This strategic alliance marks a pivotal moment for Sikorsky Credit Union as it embarks on a transformative journey to revolutionize its approach to private student loans, captivating the next generation of young members.

Our commitment to driving Gen Z membership and engagement made selecting Sparrow an
unequivocal decision. The remarkable implementation process and the wealth of invaluable data generated by Sparrow’s marketplace have surpassed our expectations. Empowered by Sparrow’s platform, we can effectively cross-sell our members on a range of products, elevating their overall financial journey. We firmly believe this partnership will propel our success in engaging the next generation and fostering their long-term loyalty.

Vincent Ciambriello, Chief Executive Officer of Sikorsky Credit Union

Unlocking Rewards While Mitigating Lending Risk

Sikorsky Credit Union has embraced innovation by harnessing Sparrow’s cutting-edge platform, positioning itself as a trailblazing financial institution that reaps the rewards of student loans without shouldering the lending risk. Unlike conventional approaches, Sikorsky leverages Sparrow’s white-labeled student loan marketplace, gaining access to a vast network of more than 20 reputable lenders. This strategic advantage empowers Sikorsky to offer its members a diverse range of loan options while unwaveringly focusing on delivering exceptional member experiences.

“We are excited to join forces with Sikorsky Credit Union’s visionary team, who wholeheartedly shares our mission of delivering exceptional borrowing experiences to members,” expressed Harrison Hochman, CEO at Sparrow. “Together, we are poised to make a profound impact in engaging Gen Z and driving membership growth. Our goal is to enable credit unions to better serve their members, stay ahead of the curve, and revolutionize their strategies for acquiring Gen Z members.”

Navigating Upstream to Win Gen Z Loyalty

In anticipation of the upcoming academic year, Sikorsky’s new student loan marketplace comes equipped with cutting-edge features and functionality designed to thrive:

• Access to 260+ unique data attributes per non-member using the marketplace.
• Over 30+ turnkey marketing resources to automate cross-selling and member engagement.

Sparrow offers a distinct product that effectively engages Gen Z members and provides invaluable data crucial for acquiring younger members. Their innovative approach perfectly aligns with our strategy to attract and serve the next generation. Leveraging data-driven marketing strategies and tailored solutions, we are confident that our partnership with Sparrow will significantly bolster our efforts in acquiring and engaging younger members, cementing our position with the next generation.

Ken Ferrari, Chief Lending Officer at Sikorsky Credit Union

Sparrow was founded in 2020 by Hochman, Griffin Morris, and Daniel Kahn. Since its inception, Sparrow
has emerged as one of the fastest-growing student lending platforms in the U.S., facilitating the search
of over $400 million of private student loans.

About Sparrow
Sparrow, one of the fastest growing student lending platforms in the U.S., offers solutions to borrowers
and businesses. Borrowers use Sparrow to search and compare real student loan rates through a single
form, bringing simplicity, choice, and transparency to an otherwise inefficient and opaque lending
process. Businesses use Sparrow to offer their customers a white-labeled student loan marketplace.
Founded by students for students, Sparrow’s mission is to make education accessible and affordable for
all. Learn more at www.sparrowfi.com and follow us on LinkedIn.

About Sikorsky Credit Union
Sikorsky Credit Union is one of the largest credit unions in Connecticut with more than 62,000 members.
Membership is open to anyone who lives, works, worships, or volunteers in Fairfield, Hartford, or New
Haven counties. Sikorsky Credit Union believes in banking the way you choose and gives members the
option to bank at one of their convenient branch locations, online or through their mobile app. For more
information, please visit www.sikorskycu.org. Deposits insured by the NCUA, an agency of the US
government.

Brooke Van Vleet – Pearson, the former President/CEO of InRoads Credit Union, joins Sparrow’s Advisory Board to help accelerate credit unions’ ability to attract and retain Gen Z.

NEW YORK – July 19, 2023 – Sparrow, a prominent financial technology startup revolutionizing
credit unions’ engagement with Gen Z, is excited to welcome Brooke Van Vleet – Pearson,
former CEO of InRoads Credit Union, to its esteemed Advisory Board. With a proven track
record of doubling InRoads assets during her tenure, and leading innovative initiatives in her
prior role as a long-time executive at First Tech Federal Credit Union, Van Vleet – Pearson
brings over three decades experience to shape credit unions’ strategies for capturing the Gen Z
market.

“Credit unions need to consistently leverage those pivotal moments with consumers that can
lead to resilient, engaged member relationships. Sparrow’s groundbreaking approach has unlocked that moment for Gen Z, and I am looking forward to lending my support of their remarkable mission. Credit unions can partner with Sparrow to access their unique student loan marketplace, driving Gen Z adoption and awareness of credit unions, increasing non-interest income without any additional risk to their balance sheet.”

Brooke Van Vleet – Pearson, former President & CEO of InRoads Credit Union

Winning Gen Z effectively

Of all products tailored toward young adults, student loans reign supreme. As of March 2022,
the average Gen Zer carried $15,000 of student debt. Of these borrowers, 7.4 million were
aged 24 years old or younger. It shouldn’t come as a surprise that the demand for private
student loans has exploded by over 200% since 2016, making it the most in-demand product for
Gen Z. However, many credit unions choose not to offer student loans to members and
prospective members.

Although originating student loans may not be a primary strategy, credit unions can still reap
the benefit of gaining exposure and access to this important market segment and build
relationships with younger consumers. We exist to ensure credit unions can leverage student loans to win the battle for Gen Z without becoming a student lender. With Brooke’s leadership, we’re expanding our platform to be completely self-serve, launchable within minutes, and highly configurable to meet the compliance requirements for credit unions of all sizes.

Harrison Hochman, CEO & co-founder of Sparrow

Capturing Gen Z early and often

For every 100 borrowers who use their primary credit union to find a student loan, 65 open a checking
account, 57 take out a credit card, and 20 apply for a mortgage. Partnering with Sparrow will
deepen relationships with this younger demographic.

Sparrow’s turnkey platform allows credit unions to serve existing members as well as acquire
new members. Existing Sparrow partners have experienced immediate impact, including:

• increased the average percentage of members who find funding for their student loan by
  5.53x compared to the industry average.
• increased non interest income on student loans by 144%
• Accelerated millenial and Gen Z membership growth, with the average age of new
  members 29 years old.

Sparrow was founded in 2020 by Hochman, Griffin Morris and Daniel Kahn. Since its founding, Sparrow has become one of the fastest growing educational financing platforms in the U.S., facilitating the search of over $400 million of private student loans. 

About Sparrow

Sparrow, one of the fastest growing student student lending platforms in the U.S., offers solutions to borrowers and businesses. Borrowers use Sparrow to search and compare real student loan rates through a single form, bringing simplicity, choice, and transparency to an otherwise inefficient and opaque lending process. Businesses use Sparrow to offer their customers a white-labeled student loan marketplace. Founded by students for students, Sparrow’s mission is to make education accessible and affordable for all. Learn more at www.sparrowfi.com and follow us on LinkedIn.

About Brooke Van Vleet – Pearson

Brooke Van Vleet – Pearson recently retired as President and CEO of InRoads Credit
Union located in Saint Helens, Oregon. Van Vleet – Pearson joined the credit union in 2012
after many successful years as an executive at First Tech Credit Union.

Under Van Vleet – Pearson’s leadership, InRoads more than doubled in size to $350 million in assets and provided valuable services to its members throughout the pandemic, including PPP loans and expanded video banking offerings. She also oversaw the successful rebranding and name change for the organization, creating greater opportunity for future growth.

She has over 30 years’ experience in financial services, and a long history of regional and national industry involvement. She recently concluded a two-year term on the Oregon Governor’s Council of Economic Advisors, providing valuable input to state economists as they develop the state’s annual budget.

Van Vleet – Pearson holds a Master of Business Administration from Portland State University and a Bachelor of Arts in Economics from San Diego State University. Van Vleet – Pearson and her husband reside in Colleyville, Texas, and enjoy gardening, golf, traveling and scuba diving.