couple looking over their finances

The people behind
our purpose.

We work every single day to meet the needs of consumers lacking savings and credit access.
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22%22 percent of the U.S. population is unbanked or underbanked 2019 Federal Reserve study. “Underbanked” is defined as being banked but reported using in the past year an “alternative financial service” such as a money order, check-cashing service, pawnshop loan, auto title loan, payday loan, paycheck advance or tax refund advance
4 in 10 Americans are unable to cover an unexpected expense of $400 or more Federal Reserve Data 2018
couple cooking dinner couple cooking dinner
couple cooking dinner Nearly 70%
of Americans have less than $1,000 in savings Statista 2019
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8 in 10 Americans live paycheck to paycheck
Friedman, Zack, “78% of Workers Live Paycheck to Paycheck.” Forbes.com, January 11, 2019
60 million
Americans lack access to credit Hamdani, Kousar, et al. “UNEQUAL ACCESS TO CREDIT The Hidden Impact of Credit Constraints.” NewYorkFed.org, 2019

We strive to provide the right solutions for our customer.

Purpose Financial customers are middle-income, educated, hard-working people with good financial track records.

Through numerous customer interviews, we identified their unique loan usage, their desired tools and resources and their thoughts about loans and money. We continually use customer insights to guide us towards solutions that meet their changing needs. Our customers have both commonalities and differences — from the importance of family in their lives to their acquired wisdom around loans — that led to our unique customer categories:

Doing Their Best

This customer is trying their best to get ahead — they rarely waste money or splurge — but simply do not make enough money. They are deeply motivated to improve their financial situation and hope to someday achieve more.

Personality Traits:
Optimistic Even in tough times, they believe it will eventually be worth it.
Selfless They sacrifice comfort, time and happiness for loved ones.
Relationship Oriented They prefer to get to know their lender.

Once in a While

This proud, hard-working customer is deeply driven to improve their current financial situation, but occasionally has financial hardship. They would rather take a loan than dip into their savings.

Personality Traits:
Optimistic They believe hard work will help them achieve financial stability.
Driven They are always striving, often working more than one job to improve their current situation.
Resourceful They understand their budget and work hard to stay in control.

The Way of Life

This customer has limited resources and insufficient funds. Loans are seen as supplemental income used to cover monthly expenses. They experience stress but have accepted their current state.

Personality Traits:
Restless They are always pulling resources and finding ways to make it work.
Apathetic They are pessimistic that their financial situation will ever improve.
Stressed They are always worrying about how to make ends meet.

No Problem

This customer has a steady source of income and uses a loan to make up for unexpected expenses or poor budgeting. They have little stress when taking out a loan because they are confident they can pay it back.

Personality Traits:
Content They are rarely worried about their finances and live a comfortable life.
Confident If things go sideways, they will be able to easily get and pay off a loan.
Carefree Because they have a steady income, they may budget loosely, resulting in the need for a loan.

What our customers think about their experience with us.