Here’s something you don’t see every day: a fintech company actually putting its money where its mouth is.
Goodbuy, a small business marketplace platform designed specifically for credit unions, just registered as a credit union service organization (CUSO). Translation? They’re not just selling to credit unions anymore—they’re structurally part of the family.
Oh, and they closed a cool $1 million in funding from four credit union investors while they were at it: One Washington Financial (OWF), Reseda Group, Maps Credit Union, and Together Credit Union.
Why This Matters
Look, credit unions have been sitting on a goldmine they’ve barely touched: small business banking. Sure, they’ll open an account for your local coffee shop or landscaping company, but meaningful support beyond that? Pretty much crickets. Goodbuy’s Community Commerce platform is trying to change that equation by giving credit unions actual tools to acquire business relationships, boost SMB deposits, drive card spending, and wake up those zombie accounts gathering dust.
“Becoming a CUSO is a foundational milestone for us,” said Cara Oppenheimer, CEO and co-founder of Goodbuy. “It means we’re not just a vendor to credit unions, we’re part of the ecosystem. This investment from four credit union partners signals that credit unions are ready to build this together, not just buy it.”
So What Does This Platform Actually Do?
Think of it as a matchmaking service, but for commerce instead of dating. Goodbuy connects a credit union’s member base directly with its small business account holders through a white-label marketplace. Small businesses get a qualified audience of local customers who already trust their credit union. Members save up to 20% shopping at these businesses. And credit unions? They grow deposits, generate non-interest income, and actually build a competitive small business portfolio instead of just talking about it.
“Small businesses are the backbone of credit union communities, but most credit unions have had no real way to show up for them beyond holding the account,” explained Cary Telander Fortin, co-founder of Goodbuy. “With Goodbuy, credit unions can acquire new business relationships, grow SMB deposits and turn their member base into a real growth channel for local businesses.”
The CUSO Structure Isn’t Just Paperwork
Registering as a CUSO isn’t just about checking boxes. This structure is already familiar territory for credit unions, which makes partnership easier. But there’s a commitment baked in: CUSOs must derive at least 50% of their business from credit unions. That’s not a suggestion—it’s a requirement that formally ties Goodbuy’s success to the credit union movement it’s serving.
Ben Maxim, COO of Reseda Group, put it this way: “Credit unions have long seen the small business opportunity, but scalable growth solutions have been missing. Goodbuy gives credit unions a practical way to drive growth for their business members. That clarity is what led Reseda Group to invest. We see this as an important part of the ecosystem’s future.”
New Board Member Sees the Bigger Picture
Scott Daukas, Principal at One Washington Financial, has joined Goodbuy’s board of directors. His take on the opportunity? Blunt and accurate.
“Small business is the most underleveraged opportunity in the credit union space,” Daukas said. “Members want their credit union to show up for their business the way they show up for their personal finances, and until now, the tools to make that happen just haven’t existed. Goodbuy is changing that, and I joined this board because I want to help drive it.”
Momentum Has Been Building
This CUSO registration and investment round aren’t happening in a vacuum. Goodbuy recently won NACUSO’s 2024 “Next Big Idea” award, got accepted into Velera’s Fintech Engagement Program, and completed a proof-of-concept deployment with WSECU. In other words, the industry has been paying attention.
The real question now? Whether more credit unions will recognize that small business banking isn’t just an opportunity—it’s a gap they can’t afford to ignore much longer.