Credit union’s app improves budgeting skills

Tool tracks users' income and outstanding bills.

Small paychecks or irregular pay schedules can wreak havoc on workers’ budgets.

But an innovative app helps consumers maintain a balanced cash flow and avoid check cashers or short-term, high-interest loans.

The nonprofit Neighborhood Trust Financial Partners—which is associated with Neighborhood Trust Federal Credit Union, a $10 million asset community development credit union in New York—is piloting the PayGoal app, a virtual financial planner that allows users to take a proactive approach to their finances.

The app tracks users’ income and outstanding bills, making sure they set aside some money for upcoming expenses and don’t overspend.

“We’re seeing a lot of people we believe could get by with the right money moved around at the right time,” says Eric Cantor, PayGoal vice president of product development.

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