Goodbuy raises USD $1 million from credit union investors

Goodbuy has registered as a Credit Union Service Organisation and raised USD $1 million from four credit union investors: One Washington Financial, Reseda Group, Maps Credit Union and Together Credit Union.

The move places the Boise-based small business marketplace platform within a structure widely used by credit unions to invest in service providers and affiliated ventures. The registration formalises Goodbuy's alignment with the sector it serves.

Goodbuy operates a white-label marketplace that links a credit union's members with its small business account holders. The model is designed to help credit unions win more business relationships, increase small business deposits, lift card spending and re-engage dormant accounts, while giving members discounts of up to 20% at participating businesses.

Under CUSO rules, at least 50% of a registered entity's business must come from credit unions. That ties Goodbuy's commercial growth to the credit union market at a time when lenders and financial technology groups are paying closer attention to services for small businesses.

"Becoming a CUSO is a foundational milestone for us," said Cara Oppenheimer, chief executive officer 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."

Founded in 2021, Goodbuy focuses on helping credit unions use commerce offers and local business listings to build business banking relationships. For small businesses, the marketplace offers access to a local customer base tied to a participating credit union's membership.

"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," said 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."

Investor backing

The funding round drew support from four established organisations in the credit union market. Reseda Group, an investment and innovation arm linked to the sector, said its decision reflected the view that small business banking remains underdeveloped for many credit unions.

"Credit unions have long seen the small business opportunity, but scalable growth solutions have been missing," said Ben Maxim, chief operating officer of Reseda Group. "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."

One Washington Financial is also taking a governance role as part of the transaction. Scott Daukas, principal at One Washington Financial, has joined Goodbuy's board of directors.

"Small business is the most underleveraged opportunity in the credit union space," said Daukas. "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."

Sector focus

The announcement highlights a broader push by credit unions to deepen relationships with business customers, an area where many institutions have traditionally lagged larger banks. While consumer banking remains the core of most credit unions' operations, small businesses represent a potential source of deposits, card spending and fee income.

Goodbuy's approach centres on connecting consumer members and local merchants within a single branded marketplace run by the credit union. In practice, a participating institution can offer promotions from business account holders to its wider membership base while using the platform to attract and retain business customers.

The structure can help credit unions strengthen their small business portfolios without relying solely on conventional lending or account products. For local merchants, the pitch is access to a qualified audience already linked to the sponsoring financial institution.

Before the latest funding and registration, Goodbuy had already gained attention within the credit union ecosystem. It had won NACUSO's Next Big Idea award, been accepted into Velera's Fintech Engagement Program and launched a proof-of-concept deployment with WSECU.

Combined with the new investment, those steps suggest Goodbuy is trying to build its position through direct partnerships with credit unions rather than by selling into the market as a conventional outside supplier. As Oppenheimer put it: "It means we're not just a vendor to credit unions, we're part of the ecosystem."