Women-founded fintech company, Live.Give.Save. Inc., recently announced that it has been taken over by Reseda Group, a Credit Union Service Organization of Michigan State University Federal Credit Union (MSUFCU), the 43rd biggest credit union in the United States. The acquiring contract, which closed on June 1, 2021, dictates that Spave LLC be formed from Reseda Group LLC. Live.Give.Save. has given all its investments to Spave, and Reseda Group will hold 80% of Spave. Live.Give.Save. Founder and CEO Susan Sorensen Langer will own 20% of Spave LLC and will proceed to be CEO.
Previous investors Golden Triangle Angel Fund, CFV Ventures (Charlotte, NC), founding member Susan Langer, and friends and family contributed to Live.Give.Save. MSU Federal Credit Union has been a company like them in many ways, stated Langer. They knew they could enhance their customer experience, bring industry credibility, as well as provide immediate access to their target market.
It was established in 2016 as the Live.Give.Save mission to use every penny expended to support the community and make the world better one individual, one transaction, and one donation at a time. Live.Give.Save.’s mobile app, Spave®, encourages customers to use everyday expenditure to save for themselves and to donate to causes they care about, without changing their lifestyles. Comfort, choice, and control are all improved in this result.
April Clobes, CEO of Reseda Group and MSUFCU, stated that Reseda Group is currently partnering with MSUFCU to expand its technological offerings and make them available to the credit union industry. The credit union business is focusing on people helping people, and the Spave® mobile app offers the platform for assisting individuals through technological advances.
Spave® App 2.0 Released
The latest version of Live.Give.Save.’s mobile app was also recently released in the iOS App Store and Google Play. Spave is the very first phone app that helps you donate to causes you care about while still keeping your finances simple. Buying more means more savings. To make a more significant impact, spave as much as possible.
Spavings are deducted from your primary checking account when you make purchases using your linked cards (debit or credit). Spave® automatically distributes the percentages to your savings and your chosen charity (ies). The Spave® ap enables you:
Set it and forget it. Conveniently and securely link your accounts to start saving and offering, then watch your spavings grow.
Spaving is when you live the life you want, give to the causes you care about, and save for the future.Manage your finances in one placeDefine weekly, monthly, or yearly goals and track your progress.Contribute at least as much to charity as you spend on yourself.
About Live.Give.Save. Inc.
Red Wing, Minnesota-based starting in 2016 Live.Give.Save. the proprietary technology platform and process solves challenges with balancing spending, saving, and giving habits for millennials using cutting-edge mobile technology. It is built for users by users to aid organizations’ outreach efforts (customers, contributors, and community). You can learn more at the Spave website.
For more information, visit: https://spave.us/
About Michigan State University Federal Credit Union (MSUFCU)
MSUFCU is the world’s largest university-based credit union, and it is federally chartered and regulated by the National Credit Union Administration (NCUA). The MSUFCU offers numerous financial products and services, including checking accounts, loans, investments, and insurance. MSUFCU is owned and governed by its members. More than 304,000 members, nearly $6.3 billion in assets, and 21 branches in all.
For more information, visit: https://www.msufcu.org/