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Digital Bank Hitched Launches to Help Modern, Committed Couples Manage Their Finances

Hitched offers personalized banking experience to help couples create a lifetime of healthy spending habits

WATSEKA, IL – May 17, 2022Iroquois Federal, an FDIC-insured institution known and trusted for serving its local community for more than 135 years, announced today the launch of its new standalone digital bank, Hitched.

The platform is a digital-first bank with solutions tailored for the unique needs of individuals who have either recently been married, are soon to be married, or are in a committed relationship. Hitched is available for couples to connect their finances, create shared goals, develop healthy spending habits, and make short and long-term decisions for building a better financial future — together.

“Hitched caters directly to couples, an underserved audience desperately in need of financial innovation,” said Linda Hamilton, Executive Vice President and Chief Operating Officer. “Since more than 40 percent of couples don’t discuss finances before getting engaged, our goal is to alleviate the stress and anxiety of discussing—and managing—finances with a partner.”

The need for Hitched is even more necessary now than ever for couples; according to a recent survey from Wakefield, a shocking 40 percent of people don’t discuss finances before getting married, with 12 percent of those people admitting they never discuss financial matters even after marriage. Other survey findings include:

  • An overwhelming 88 percent of U.S. adults in relationships have talked to their significant other about combining their finances, but only 24 percent did so early in their relationship.
  • Sharing bad news can be hard—over half of respondents (53 percent) say telling their significant other that they have $10,000 in credit card debt would be harder than telling them that they hate their best friend or important family member.
  • But once trust is built up, 89 percent have positive feelings about discussing finances with their significant other, including 64 percent who feel confident.

For people that join, Hitched offers the following:

  • Joint checking and savings accounts so couples can manage their shared money
  • Connected debit cards and optional credit cards
  • Custom goals saving folders where both partners can contribute, whether saving for a big purchase or accumulating regular date night funds
  • The ability to manage everyday spending
  • Round Up and other ways to save toward their shared goals
  • Access to online financial education and best practices

For more information, visit hitchedmoney.com and follow Hitched on Instagram, Facebook and Twitter at @HitchedMoney.

About Hitched

Hitched is a digital-first bank custom built to help couples new to combining their finances. Officially backed by long-standing, federally-insured, Iroquois Federal — Hitched provides joint checking and savings accounts, plus tools designed to help couples manage their money, set goals, contribute to their shared savings, and more. Hitched strives to provide tools and resources to build a brighter financial future at every stage of their life together.

About Iroquois Federal

With over 135 years of experience, Iroquois Federal is a community-focused financial institution built on personalized, loyal relationships with its customers. Through innovative financial products and superior experiences, Iroquois remains committed to the financial success of all the people and businesses it serves. The organization is dedicated to corporate and social responsibility and empowering its employees to make a positive impact. Together, working to make a real difference in its communities.

Media Contact
Megan Benedict
Friend of a Friend PR on behalf of Hitched
megan@friendofafriendpr.com

The Hitched Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 500 US adults in relationships, between February 9th and February 16th, 2022, using an email invitation and an online survey. The data has been weighted to ensure an accurate representation of US adults in relationships. The margin of error for the study is +/- 4.4%.