Michigan State University’s Credit Union Acquires Couples Finance App Tandem
In a move that accelerates its strategy to offer comprehensive family banking products, the Michigan State University Federal Credit Union (MSUFCU), via the Reseda Group, has acquired Tandem. The Ann Arbor, Michigan-based financial management app is designed for couples, a group that’s seen an increase in maintaining separate bank accounts over the years, according to U.S. Census Bureau data.
Reseda Group’s Acquisition of Tandem
Reseda Group, a credit union service organization owned by MSUFCU, was an early investor in Tandem back in 2023. The recent acquisition aligns with both Reseda Group and MSUFCU’s goal to create a comprehensive suite of in-house family banking products. The Tandem app allows for connection to multiple individual bank accounts, meaning users need not maintain a joint account for usage.
“Tandem has been a valuable part of the Reseda Group ecosystem for several years, providing Gen Z and millennial couples with a digital solution for navigating their first money milestones and ultimately building their financial futures,” said April Clobes, president and CEO of both Reseda Group and MSUFCU.
Changing Banking Habits Among Couples
A LendingTree survey conducted in 2023 revealed that 62% of American couples shared at least one bank account, while the remaining 38% either did not share expenses or did not use a shared account for the purpose. The U.S. Census Bureau, in a survey conducted in September 2025, found that the share of married couples without any joint bank accounts had risen from 15% in 1996 to 23% in 2023.
Expert Views on the Acquisition
Ben Maxim, Chief Technology Officer for MSUFCU and Chief Operating Officer for Reseda Group, expressed his optimism about Tandem’s offerings. He feels that Tandem could serve groups of people wanting to share finances without necessarily opening a joint account. According to him, Tandem’s potential extends beyond couples, and can also benefit siblings sharing expenses for aging parents, divorced couples co-managing expenses, and university students cohabiting off-campus.
Tandem’s Journey and Future Plans
Tandem, which has been partnering with credit unions since its inception, will continue to develop its suite of family banking products under the aegis of Reseda Group. Michigan-based credit union also sees an opportunity for new member recruitment through the Tandem app.
“With a couple app, one person in the couple was likely a [MSUFCU] member and the other one’s likely not,” Maxim said. “The hope was to get that other person in the partnership to come over and be a member.”
Revenue Model and Future Business Plans
Tandem operates on a “freemium” subscription model, where premium features like instant transactions and unlimited automations are available for a $12 monthly fee. “We’re keeping it a direct-to-consumer app but looking to expand B2B capabilities in the future,” Maxim added.
Tandem’s Position in the Market
Tandem is one of several fintech-built budgeting apps targeted at couples. It competes with the likes of Honeydue, Monarch Money, Plenty, and You Need A Budget. Despite several money management apps having shut down in recent years, Maxim believes that Tandem’s user-friendly interface sets it apart from competitors.
For additional details on this acquisition, visit the source link Here.
