![]() In 2021, the Consumer Financial Protection Bureau issued a civil investigative demand to Oportun. You may want to read online customer reviews or talk with friends and family who use Oportun to determine whether it will be a good fit. A strong BBB score indicates that a company responds effectively to customer complaints, is transparent about business practices, and advertises honestly.Ī good BBB grade doesn't guarantee you'll have a good experience with a company, though. The Better Business Bureau gives Oportun an A+ grade. ![]() So if you live in a low-income area and use a small, local institution, Oportun could be a good choice. Some apps only link to larger banks, but Oportun is more flexible about serving various types of customers. You'll link your bank account to Oportun to make transfers into the savings, investment, or retirement accounts. It also said that 925,000 customers had started using Oportun to build credit when they didn't have a FICO score yet. The company stated that it had offered 4.3 million affordable loans since 2006. In a 2021 press release, Oportun announced that it was giving a $2 million low-interest loan to the Opportunity Finance Network (OFN), which would be used to extend loans to other CDFIs to help underrepresented communities. These organizations aim to help low-income and disadvantaged communities with their finances. Since 2009, Oportun has been certified as a community development financial institution, or CDFI. This means that should Oportun or Pathward shut down, your insured money is still safe. Oportun is not a bank, but your deposits are FDIC-insured for up to $250,000 through its partner bank, Pathward, N.A. The mobile app has 4.7 out of 5 stars in the Apple store, and 4.2 out of 5 stars in the Google Play store. Oportun has phone numbers for loans, credit card, and the credit account on its website, but not a number for savings customers. To contact customer support, you can fill out a form online, send an email, or text a bot. However, there is a 30-day free trial, and existing personal loan and credit card customers get the first year free. The savings app has a $5 monthly fee, and you can't waive it. The savings app was originally Digit, but Digit rebranded when Oportun acquired the company. Oportun is primarily known for its personal loans, but it also has credit cards, investment and retirement accounts, a credit account with Sezzle, and a savings account with savings and budgeting tools. But if your main goal is to save as much as you can with automatic savings, you might decide downloading Oportun is worth the tradeoffs. The savings rate is also very low, and you'd earn significantly more with a high-yield savings account. However, Oportun charges a $5 monthly service fee monthly service fee after the free trial, and there's no way to waive it. Oportun looks at your bank account balance daily to determine how much you can save, so you can save more money than you would have otherwise. You might like the app if you want to start saving or investing but either a) don't know how to get started, or b) don't want to spend the time or energy figuring out how much you can afford to set aside. The Oportun App is a good tool for helping you figure out how much you can afford to save - and for helping you take action. ![]() Read Our Review A looong arrow, pointing right
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