Changed is a debt repayment app that uses your spare change from everyday purchases to pay down your debt faster. Available in your BrightStar Credit Union mobile banking app and online banking.  

The Changed App set out with a simple mission: Make debt repayment easy. Debt repayment can feel overwhelming a lot of the time, no matter what stage you’re at in life.  

42% of U.S adults report that money concerns and dealing with debt negatively impact their mental health, leading to a host of problems such as anxiety, stress, and depression. But with the right tools at your fingertips, you can take control of your debt once and for all.  

Changed was built by founders who fated seeing their debt hold them back from their goals. Nick Sky and Dan Stelmach, two Chicago based brothers, sought to change the narrative around debt and took their idea to Shark Tank and got Mark Cuban on board. Since then, the Changed app has had incredible success with helping thousands of people become debt free.  

How does Changed do it? 

After gathering basic information about your debt and spending habits, a custom debt repayment plan is created for you. No more of the same old budgeting hacks that usually boil down to giving up the things you love. Changed makes space for the things you enjoy while paying off your debts and saving, one purchase at a time. 

Every penny you have is put to work, Changed allows you to send micropayments toward your debt every time you go buy groceries, a cup of coffee or fill up your car by rounding up all your transactions. It also offers a Boost feature for members that want a more aggressive paydown plan but also fits a budget. You can set one-time Boosts when you have some extra cash or schedule small amounts every day. Changed makes your money work for you, by letting every penny count. 

Take Advantage of Rounding Up: 

Save On Interest: 

Since your interest is calculated on your remaining loan balance, making additional principal payments or a payment that is larger than the required monthly payment will significantly reduce your interest payments over the life of the loan. Even small additional principal payments can help you reduce the amount of interest you’ll pay.  

Shorten the Loan Term 

Making additional principal payments will shorten the length of your loan term and allow you to become debt free faster. Because your balance is being paid down faster, you’ll have fewer total payments to make, in turn leading to more savings.  

Improve Credit  

In most cases saying more than the minimum payment improves your credit by lowering your DTI (Debt to Income) ratio and by showing your ability to lenders that you can afford to pay more. They call it your minimum monthly payment for a reason, it’s the minimum obligation.  

Who Changed Benefits 

Whether you are a recent college graduate paying off student loans, a new homeowner, or you have other debts Changed benefits you. BrightStar Credit Union partnered with Changed to benefit all members, working to pay off debts or loans.  

BrightStar Credit Union strives for members to have financial freedom, financial independence, and financial stability.  

Learn more about Changed by visiting our Marketplace.