The nation’s biggest owner of radio stations, which also calls itself the No. 1 podcast publisher globally (based on Podtrac data) has inked a marketing partnership with a platform that gives consumers access to unsecured lending via institutions such as credit unions.
Why? It’s a joint effort, iHeartMedia says, to “help build awareness of and introduce Happy Money to consumers nationwide looking to fund their happiness and reduce financial stress.”
For those who may mistake Happy Money as a payday lender, think again.
Happy Money, formerly Payoff, has an A+ rating with the Better Business Bureau and is a BBB-accredited business.
That said, Happy Money had 18 personal loan complaints filed in 2021 with the Consumer Financial Protection Bureau.
For iHeartMedia, Happy Money is described as a financial technology company valued at over $1.1 billion “that offers a people-first lending experience in partnership with credit unions and other community-focused financial institutions.”
Happy Money first gained attention for “The Payoff Loan” — a credit card debt reduction opportunity. Today, Happy Money offers personal loans “to help people fund their dreams and goals — from important bills to home improvement projects.”
Happy Money explains, “Through automation and proprietary underwriting models, we personalize the lending process, taking a more holistic view of an individual’s creditworthiness to offer flexible rates and payment plans that work best for their unique financial situation.”
For iHeartMedia, the company believes its “broad reach” will amplify Happy Money’s efforts to provide greater access to funding in partnership with local credit unions — helping these community-focused organizations and the members they serve thrive.
“iHeartMedia’s rich consumer insights, extensive reach, and commitment to innovation made them a natural partner for Happy Money,” said Sadira Furlow, Chief Marketing Officer of Happy Money. “We see them as allies of our team when it comes to driving growth for Happy Money, our credit union partners, and the communities we serve together, as iHeartMedia reaches nine out of 10 U.S. consumers every month — consumers who deserve a positive and community-driven approach to their financial success. As we explore what we can do together across the media and innovation landscape, we aim to help more Americans use money as a tool for happiness.”
Hartley Adkins, President of Markets Group for iHeartMedia, added, “We are passionate about investing in innovative, high-growth companies making a difference in the lives of their communities and as a rapidly growing fintech company, Happy Money has a proven record of success helping people reduce and eliminate credit card debt through their Payoff Loan product. The marketing partnership with iHeartMedia will help to bolster their growth and innovation initiatives through building awareness across our multiplatform audio network, especially as they expand into new types of lending products and science-based models.”
