Brooke Van Vleet – Pearson, the former President/CEO of InRoads Credit Union, joins Sparrow’s Advisory Board to help accelerate credit unions’ ability to attract and retain Gen Z.
NEW YORK – July 19, 2023 – Sparrow, a prominent financial technology startup revolutionizing
credit unions’ engagement with Gen Z, is excited to welcome Brooke Van Vleet – Pearson,
former CEO of InRoads Credit Union, to its esteemed Advisory Board. With a proven track
record of doubling InRoads assets during her tenure, and leading innovative initiatives in her
prior role as a long-time executive at First Tech Federal Credit Union, Van Vleet – Pearson
brings over three decades experience to shape credit unions’ strategies for capturing the Gen Z
market.
“Credit unions need to consistently leverage those pivotal moments with consumers that can
Brooke Van Vleet – Pearson, former President & CEO of InRoads Credit Union
lead to resilient, engaged member relationships. Sparrow’s groundbreaking approach has unlocked that moment for Gen Z, and I am looking forward to lending my support of their remarkable mission. Credit unions can partner with Sparrow to access their unique student loan marketplace, driving Gen Z adoption and awareness of credit unions, increasing non-interest income without any additional risk to their balance sheet.”
Winning Gen Z effectively
Of all products tailored toward young adults, student loans reign supreme. As of March 2022,
the average Gen Zer carried $15,000 of student debt. Of these borrowers, 7.4 million were
aged 24 years old or younger. It shouldn’t come as a surprise that the demand for private
student loans has exploded by over 200% since 2016, making it the most in-demand product for
Gen Z. However, many credit unions choose not to offer student loans to members and
prospective members.
Although originating student loans may not be a primary strategy, credit unions can still reap
Harrison Hochman, CEO & co-founder of Sparrow
the benefit of gaining exposure and access to this important market segment and build
relationships with younger consumers. We exist to ensure credit unions can leverage student loans to win the battle for Gen Z without becoming a student lender. With Brooke’s leadership, we’re expanding our platform to be completely self-serve, launchable within minutes, and highly configurable to meet the compliance requirements for credit unions of all sizes.
Capturing Gen Z early and often
For every 100 borrowers who use their primary credit union to find a student loan, 65 open a checking
account, 57 take out a credit card, and 20 apply for a mortgage. Partnering with Sparrow will
deepen relationships with this younger demographic.
Sparrow’s turnkey platform allows credit unions to serve existing members as well as acquire
new members. Existing Sparrow partners have experienced immediate impact, including:
- increased the average percentage of members who find funding for their student loan by
5.53x compared to the industry average. - increased non interest income on student loans by 144%
- Accelerated millenial and Gen Z membership growth, with the average age of new
members 29 years old.
Sparrow was founded in 2020 by Hochman, Griffin Morris and Daniel Kahn. Since its founding, Sparrow has become one of the fastest growing educational financing platforms in the U.S., facilitating the search of over $400 million of private student loans.
About Sparrow
Sparrow, one of the fastest growing student student lending platforms in the U.S., offers solutions to borrowers and businesses. Borrowers use Sparrow to search and compare real student loan rates through a single form, bringing simplicity, choice, and transparency to an otherwise inefficient and opaque lending process. Businesses use Sparrow to offer their customers a white-labeled student loan marketplace. Founded by students for students, Sparrow’s mission is to make education accessible and affordable for all. Learn more at www.sparrowfi.com and follow us on LinkedIn.
About Brooke Van Vleet – Pearson
Brooke Van Vleet – Pearson recently retired as President and CEO of InRoads Credit
Union located in Saint Helens, Oregon. Van Vleet – Pearson joined the credit union in 2012
after many successful years as an executive at First Tech Credit Union.
Under Van Vleet – Pearson’s leadership, InRoads more than doubled in size to $350 million in assets and provided valuable services to its members throughout the pandemic, including PPP loans and expanded video banking offerings. She also oversaw the successful rebranding and name change for the organization, creating greater opportunity for future growth.
She has over 30 years’ experience in financial services, and a long history of regional and national industry involvement. She recently concluded a two-year term on the Oregon Governor’s Council of Economic Advisors, providing valuable input to state economists as they develop the state’s annual budget.
Van Vleet – Pearson holds a Master of Business Administration from Portland State University and a Bachelor of Arts in Economics from San Diego State University. Van Vleet – Pearson and her husband reside in Colleyville, Texas, and enjoy gardening, golf, traveling and scuba diving.