Lehi startup, Crew, creates app to revolutionize family banking
A Lehi startup called Crew is on a mission to revolutionize the world of banking through a new app that is built around how families handle their finances. The founders of Crew, Gentry Davies and Steve Domino, began working on the app at the end of 2022 after realizing that there was a need for a finance managing service specifically designed for families. They wanted to create a platform that would simplify the banking process and make it easier for parents to teach their kids about money management.
Simplify banking for families with Crew’s mobile app
Crew is a mobile app that aims to simplify the banking process for families. The app allows families to organize multiple bank accounts, making it easier to keep track of finances and manage money. It offers free checking accounts with debit cards and savings accounts for the whole family, and parents are able to set up allowances and send money to their children’s accounts. The app is designed to be simple to use and includes safeguards to ensure that kids can learn about managing their finances in a safe environment.
Crew’s family-friendly banking app aims to teach kids money management
One of the main goals of Crew’s app is to teach kids about money management from a young age. The founders of Crew believe that there is a huge opportunity for financial literacy for kids, and they want to provide a platform that helps parents teach their children about money and savings. The app allows parents to set up allowances for their kids and send them money, so they can learn how to save and budget their own money. The app also encourages delayed gratification, teaching kids the benefits of saving for something they want.
Crew’s app offers parents control over children’s accounts and finances
Crew’s app is designed to give parents control over their children’s accounts and finances. Parents are responsible for their children’s accounts, and they can set up safeguards to ensure that kids can learn about managing their finances with fewer safety risks. The app also allows parents to add their children as authorized users, which can help kids start building credit at a young age. Once a child reaches the age of 18, they can take ownership of their account while still being connected to their parents, if they choose to do so.
Utah-based Crew aims to be the go-to banking experience for families
Crew is based in Lehi, Utah, and the founders believe that Utah is the perfect place to launch a family-focused tech company. They describe Utah as a very family-focused place with a great tech scene, making it an ideal location for a startup like Crew. The company has already secured a $2.5 million investment and has started inviting people from their waitlist to start using the app. Although the app is designed for families, anyone can use it regardless of their family situation. Crew’s long-term goal is to become the best place for families to bank and to grow with people throughout different stages of their lives.
Analyst comment
Positive news. The market for Crew’s app is likely to expand as it simplifies banking for families, teaches kids money management, and gives parents control over their children’s accounts. With the investment and positive reception, Crew has the potential to become a go-to banking experience for families, leading to potential growth and success in the market.
