Security Federal Bank Taps Spiral to Launch Automated Savings and Charitable Giving Tools

Quick Summary

Security Federal Bank has partnered with Spiral to launch the Roundup Center, an automated tool allowing customers to grow their automated savings by rounding up debit card purchases. This integration enables users to direct spare change toward personal financial goals or charitable donations directly through their digital banking app.

How Does Security Federal Bank Improve Customer Savings?

Security Federal Bank solves the challenge of inconsistent saving habits by embedding automated savings directly into the transaction flow. By utilizing Spiral’s Roundup Center, the bank allows customers to turn everyday debit purchases into progress toward financial goals. This frictionless approach ensures that users build wealth without needing to manually transfer funds.

• Automatic roundups on every debit card transaction.
• Flexible allocation between personal savings goals and non-profit donations.
• Real-time impact tracking for all charitable contributions.

"As a community bank and CDFI, we are always looking for new ways to help our customers thrive while strengthening the communities we serve," said Phil Wahl, CEO and President of Security Federal Bank. "Spiral makes saving and giving effortless while reinforcing the relationship-based banking experience our customers have come to expect from Security Federal Bank."

What Are the Benefits of Spiral’s Community Impact Platform?

For financial institutions, the Spiral platform serves as a powerful engine for increasing deposit growth and customer primacy. By offering personalized banking experiences that align with consumer values, banks can differentiate themselves from larger national competitors. The platform provides tax-deductible receipts and automated tracking, removing the administrative burden of charitable giving for the end user.

• Trusted by 45+ financial institutions globally.
• Supports over $200 billion in assets under management.
• Turnkey integration with leading core systems and digital providers.

"Security Federal Bank truly puts its customers and community first," said Shawn Melamed, CEO and Founder of Spiral. "When saving and giving feel personal and effortless, community banks see deeper customer engagement, stronger deposit growth, and lasting customer loyalty."

FF NEWS TAKE:

This partnership proves that automated savings is no longer just a feature for neobanks; it is becoming a requirement for community banks to remain competitive. By integrating Spiral, Security Federal Bank is effectively weaponizing its CDFI status to drive engagement. This move definitely moves the needle by proving that social impact and deposit growth are not mutually exclusive in the modern fintech landscape.