Financial services platform SoFi Technologies, Inc. recently announced that it now serves more than 10 million members, providing comprehensive financial solutions to assist them in borrowing, investing, protecting, saving, and spending their money.
As of September 30, 2024, these members have collectively achieved remarkable financial milestones, including earning 12.5 billion in rewards points, reducing their credit card debt by $33 billion, and borrowing $117 billion, including $44 billion of which went toward refinancing student loans and $9 billion toward home loans. SoFi’s members have also earned more than $1 billion in savings interest.
SoFi CEO Anthony Noto spoke enthusiastically about the achievements, stating, “Hitting the 10 million member mark is more than just a number. This milestone represents the tangible ways we’ve helped our members get their money right on their path to financial independence – whether that’s paying down debt, buying their first home, or making investments for the future. As for SoFi, this is only the beginning – we’re looking forward to building on our track record of product innovation to serve even more people in the years ahead. The best is yet to come.”
Over the past year alone, SoFi has grown its member base by almost 2.5 million, expanding more than ninefold in under five years.
In 2024, SoFi introduced a range of offerings, including the SoFi robo-advisor platform, more accessibility to alternative assets and investment opportunities, early access to IPOs, and new credit card offerings. SoFi plans to continue developing new products to help members achieve financial success.
Learn more here: https://www.sofi.com/press/10-million-members-now-getting-money-right-sofi/
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