First City Credit Union has announced a new partnership with Ribbon that will help members and their families navigate the inheritance process. With this collaboration, First City becomes the first credit union in the United States to offer a fully self-serve online platform for families to initiate inheritance claims.
“Being there for our members and their families during an emotional and stressful time is part of why we exist,” said Nav Khanna, President and Chief Executive Officer at First City Credit Union. “With this new service, an often emotional and cumbersome process can be simplified. Our goal is to support the financial needs of our members’ families with empathy, and Ribbon helps us deliver on that promise.”
With Ribbon’s technology, credit union members and non-members alike can submit inheritance requests through First City’s website. Traditionally, financial institutions have provided only offline methods, which can take 6 to 18+ months. By integrating Ribbon’s platform, families no longer need to visit branches or call customer service to manage claims at a time when the family is grieving.
“Ribbon is thrilled to partner with First City Credit Union to bring modern, accessible solutions to an area that has long been overlooked,” said Saeid Kian, CEO of Ribbon. “This partnership sets a new standard for how financial institutions can support their members during life’s most challenging moments.”
During “The Great Wealth Transfer,” where trillions of dollars are expected to move from Baby Boomers to younger generations and charitable organizations, more forward-thinking approaches such as this are expected—services that offer a compassionate and efficient process for those navigating loss. First City estimates 20%+ in inheritance deposit retention—funds that can help change lives.
Ribbon has been available under the ‘Life Events’ section of First City’s website as of Monday, January 13, 2025.