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Oportun Holiday Savings Report Reveals Consumers Saved More For This Holiday Season

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Oportun (Nasdaq: OPRT) released its 2024 Holiday Savings Report, revealing significant increases in holiday savings through its Set & Save™ product. Members increased their holiday savings by 30% compared to 2023, averaging $396 in summer 2024. Users withdrew an average of $325 from their holiday savings by Q3 2024, with members saving approximately $150 within the first 30 days of creating a holiday goal. Hawaii, Washington, and California led in highest holiday savings per user. Members with multiple holiday savings goals saved 13% more than those with single goals. The Set & Save app, named #1 savings app by Bankrate, has helped members save over $11 billion since 2015, averaging $1,800 annually per member.

Oportun (Nasdaq: OPRT) ha pubblicato il suo Report di Risparmio per le Vacanze 2024, rivelando significativi aumenti nei risparmi per le festività attraverso il suo prodotto Set & Save™. I membri hanno aumentato i loro risparmi per le festività del 30% rispetto al 2023, con una media di $396 nell'estate del 2024. Gli utenti hanno prelevato in media $325 dai loro risparmi per le festività entro il terzo trimestre del 2024, con i membri che hanno risparmiato circa $150 nei primi 30 giorni dalla creazione di un obiettivo per le festività. Hawaii, Washington e California sono stati i primi per risparmi per festività più elevati per utente. I membri con più obiettivi di risparmio per le festività hanno risparmiato il 13% in più rispetto a quelli con un solo obiettivo. L'app Set & Save, nominata app di risparmio numero uno da Bankrate, ha aiutato i membri a risparmiare oltre $11 miliardi dal 2015, con una media di $1,800 all'anno per membro.

Oportun (Nasdaq: OPRT) publicó su Informe de Ahorros para las Vacaciones 2024, revelando aumentos significativos en el ahorro de vacaciones a través de su producto Set & Save™. Los miembros aumentaron sus ahorros para las vacaciones en un 30% en comparación con 2023, promediando $396 en el verano de 2024. Los usuarios retiraron un promedio de $325 de sus ahorros navideños para el tercer trimestre de 2024, con miembros que ahorraron aproximadamente $150 dentro de los primeros 30 días de crear una meta de vacaciones. Hawái, Washington, y California lideraron en los ahorros navideños por usuario. Los miembros con múltiples metas de ahorro navideño ahorraron un 13% más que aquellos con un solo objetivo. La aplicación Set & Save, nombrada la mejor aplicación de ahorro por Bankrate, ha ayudado a los miembros a ahorrar más de $11 mil millones desde 2015, promediando $1,800 anuales por miembro.

Oportun (Nasdaq: OPRT)는 2024년 휴가 저축 보고서를 발표하며 Set & Save™ 제품을 통해 휴가 저축이 크게 증가한 것을 밝혔습니다. 회원들은 2023년 대비 휴가 저축을 30% 늘려 2024년 여름 평균 $396를 기록했습니다. 사용자들은 2024년 3분기까지 휴가 저축에서 평균 $325를 인출했으며, 회원들은 휴가 목표를 설정한 지 30일 이내에 약 $150를 저축했습니다. 하와이, 워싱턴, 캘리포니아가 사용자당 가장 높은 휴가 저축을 기록했습니다. 여러 휴가 저축 목표가 있는 회원들은 단일 목표를 가진 회원들보다 13% 더 많이 저축했습니다. Bankrate에 의해 1위 저축 앱으로 선정된 Set & Save 앱은 2015년 이래로 회원들이 $110억 이상을 저축하도록 도왔으며, 회원당 연평균 $1,800를 기록했습니다.

Oportun (Nasdaq: OPRT) a publié son Rapport sur les Économies de Vacances 2024, révélant des augmentations significatives des économies de vacances grâce à son produit Set & Save™. Les membres ont augmenté leurs économies de vacances de 30% par rapport à 2023, avec une moyenne de 396 $ durant l'été 2024. Les utilisateurs ont retiré en moyenne 325 $ de leurs économies de vacances d'ici le troisième trimestre de 2024, les membres ayant économisé environ 150 $ dans les 30 premiers jours suivant la création d'un objectif de vacances. Hawaï, Washington et Californie ont été en tête des économies de vacances les plus élevées par utilisateur. Les membres ayant plusieurs objectifs d'économie de vacances ont économisé 13% de plus que ceux avec un seul objectif. L'application Set & Save, désignée comme la meilleure application d'épargne par Bankrate, a aidé les membres à économiser plus de 11 milliards de dollars depuis 2015, avec en moyenne 1 800 $ par an et par membre.

Oportun (Nasdaq: OPRT) hat seinen Bericht über die Urlaubsersparnisse 2024 veröffentlicht, der erhebliche Zuwächse der Urlaubsersparnisse durch sein Produkt Set & Save™ offenbart. Die Mitglieder erhöhten ihre Urlaubsersparnisse um 30% im Vergleich zu 2023 und erreichten im Sommer 2024 einen Durchschnitt von $396. Die Nutzer zogen bis zum dritten Quartal 2024 im Durchschnitt $325 aus ihren Urlaubsersparnissen ab, wobei die Mitglieder in den ersten 30 Tagen nach der Festlegung eines Urlaubsziels etwa $150 einsparen konnten. Hawaii, Washington und Kalifornien führten die höchsten Urlaubsersparnisse pro Nutzer an. Mitglieder mit mehreren Urlaubsersparniszielen haben 13% mehr gespart als solche mit einem einzigen Ziel. Die App Set & Save, die von Bankrate zur besten Spar-App gekürt wurde, hat den Mitgliedern seit 2015 geholfen, über $11 Milliarden zu sparen, was einem Durchschnitt von $1.800 pro Mitglied und Jahr entspricht.

Positive
  • 30% increase in holiday savings compared to 2023
  • Average savings of $396 towards holiday goals in summer 2024
  • Members save average of $150 within first 30 days of creating holiday goal
  • Total member savings exceed $11 billion since 2015
  • Average annual savings of $1,800 per member
Negative
  • None.

Insights

The report highlights a positive trend in consumer financial health through Oportun's savings platform, with holiday-specific savings up 30% year-over-year. The average savings of $396 per member and $150 within the first 30 days demonstrates strong user engagement and platform effectiveness. The $11 billion total savings since 2015 and $1,800 average annual savings per member are impressive metrics that validate the platform's value proposition.

The withdrawal patterns showing members accessing $325 on average for holiday spending suggests responsible financial behavior and could indicate reduced reliance on high-interest credit products. This trend could positively impact Oportun's loan portfolio quality and customer retention. The multi-goal savings behavior leading to 13% higher savings indicates successful product engagement and potential for increased platform adoption.

Members increased savings by over 30% over last year, now leveraging funding ahead of holiday spending needs

SAN CARLOS, Calif., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT) today shared results from its 2024 Holiday Savings Report showing that annual holiday have been higher than standard and people are now using set-aside funds to pay for holiday expenses. The report analyzes member year-over-year savings amounts and behaviors for those savings goals tagged as “holiday” in its Set & SaveTM product.

“The 2024 Holiday Savings Report shows that setting goals and saving towards them works,” said Oportun Head of Savings, Annie Ma. “Our members have saved hundreds of dollars for holiday spending this year – more than they have in recent years – and we believe they are now withdrawing that to avoid taking on debt.”

Key findings from the 2024 report indicate:

  • Members generally begin creating holiday savings goals each summer.
  • In summer 2024, members saved an average of $396 towards holiday goals, an approximately 30% increase compared to summer 2023.
  • As of Q3 2024, members had withdrawn an average of $325 from their holiday savings, demonstrating the product’s support for intentional, debt-free spending.
  • In 2024, members saved an average of $150 within the first 30-days of creating a goal labeled as holiday savings.
  • Hawaii, Washington, and California led in highest holiday savings per user in 2024.
  • Members who created more than one holiday savings goal in 2024 have saved 13% more on average than members with just one holiday savings goal.

“Digging deeper, the report also holds a silver lining for those who have yet to begin saving,” continued Ma. “With an average savings of $150 in the first 30 days of creating a goal, there’s still time to save for this holiday season or to have cash on hand to pay off that first post-holiday credit card statement.”

Named the #1 savings app for 2024 by Bankrate, Set & Save helps members automatically set aside money for an unlimited number of savings goals. Using artificial intelligence (AI), its smart savings feature learns member income and spending habits to identify and then automatically transfers “safe-to-save” funds into a separate savings account.

Oportun members have saved more than $11 billion in total using Set & Save since 2015, with an average annual savings of $1,800 per member.

For more information about Oportun, visit https://oportun.com.

About Oportun
Oportun (Nasdaq: OPRT) is a mission-driven fintech that puts its members' financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $18.2 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.

Contacts
Investor Contact

Dorian Hare
(650) 590-4323
ir@oportun.com

Media Contact
Michael Azzano
Cosmo PR for Oportun
(415) 596-1978
michael@cosmo-pr.com


FAQ

How much did Oportun (OPRT) members save for holidays in 2024?

Oportun members saved an average of $396 towards holiday goals in summer 2024, representing a 30% increase compared to summer 2023.

How much do Oportun (OPRT) members typically save in the first 30 days?

Members save an average of $150 within the first 30 days of creating a holiday savings goal.

Which states showed the highest holiday savings for Oportun (OPRT) in 2024?

Hawaii, Washington, and California led in highest holiday savings per user in 2024.

What is the total amount saved by Oportun (OPRT) members since 2015?

Oportun members have saved more than $11 billion in total using Set & Save since 2015, with an average annual savings of $1,800 per member.

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