Reset raises $6M seed round anchored by credit union customers

What's the deal? ResetDealroom has a profile for this one. Try Dealroom →, an embedded earned wage access platform built for credit unions and community banks, has raised $6M in seed funding, bringing its total capital raised to more than $8M. The unusual twist: more than two-thirds of the round came from the credit unions Reset already serves.

Investors include Georgia's Own Credit Union, InTouch Credit Union, Chartway Credit UnionDealroom has a profile for this one. Try Dealroom →, VyStar Credit UnionDealroom has a profile for this one. Try Dealroom →, and One Washington FinancialDealroom has a profile for this one. Try Dealroom →, alongside Curql, a strategic fund with more than 160 credit union limited partners. Reset plans to use the funds to expand sales, deepen product development, and accelerate deployments.

Why now? Credit unions are losing members to neobanks like Chime, which earned hundreds of millions in new revenue and acquired billions in new deposits in its first year offering earned wage access — much of it poached from traditional institutions.

Reset embeds directly into a credit union's existing tech stack, letting members access earned wages daily, fee-free, through a card issued by their own credit union. The more a member deposits, the more spending capacity they unlock — a structure designed to keep direct deposit relationships sticky.

"We're not just going to sit back and watch our members leave for neobanks," said Kent Lugrand, president and chief executive officer of InTouch Credit Union.

What could go wrong? Earned wage access is an increasingly crowded space, with fintechs like DailyPay, Payactiv, and Even competing for the same workers. Reset's credit union-first approach is differentiated, but scaling through community financial institutions — each with its own tech stack and governance — can be slow and complex.

There's also regulatory risk. US regulators have started scrutinising earned wage access products more closely, and any new rules could affect Reset's fee-free model or interchange revenue structure.

The signal: When corporate investors are also paying customers, a seed round doubles as a retention strategy. Georgia's Own, Chartway, VyStar, and InTouch all participated as corporate backers — not typical venture players — underscoring how existential the neobank threat feels across the sector. With Curql's 160-plus credit union limited partners providing additional distribution leverage, Reset's cap table is effectively a built-in sales pipeline, a rare structural advantage at the seed stage.