A Local Take on Buy Now, Pay Later: Meet Embers BNPL

Buy Now, Pay Later has quickly become a common way to pay for purchases. Now, Embers members have another option - one built with lower rates, local service, and the relationship they already have with their credit union. Embers Credit Union has recently launched Buy Now, Pay Later (BNPL) within Digital Banking, giving eligible members the ability to split qualifying purchases into more manageable payments or plan ahead for an upcoming purchase. The idea is simple: provide the flexibility people like about Buy Now, Pay Later, but do it the Embers way. That means competitive rates, straightforward terms, and a local credit union behind the experience.

What is Buy Now, Pay Later?

Buy Now, Pay Later is a type of short-term financing that allows consumers to divide a purchase into multiple payments instead of paying the entire amount at once.BNPL has grown significantly in recent years. According to the Federal Reserve, 16% of U.S. adults used a Buy Now, Pay Later service in 2025, up from 10% when the Federal Reserve first began tracking BNPL usage in 2021. The Consumer Financial Protection Bureau has seen similar growth. Six of the country's largest BNPL providers originated approximately 335.8 million BNPL loans totaling $45.2 billion in 2023. The number of loans originated by those providers increased 23% from the previous year. So, BNPL isn't exactly a niche payment method anymore. For many consumers, it has become another way to manage purchases and cash flow.

Why Embers decided to offer Buy Now, Pay Later

People throughout the Upper Peninsula are already using Buy Now, Pay Later. Our view was pretty simple: if members are going to use BNPL, why shouldn't they have an option available through their own credit union? Instead of sending members exclusively to national fintech companies, Embers can now provide a local alternative directly within Digital Banking. With Embers Buy Now, Pay Later, eligible members can access two different options:

Split Your Payments allows members to take an eligible purchase they've already made and divide it into smaller payments.

Plan Your Purchase allows eligible members to receive funds for an upcoming purchase and repay the amount over time.

Both give members another way to handle larger expenses without needing to open an account with a separate financial app or unfamiliar company.

A lower-rate alternative to many national BNPL companies

One of the biggest differences is the interest rate. Embers currently offers Split Your Payments at 15% APR and Plan Your Purchase at 17% APR for eligible members. Compare that with the maximum APRs advertised by several large national BNPL providers:

Affirm states that its pay-over-time plans range from 0% to 36% APR. Klarna advertises financing from 0% to 35.99% APR, while PayPal's Pay Monthly product ranges from 9.99% to 35.99% APR. Zip's current disclosures include examples with APRs above 34%. Actual rates, products, and eligibility vary by provider and borrower. That means Embers' 15% and 17% APRs are less than half of the highest APR offered by several major national BNPL providers. And while some national providers also offer 0% financing on certain products or purchases, not every borrower, transaction, or repayment plan qualifies for those offers. For members comparing interest-bearing BNPL options, the rate matters.

Buy Now, Pay Later - without leaving your credit union

The rate is only part of the difference. The bigger distinction is who's behind the loan. With many Buy Now, Pay Later services, you're borrowing through a national technology company or one of its lending partners. If you have a question, need help understanding your payments, or run into an issue, you're dealing with a company that may have no connection to your community. Embers is different. We're a credit union serving the Upper Peninsula and surrounding communities. Our members can talk with real people who live and work here, whether that's in one of our offices, over the phone, or through our other service channels. That local relationship doesn't disappear just because the loan happens digitally. We think financial technology should make banking easier without taking the human side out of it.

Why consumers are turning to BNPL

The appeal of Buy Now, Pay Later is fairly straightforward: flexibility. In the Federal Reserve's most recent household survey, 87% of BNPL users said they used it because they wanted to spread out payments, while 82% cited convenience. More than half also said avoiding interest charges, avoiding credit card use, or having a fixed number of payments influenced their decision. But convenience doesn't mean BNPL should be used without considering the cost. The same Federal Reserve research found that 26% of BNPL users made a late payment in 2025. The CFPB has also found that many consumers use multiple BNPL loans at the same time. Its research found that more than three-fifths of BNPL borrowers had simultaneous BNPL loans at some point during the year studied, while roughly one-third borrowed from multiple providers. That's why we think clarity matters. A BNPL loan is still a loan, and members should understand their payment schedule, interest rate, and total cost before borrowing.

A more Embers way to BNPL

We're not offering Buy Now, Pay Later because we think everyone should use it. We're offering it because millions of Americans already do, including people right here in the Upper Peninsula, and we believe our members deserve a competitive option from an institution they already know. Embers BNPL combines the convenience people expect from modern financial technology with something a national fintech can't easily replicate: a local relationship. For eligible members, it's another tool to help manage purchases, spread out expenses, and choose the payment option that works best for them. And it's one more way we're working to bring useful financial tools closer to home.

Ready to see your options?

Eligible Embers members can find Buy Now, Pay Later within Embers Digital Banking to view available offers and terms.

Log in to Digital Banking to see if you have an offer available.