2025 Letter to Shareholders

Our members are the heart and soul of the American economy. They’re healthcare workers, teachers, corporate employees, retail associates, and first responders.

When they make Chime their primary financial partner, we give them an even more rewarding bank relationship. Cash back on everyday spending, a savings rate as high as 9x the national average, overdraft protection, early access to their paycheck, credit building that increases scores up to 70 points, and an ATM network larger than the three biggest banks combined – all at no cost.

We can offer all of this because of how we built our business. We generate revenue primarily through payments. So as our members earn more, save more, and spend confidently, we get to grow with them. Beyond payments, our platform-based revenue is growing rapidly as more members access short-term liquidity through Chime when they need it most – and that growth is good for them and for us.

That’s showing up in the data: 97% of our members say we have unlocked their financial progress. And for two consecutive quarters, J.D. Power found that Chime opened more new checking accounts than every bank and fintech in America.¹

Today, Chime is America’s #1 choice for banking – with less than 5% penetration in a market of nearly 200 million Americans.

2025 was a remarkable year by any measure. We completed our IPO, delivered full year revenue growth of 31% to $2.2 billion, and grew to 9.5 million active members. We also cemented competitive moats that we believe will drive Chime’s growth for years to come.

Technology advantage. In 2025, we completed our migration to ChimeCore, our proprietary payments processor and ledger, securing a long-term structural cost advantage. Our cost to serve is now roughly one-third of large banks and one-fifth of regional banks. Transaction processing costs are already down an estimated 60%, bringing us closer to our 90% gross margin target. ChimeCore also gives us full control over how we build and ship, cutting build cycles from 12 weeks down to as little as three days. This technology advantage becomes more critical in the AI era we’ve entered.

Product innovation. Chime Card, our new secured credit card, brought meaningful rewards to everyday spending and is now adopted by over half of new members, who use it for more than 70% of their Chime spend. MyPay, our on-demand payroll product, exceeded $400 million in revenue run rate in Q4 and achieved our 1% loss rate target after only one year. Across our low-cost, low credit risk liquidity offerings – SpotMe, MyPay, and Instant Loans – we exited the year at over $40 billion in annualized origination volume. Chime Workplace brought our fee-free tools to employers and employees, establishing direct deposit relationships at its source and opening a new acquisition channel.

Primary account relationships. Our members transact with us more than 50 times per month on average, anchored by direct deposit, and that depth of engagement makes our products better over time including smarter underwriting, lower loss rates, and first-in-line repayment on liquidity products. Primary account relationships also drive product adoption and ARPAM growth, and the more a member does with Chime, the more valuable Chime becomes in their financial life.

These deep relationships also give us a real-time view into the financial health of mainstream America. Despite headlines of a pressured consumer, our data consistently told a different story. Spending remained steady, savings grew, and we saw no signs of meaningful job loss. Our business is rooted in everyday, non-discretionary spend, and that makes for a resilient business regardless of the macro environment.

Brand advantage. What started as a challenger is now a champion for mainstream America. TIME’s national consumer survey recognized Chime as the #1 brand in banking, and we’re not even a bank. Our brand strength lowers our cost to grow and deepens the trust to keep members with us for life.

In the late 1800s, electricity didn’t just create a new power industry; it transformed every industry that learned to harness it. While the new utility companies thrived, it was the companies that leveraged this new energy source that transformed communications, manufacturing, transportation, and so many other parts of society.

AI will be even more consequential. There will be winners and losers, and we expect the companies that lose ground will be the ones built on workflow automation that AI can now replicate. For a full-stack fintech like Chime, with proprietary data and infrastructure, deep bank integrations, and a trusted brand, we anticipate AI will compound our structural advantages and make Chime the clear choice versus incumbent banks.

Our advantage starts with data, but the deeper advantage is what we can do with it. As the primary account for millions, we see their full financial picture in real time: paychecks, bills, balances, and decisions all flow through our platform. Because ChimeCore powers everything from the ledger to the app experience, we can take action in ways no app on the outside of that relationship ever could. With a member’s permission, we can instantly move money to where it earns more, extend credit the moment someone needs it, and stop an unwanted charge before it hits.

While AI will accelerate nearly everything, it cannot shortcut bank partnerships, payment network relationships, and compliance infrastructure that make our business model possible. At the same time, consumers will be even more selective about what services they trust with their finances. Ultimately they will choose the banking app they trust the most to advise and act on their behalf. You can quickly vibe code a lot of things, but a trusted and regulatory compliant bank account is not one of them.

The data, the infrastructure, the trust, and the regulatory foundation each make the others more valuable. AI strengthens these capabilities and is already helping to deliver outsized business results.

Over the past three years, we’ve reduced cost to serve by nearly 30% and increased ARPAM by 23%, all while improving member satisfaction. We’ve also boosted developer throughput, cut code review time, and more than doubled marketing creative output at a fraction of the cost.

This year, our ambitious roadmap initiatives – more rewarding membership, investing, joint and custodial accounts, along with our consumer AI co-pilot – are all designed to deepen our primary account relationships.

Chime Prime, our premium membership tier, is built for members who want to make Chime the center of their financial life – including our fastest-growing segment of members earning $75,000 and above. The more they bring, the more we deliver back through cash back rewards, higher interest rates on savings, better access to liquidity, and premium perks. We’re also introducing joint and custodial accounts, because the primary relationship should work for the whole family.

Investing will give every member a stake in the economy they power every day. The compounding growth of markets is the greatest opportunity for long term wealth creation, but it has largely bypassed many Americans who need it most. Through Chime, our members will now have a clearer path towards long term prosperity.

Jade, our AI co-pilot, is how banking evolves next at Chime. More than half of American adults lack basic financial education. The result is millions of Americans who want to make better financial decisions, but don’t have the time, know-how, or confidence to do so. Our vision is for Jade to understand a member’s complete financial picture, show them what to do, and over time, with their permission, act on their behalf. With Jade, every American will have access to personalized and trusted financial intelligence – and a partner to help them take control of their financial future.

Our opportunity ahead is to become the financial platform for mainstream America. Not because we locked people in, but because we built something worth staying for.

I grew up watching a banking system that failed too many of the people around me. Chime was built to change that – a financial partner that actually works for our members and will never take them for granted.

And we’re just getting started.

Chris Britt
Co-founder and CEO

Read the 2025 annual report here.