ModernFi CUSO

ModernFi CUSO proudly welcomes Credit Union 1 to the first-ever deposit network focused on credit unions. As a leader in adopting this innovative solution, Todd Gunderson, CEO & President of CU1, is excited to transform the way credit unions grow deposits.

ModernFi CUSO and Tru Treasury are proud to announce our upcoming webinar on “Strategies for Credit Unions to Win in Business Banking,” taking place on September 19th. Discover innovative strategies and insights from Jeff Bassett, Head of Enterprise Solutions at Tru Treasury, and Adam DeVita, COO of ModernFi, to help your credit union thrive in the business banking sector. Secure your spot today: https://lnkd.in/ecrigM92

ModernFi CUSO is thrilled to announce our partnership with Tru Treasury to deliver transformative balance sheet management tools for credit unions. This collaboration equips credit unions to navigate the complexities of business banking and secure high-dollar accounts with extended NCUA insurance.* Commercial deposits have become a crucial segment for credit unions, doubling as a percentage of total deposits from 2015 to 2023. Our partnership with Tru Treasury equips credit unions with the necessary tools and resources to navigate the complexities of business banking. John Ballantyne, CEO of Tru Treasury, stated, “Our broad range of treasury solutions combined with ModernFi’s industry-leading deposit network significantly enhances the financial infrastructure available to credit unions, positioning them to win in the competitive business banking market.” Michael Mutscheller, Head of Business Development at ModernFi, added, “As credit unions face one of the most competitive deposit environments in recent memory, ModernFi’s partnership with Tru Treasury provides credit unions an innovative solution to manage their balance sheet needs and offer members value through access to millions in insurance.” Together, ModernFi and Tru Treasury are committed to driving innovation and supporting the mission of credit unions nationwide, helping them optimize financial operations, attract large deposits, and deliver superior services to their members. * Insurance is provided through program credit unions (subject to certain conditions) Read more here: https://lnkd.in/eshrwb6s

In today's fiercely competitive deposit landscape, financial institutions are seeking innovative ways to attract deposits. While rate competition is prevalent, it often falls short in building the long-term member relationships that credit unions truly desire. Our newest insights dive into how ModernFi CUSO’s deposit network provides a sustainable growth strategy by offering accounts with extended NCUA insurance*, helping credit unions attract long-lasting, sticky relationships without relying on rate. Read more here:?https://lnkd.in/euan_ZWM * NCUA insurance provided by program credit unions (subject to meeting certain conditions)

Last week, we?announced the formation and funding?of?ModernFi CUSO, a credit union service organization focused on supporting and scaling the first deposit network for credit unions. Through ModernFi CUSO, credit unions of all sizes and designations can grow deposits and member relationships. The credit union ecosystem, driven by a shared mission to further the financial health of its members, has expanded rapidly over the past decade, and we look forward to watching and contributing to its future growth. The growth and success of the ecosystem is no coincidence; it is a reflection and a result of the deep care that each credit union has for its field of membership. It is an exciting time for the sector, and we at ModernFi CUSO are grateful to support and play a small role in every institution’s growth. Read more here: https://lnkd.in/e4G2fft4

We’re thrilled to announce the formation and funding of?ModernFi CUSO, a credit union service organization dedicated to scaling the first deposit network exclusively for credit unions. With lead funding from Curql Collective and Members Development Company (MDC) and participation from Canapi Ventures and Andreessen Horowitz, ModernFi CUSO ensures credit unions can continue to grow and thrive while having direct ownership in their foundational infrastructure. ModernFi CUSO reinforces our commitment to the credit union ethos of?“people helping people.”?By leveraging the network, credit unions can grow deposits, serve their members more effectively, and optimize their balance sheets. Nick Evens, President and CEO of Curql, noted,?“It levels the playing field for credit unions. Not only is ModernFi building the first full-service deposit network for the entire credit union industry, they’re also greatly expanding the audience of prospective business and consumer members that credit unions can serve.” Jeff Kline, CEO of MDC, added,?“Simply put, the ModernFi deposit network is transformative for the industry... and will allow credit unions to be more competitive, serve new members, and accelerate their missions.” Rodney E. Hood, former chairman of the NCUA and ModernFi board member, concluded, “ModernFi stands as the foremost company in the market with regard to liquidity.” Read more here: https://lnkd.in/eaSXXkdK Come join the mission at modernfi.com/cuso