ModernFi Announces the Formation and Funding of ModernFi CUSO to Support Credit Union Deposit and Member Growth
With
funding led by Curql Collective and Members Development Company (MDC), ModernFi
CUSO is focused on supporting and scaling the first deposit network for credit
unions, ensuring credit unions can continue to grow and thrive while having
direct ownership in their foundational infrastructure
ModernFi, the leading technology provider of deposit management for financial institutions, is proud to announce the formation and funding of ModernFi CUSO, a credit union service organization (CUSO), to support and scale the first deposit network for credit unions.
As a CUSO, an entity partially owned by credit unions and exclusively serving credit unions, ModernFi CUSO reaffirms ModernFi’s commitment to support the credit union ecosystem and its ethos of people helping people. As the first deposit network for credit unions, ModernFi is dedicated to providing foundational infrastructure to credit unions, supporting their mission to serve new and existing members. Through ModernFi CUSO, credit unions can utilize a dedicated deposit network and reciprocal deposits for the first time, representing a major breakthrough for the sector.