ModernFi CUSO

We're excited to announce that Lookout Credit Union is the newest member of the ModernFi CUSO deposit network. Together, we're empowering credit unions to thrive in today's financial landscape. Welcome, Amy Ciciliot and the Lookout team!

The credit union industry continues to experience strong inorganic growth fueled by consolidation. While rapid growth arising from an acquisition is a natural and often desirable outcome, it also creates unique challenges and opportunities for merging institutions. In our latest insights, we expand on how credit unions can effectively manage post-consolidation balance sheets and leverage these newly acquired funds to offer innovative products to retain merged-in member deposits and diversify their offerings. Read more: https://lnkd.in/g4FZGu_N

Happy International Credit Union Day! The ModernFi CUSO team is grateful for all of our credit union partners whose tireless work has profound impacts on the lives of their members every day. Credit unions sit at the heart of more than 80,000 communities and currently serve more than 400,000,000 members worldwide. Their commitment to fostering widespread financial stability and inclusivity is a testament to the value of people helping people. Whether you’re a member or know someone who is, we all benefit from a strong credit union industry.

While rate-driven products have recently been an essential growth tool for financial institutions, the tides are changing. As rate-seeking opportunities dry up in the new falling rate environment, many institutions are reassessing their deposit strategies to attract stable and liquid deposits. Our latest insights expand on some of the non-rate strategies institutions are implementing to attract and retain high-value members while precisely managing their balance sheets in this new environment. Read more: https://lnkd.in/ewNJrAkm

Last week, ModernFi CUSO and Tru Treasury proudly hosted a conversation featuring insights from Adam DeVita, Chief Operating Officer at ModernFi, and Jeff Bassett, Head of Enterprise Solutions at Tru Treasury. Together, they delivered strategies, capabilities, and roadmaps on how credit unions can evolve to meet the demands of today’s business members. Central to this narrative is the power of ModernFi’s deposit network, which enables credit unions to offer millions in extended NCUA insurance* and bridges the gap with larger financial institutions. DeVita explained, "Businesses, particularly those managing large cash reserves, want to know that their funds are safe and secure, and extended insurance offers them the peace of mind they need." Missed the live event? Check out the recording for more strategic insights: https://lnkd.in/gjkFMyah * Insurance provided by program credit unions (subject to certain conditions)

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