The Mountain West Credit Union Association (MWCUA) has finalized a strategic partnership agreement with CULedger to help jump-start the implementation of MemberPass™, a digital ID held by credit union members. MWCUA will help secure credit unions to participate in the Digital Trust Registry™, the registration component of the program. MWCUA currently serves 123 credit unions with 3.8 million members and $51 billion in assets in three states, Colorado, Arizona and Wyoming.
In MemberPass™, credit unions have a turnkey, affordable digital identity solution that will safeguard members’ personal information and provide a touch-free member experience across all channels. It is a simple and secure replacement for identity verification questions, like the member’s birthday or social security number, making members’ experience convenient and stress-free. It also presents an opportunity for your credit union to reduce identity theft by giving control and ownership of personal data back to your members allowing them the right to share information, how and where they choose.
“MemberPass™, from CULedger, creates for credit unions a contactless and secure environment that members now need and want in the face of the pandemic and other challenges,” said Scott Earl, President and CEO of the Mountain West Credit Union Association. “We are thrilled to help bring this incredibly valuable solution that provides a secure digital ID to members and protects credit unions from fraud, to market.”
The Digital Trust Registry™ allows credit unions access to the MemberPass™ technology. Credit unions receive their own public digital ID that is written to the Sovrin Global Identity Network (www.sovrin.org). Sovrin is a global distributed ledger (or blockchain) designed exclusively to support digital trust networks and verifiable digital credentials, which is why Sovrin is CULedger’s partner in building the MemberPass™ Trust Network. Once registered with the Digital Trust Registry, credit unions can issue MemberPass™ credentials to their members, and the enhanced security and privacy elements are activated.
MWCUA will join other partners in engaging credit unions in joining the Digital Trust Registry.
The unique privacy-first design creates a competitive advantage for credit unions by allowing members to have one single digital credential that is both portable and interoperable. CULedger’s long-term goal is to enable members to use their MemberPass™ identification to verify who they are with other highly regulated institutions, including in government and healthcare.
For more information about this program, please contact Lisa Slaymaker of Strategic Partners.