Frankenmuth Credit Union (FCU) has taken a monumental step forward by becoming the first financial institution in Michigan to offer cryptocurrency services to its members. This achievement is possible through a partnership with CryptoFi, a CU Digital One company. FCU members are now able to engage with industry leading digital assets through CryptoFi’s cryptocurrency trading platform - now accessible through both the Frankenmuth Credit Union consumer mobile app and online banking.
Frankenmuth Credit Union launched its new credit union service organization (CUSO) – CU Digital One – in August. CU Digital One exists to provide cutting edge financial technology to credit unions – enabling them to provide members with the latest financial products and services. In pursuit of this commitment, CU Digital One made its first major investment by acquiring a financial stake in CryptoFi, a provider of cryptocurrency-based financial services for credit unions. That investment has now paid off, as Frankenmuth Credit Union trailblazes the path forward for Michigan credit unions into the crypto space.
“Frankenmuth Credit Union is committed to ensuring our members have every chance to achieve financial success. This means keeping up with new technology, such as developments in AI and automation, and capitalizing on opportunities to deliver innovative products and services. We are excited that FCU members now have a safe and convenient way to buy, sell, and manage cryptocurrency from a trusted source, courtesy of their hometown financial institution,” stated Vickie Schmitzer – CEO of Frankenmuth Credit Union.
"Our partnership with Frankenmuth Credit Union signifies our commitment to helping credit unions deliver in-demand and innovative solutions to their members,” said Kian Sarreshteh, CEO of CryptoFi. “Together, we are creating a future of seamless and secure crypto transactions, empowering members to begin building a successful financial future."