MADISON, WI (April 30, 2018) — The World Council of Credit Unions Board of Directors unanimously approved the membership application for CULedger in the first quarter of 2018.
“We are pleased to welcome CULedger to our membership base, encourage their active participation to expand services provided to members and strengthen the global credit union movement,” said World Council President and CEO Brian Branch.
CULedger, a young, US-based credit union service organization (CUSO) founded by CUNA Strategic Services and Credit Union Strategic Partners and with coordination from CUNA, Mountain West CU Association and Best Innovation Group, was formed to provide blockchain services to credit unions. CULedger successfully demonstrated a working proof of concept around a decentralized digital identification for call center authentication. CULedger has established relationships with Evernym, Sovrin Foundation and Swirlds to ensure international interoperability with other digital identity systems.
CULedger seeks to provide blockchain, identity and digital services to credit unions around the world.
“We’re honored to join World Council and are very passionate about their mission. We believe we’re uniquely positioned to help cooperatives stay relevant in the digital ecosystem and look forward to supporting them and their membership,” said John Ainsworth, President/CEO of CULedger.
CULedger joins an international community of credit union-owned businesses which participate in the World Council system to extend services and exchange best practices across borders. CULedger will participate in World Council’s Annual General Meeting and the World Credit Union Conference (WCUC) to share updates on blockchain applications with the international membership.
World Council of Credit Unions is the global trade association and development platform for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach. World Council has implemented 300+ technical assistance programs in 89 countries. Worldwide, 85,400 credit unions in 118 countries serve 274 million people. Learn more about World Council's impact around the world at www.woccu.org.
CULedger is a credit union service organization, primarily owned by credit unions, that focuses on delivering innovative applications on a global distributed ledger platform for credit unions. In working through a national consortium of thirteen credit unions and trusted industry investors, CULedger has recently announced new developments around a global self-sovereign digital identity that will be market leading and further enhance the trust credit unions have with their members. CULedger will benefit credit unions and their members by reducing risks associated with cybersecurity and fraud, improving member experience and cutting costs. For more information, visit culedger.com.