Frankenmuth Credit Union offers first Michigan crypto platform
FRANKENMUTH, MI (November 1, 2023) — 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.”
About Frankenmuth Credit Union
Frankenmuth Credit Union was organized in 1964 by the employees of the Carling Brewery and Star of the West Milling Company to serve the brewers and millers of the Frankenmuth area. Frankenmuth Credit Union now proudly serves the entire state of Michigan - with over 68,000 members and branch locations in Bay, Genesee, Huron, Ogemaw, Saginaw, Shiawassee, and Tuscola counties. Frankenmuth Credit Union spotlights financial services as well as insurance, trust, and investment solutions, for both consumers and businesses.
About CryptoFi
CryptoFi is a Cryptocurrency-as-a-Service (CaaS) company building innovative technology solutions that expand access to digital assets. CryptoFi’s solutions bridge the gap between credit unions and digital assets. CryptoFi offers a seamless crypto trading and education interface for credit union members, as well as a robust set of management, data analytics, member engagement, and support tools. Our focus is on unlocking value for our credit unions through increased member acquisition and retention, as well as delivering a new stream of non-interest income.
