April 27, 2022 — PSCU, the nation’s premier payments credit union service organization (CUSO), today announced the launch of a new cryptocurrency microsite. Targeted and specifically curated for credit unions, the site will serve as a continuously updated hub for information and educational resources on all things related to digital assets. The announcement was made in conjunction with PSCU’s Member Forum 2022, taking place this week in Las Vegas.
While credit unions cannot currently hold the value of cryptocurrency within their federally-insured deposits, the National Credit Union Administration (NCUA) has announced credit unions can partner with third-party cryptocurrency service providers to allow their members to buy, sell and hold digital assets under certain terms. The goal of PSCU’s new educational microsite is to help credit unions learn more and be prepared as member interest in cryptocurrency and other digital assets grows and the landscape evolves.
“There is no doubt cryptocurrency is a hot topic in today’s financial landscape, with many credit union members already active and others curious to learn more about it,” said Scott Young, vice president of Innovation & Design at PSCU. “Due to a lack of regulatory guidance until now, credit unions have held back from any involvement with cryptocurrency, the landscape is rapidly changing – making it the optimal time for credit unions to educate themselves. We are hopeful that credit unions can use this new resource to educate their staff and their members, evaluate associated risks and make informed decisions surrounding participation in this rapidly evolving payments technology.”
PSCU’s microsite will feature videos – including a downloadable educational video to share with credit union boards and staff – along with blogs, white papers and more from PSCU and other industry thought leaders. The site will also link to relevant updates and industry resources from groups like the NCUA, among others.
Credit unions can access PSCU’s cryptocurrency resources at pscu.com/crypto.