NEW YORK–ModernFi CUSO, which focuses on providing extended NCUSIF insurance through its deposit network, is reporting that credit unions within its network can now offer up to $15 million in deposit insurance per account.
“This substantial milestone, achieved rapidly through industry-wide collaboration, significantly enhances credit unions’ ability to attract and retain large-value members,” the CUSO said in a statement.
ModernFi CUSO said its deposit network is now supported by more than 65 partner credit unions nationwide.
“Reaching $15 million per account in NCUA insurance represents not only a critical milestone for ModernFi CUSO but also a testament to the cooperative spirit of the credit union industry,” Kelly Zullinger, VP of Institution Success at ModernFi CUSO, said in a statement. “This achievement reflects our partners’ strong commitment to innovation and collaboration, enabling credit unions to differentiate themselves, strengthen their competitive position, and deliver.
Deeper Reach
Added Marc Satterlee, VP of business services at Columbia Credit Union, Vancouver, Wash., in a statement, “Offering up to $15 million in NCUA insurance allows us to attract members who value security at a scale we previously couldn’t serve. This milestone helps us deepen our reach into business, municipal, and nonprofit communities, positioning us strongly for sustained growth.”
