The Bank Slate


Frankenmuth CU forms CUSO to invest in fintechs

Frankenmuth Credit Union in Frankenmuth, Mich., has created a credit union service organization (CUSO) to evaluate investment opportunities in the fintech space.

The $1.2 billion-asset credit union said in a press release that CU Digital One will focus on blockchain and cryptocurrency, digital securities investment solutions and artificial intelligence.

“This CUSO is a natural extension of our commitment to providing our members with the best possible financial services, and we believe that CU Digital One will be a valuable resource for credit unions across the country,” Vickie Schmitzer, the credit union’s president and CEO, said in the release.

Joshua Herman, a former credit union regulator, was named the CUSO’s interim CEO. He previously served as a director at advisory firm Stategic Resource Management.

Leave a Reply

Your email address will not be published. Required fields are marked *