Cryptocurrency is an opportunity for credit unions to distinguish themselves in the technology space, Patty Corkery, president/CEO of the League of Michigan Credit Unions wrote in CUInsight. Corkery said that while it's easy to feel out of touch with the latest developments, credit unions need to find their role when it comes to cryptocurrencies.
“From a credit union league perspective, our role is to provide our credit unions with education about the crypto space, as well as remove any barriers that prohibit credit unions from safely entering the crypto space. this space, whenever they have the desire," Corkery wrote, noting research shows that 25% of credit unions plan to offer crypto investment/trading by the end of 2023.
“Whether or not crypto is here to stay, I would like to see our credit unions get to a place where they safely explore their crypto options,” he wrote. “We often try to dispel the myth that credit unions are not tech savvy; What better way to distinguish ourselves as tech players than to offer crypto education from a financial advisor or survey investment options?
