CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » Wyoming Business Report highlights CULedger
CU System

Wyoming Business Report highlights CULedger

November 1, 2017

An article in the October issue of Wyoming Business Report highlights the fraud prevention potential of CULedger, a credit union consortium supported by the efforts of CUNA and the Mountain West Credit Union Association (MWCUA). 

The article features comments from Rick Cranston, MWCUA vice president of innovation and member of the CULedger steering committee and Rudy Pereira, president/CEO, Premier America CU, Chatsworth, Calif., and chairman of the CULedger steering committee. 

CULedger began in 2016 as initiative between CUNA and MWCUA to develop a concept for a credit union system-wide permissioned distributed shared ledger platform. It has since grown with collaboration between CUNA, MWCUA, Best Innovation Group and other credit union system partners. 

CU Ledger has formed CULedger, LLC, a credit union service organization. 

The article highlights the fraud prevention potential of CU Ledger, a credit union industry initiative for developing innovative applications of distributed ledger technology. 

Cranston explained that CULedger is a shared a shared ledger technology that creates an online system through which multiple certified parties can securely exchange information and conduct transactions, with those exchanges certified by all the organizations participating in a permissioned network.  

“What we have created potentially is the technology that will allow for a near-instantaneous authentication … in a new, unique, incredibly fast way to fight fraud,” Cranston said. 

Pereira said CULedger is an opportunity for credit unions to be innovation leaders in the financial services space. “Getting involved now in CULedger and CULedger, LLC, will offer credit unions the ability to participate in shared-ledger technology that is on the path to reshape the credit union industry as a whole in years to come,” Pereira said. 

Last month, CULedger announced an agreement with Swirlds, creators of the hashgraph distributed consensus platform, whereby CULedger will use Swirlds’ hashgraph technology as a key component of CULedger’s permissioned, distributed, shared ledger platform for credit unions.

Credit Union Magazine: Summer 2023

Summer 2023

Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
Digital Edition •  Subscribe

Trending

  • CUNA, League, credit union-opposed interchange bill reintroduced

  • CUNA, Leagues issue action alert in opposition to interchange bill

  • CUNA urges Congress to oppose interchange legislation

Tweets by CUNA_News

Polls

Do you think ChatGPT will become useful for credit unions?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us