CUNA announced this week a transfer of Credit Union Financial Exchange (CUFX) to CU Ledger.
“CUFX is the result of a grass-roots initiative,” said Chris Saneda, past CUNA Technology Council chair, CUFX steering committee member and executive vice president and chief operations officer at Virginia CU. “It started with senior IT credit union executives who recognized a need for credit unions as they were trying to get their different systems to work together. The CUNA Technology Council leadership was instrumental in helping to get CUFX off the ground and continued to provide resources as it progressed into its position today. With the transition to CU Ledger, CUFX will get added support and continue to work with its users and CUNA Technology Council volunteers to assist with future improvements.”
CUFX continues to thrive and meet the necessities of its credit union users. The latest update, which went live this past fall, included the advancement to support non-unique account ID architectures. This newest advancement was driven and reviewed by three core system providers currently implementing CUFX.
“Since its inception, CUFX has been evolving to meet the needs of credit unions,” said David Rohn, vice president of CUNA Councils. “With its transition to CULedger and continued connection to credit union technology experts, we’re confident that this solution will continue to evolve, expand and assist credit unions.”
CU Ledger delivers a trusted peer-to-peer services network of verifiable exchange for financial cooperatives. Its solutions include MemberPass, a digital ID held by credit union members that protects credit unions and their members from identity theft and fraud in all banking interactions.
“CU Ledger is proud to incorporate CUFX into our product offerings for credit unions,” said John Ainsworth, President and CEO of CU Ledger. “This solution is already being utilized with other solutions within our portfolio, so we understand its value and support its continued advancements.”