It used to be a hassle to convert money when dealing with complicated, digital-only exchanges. But here at United Financial Credit Union, we’re happy to offer you a simple solution. You can now easily purchase, sell, and hold crypto using our convenient online banking app.

Unlike digital-only cryptocurrency exchanges, United Financial Credit Union is a traditional, federally-regulated credit union staffed by member service professionals. We are a national credit union, so United Financial CU is held to higher standards than any of the crypto exchanges; giving you confidence that we will never do anything illicit with your crypto and have thoroughly vetted our third-party cryptocurrency partners.  Cryptocurrency assets are not deposits or shares in the Credit Union and are thus not insured by the NCUA.

You own your cryptocurrency. Being a credit union regulated by the federal government, we utilize an audited ledger to keep track of your crypto assets and monitor your account activities.

At United Financial CU, we will never use your digital assets for any purpose unless you give us specific instructions to do so. This means that your cryptocurrency funds will always be available to you.

What is a Crypto Custodian?

A financial custodian is a type of financial organization that holds assets and securities for investors. Utilizing a crypto custodian significantly reduces the risk of theft or loss of your digital assets. Rather than storing physical items like stocks, bonds, or cash, the custodian securely stores your cryptocurrency.

Why Consider Credit Union Crypto

When it comes to storing your crypto assets, there are many things to consider. It’s important to carefully consider what each provider offers before making a decision.

Our platform is a safe and reliable space for users to buy, sell, and hold different digital currencies. Users can feel safe knowing that their transactions are secure and their personal information is kept private.

No need to worry about downloading different apps or creating multiple accounts! You can access our all-in-one crypto platform right from United Financial Online and Mobile Banking platforms.

At United Financial, we are federally regulated by the NCUA. This means that we are held to a higher standard than most crypto exchanges. Cryptocurrency assets are still not deposits or shares in the Credit Union and are thus not insured by the NCUA.

When Choosing A Custodian

United Financial Credit Union only partners with qualified custodians which are typically federally or state-chartered banks or trust companies. There are numerous benefits to using a cryptocurrency custodian including increased security measures and additional features. Before choosing a custodian for your digital assets, make sure to evaluate your needs and what a potential custodian offers.

Remember to keep these in mind when choosing a custodian:

  • What crypto coins do they offer? Will they support new coins as they’re added to the market?
  • When accessing and holding your digital assets, do you prioritize speed or latency?
  • Is the provider licensed and audited?
  • How much are the fees and when are they charged?
  • Is the custodian insured?

Advantages of Cryptocurrency at a Credit Union

Some of the advantages of cryptocurrencies at a credit union are:

  • Offer a secure platform to buy, sell, and hold cryptocurrency
  • All-in-one platform in United Financial Credit Union Online & Mobile Banking
  • Empower our members to diversify their portfolios if they choose

Things to Keep In Mind

While cryptocurrencies have their benefits, there are also some negative aspects to consider. These include various issues, such as:

  • Crypto coins are volatile, unpredictable, and susceptible to market fluctuations and speculation.
  • Exchanging crypto requires technical knowledge and skills to use safely and effectively.
  • The United Financial Credit Union Crypto Portal won’t offer all types of crypto coins.

Digital assets (i.e. cryptocurrencies) held in your digital asset account (i.e. crypto account) are not federally insured by any government entities, including, but not limited to, NCUA. The digital assets offered may be heavily speculative and volatile; involve investment risk; may have associated fees; may not allow member recourse; and are being offered by a third party. Your digital account does not support wallet-to-wallet transferring of your digital assets (i.e. cryptocurrencies). You should carefully consider whether buying or holding digital assets is suitable for you in light of your financial condition. Digital assets are not obligations of United Financial Credit Union and are not guaranteed by United Financial Credit Union.