DUNEDIN, Fla.–Achieva Credit Union has become the latest to offer bitcoin services to its members. Approximately a half-dozen CUs are now offering the services to members.
Members of Achieva will be able to buy, sell and hold bitcoin directly through their mobile app. Similar to other credit unions, Achieva is offering the solution in partnership with New York-based NYDIG.
Dunedin-based Achieva Credit Union is adding a bitcoin exchange to its mobile app through a partnership with New York-based NYDIG, a fintech platform that partners with mainstream institutions from banks to insurance companies.
According to the credit union’s website, it is charging a 2% fee for any crypto currency purchased or sold.
Tracy Ingram, chief digital and infrastructure officer, told the Tampa Bay Business Journal that Achieva had noticed more of its members were becoming “crypto-curious.”
Credit Union’s Response
In response, the $2.4-billion CU began looking for a partner for crypto-related services after finding that members traded more than $2.6 million through popular cryptocurrency exchanges last year, Ingram further told the publication.
Ingram told the publication NYDIG’s infrastructure easily plugs into Achieva’s mobile app and has a user-friendly interface. Educational resources and customer service are also front and center in the app, which is important for new bitcoin investors who may be unaware of the risks associated with trading the notoriously volatile asset class, she noted.
“It was vital that our team learn how this new bitcoin functionality works so that they can answer questions for members,” Ingram told the Tampa Bay Business Journal.
Employees Buy Crypto
The credit union further reported Achieva employees purchased around $2,500 of bitcoin during a three-week pilot program before the launch of the updated app.
As CUToday.info has reported, other CUs offering crypto services to members include UNIFY Financial CU, Idaho Central CU, Stanford FCU, and Visions FCU.