DENVER–The Mountain West Credit Union Association said it has finalized a strategic partnership agreement with CULedger to help “jump start” the implementation of MemberPass, a digital ID pioneered by CULedger that is held by credit union members.
The MWCUA, which represents credit unions in Arizona, Colorado and Wyoming, said it will help secure credit unions to participate in the Digital Trust Registry, the registration component of the program.
“In MemberPass, credit unions have a turnkey, affordable digital identity solution that will safeguard members’ personal information and provide a touch-free member experience across all channels,” the MWCUA said. “It is a simple and secure replacement for identity verification questions, like the member’s birthday or social security number, making members’ experience convenient and stress-free. It also presents an opportunity for your credit union to reduce identity theft by giving control and ownership of personal data back to your members allowing them the right to share information, how and where they choose.”
Access to Technology
According to the organization, the Digital Trust Registry allows credit unions access to the MemberPass technology. Credit unions receive their own public digital ID that is written to the Sovrin Global Identity Network. Sovrin is a global distributed ledger (or blockchain) designed exclusively to support digital trust networks and verifiable digital credentials, “which is why Sovrin is CULedger’s partner in building the MemberPass Trust Network. Once registered with the Digital Trust Registry, credit unions can issue MemberPass credentials to their members, and the enhanced security and privacy elements are activated,” the MWCUA said.
“MemberPass from CULedger creates for credit unions a contactless and secure environment that members now need and want in the face of the pandemic and other challenges,” said Scott Earl, president and CEO of the Mountain West Credit Union Association. “We are thrilled to help bring this incredibly valuable solution, that provides a secure digital ID to members and protects credit unions from fraud, to market.”