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Sunday, February 26, 2017
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Welcome to CULedger

Welcome to CULedger

Welcome to CULedger
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Get Involved

Get Involved

Get Involved
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Pilot Program

Pilot Program

Pilot Program
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Technical Webinars

Technical Webinars

Technical Webinars

Get Involved!

Contribute to phase 1 of the CULedger Project. Click below to get started.

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CULedger Update

Thank you for your continued interest in CULedger, we wanted to update you on the progress made by the CULedger teams.

The Committees
There are currently three active CULedger Committees:

  • Executive Leadership – CULedger leadership members include CUNA, Desert Schools, CO-OP Financial Services, MWCUA, Best Innovation Group, CU Direct, Payments Services for Credit Unions (PSCU), and Card Services for Credit Unions (CSCU). Rudy Pereira, CEO of Royal CU in Wisconsin as well as the Board Chair for the National CEO Roundtable, chairs the Executive Leadership committee.
  • Application Selection Committee – Chaired by Tony Boutelle, CEO of CU Direct.
  • Network and Technology Committee – Chaired by David Arujo, CIO of Digital Credit Union.

CULedger membership currently includes more than 60 contributing organizations that include credit unions, CUSOs, selected 3rd party technology firms, and Associations from the domestic U.S., Canada and Europe. The largest participating credit union holds assets of approximately $20 Billion, and the smallest holds assets of around $50 Million.

Proof of Concept
This initial phase of CULedger is designed to be a “Research to Action” initiative focused on using proof of concepts (POCs) to identify, develop and test.

To that end, three have been identified.

  • Identity and Money Transactions – The goal of this POC is to begin to show the value of Distributed Ledger Technologies for Identity management and point to point credit union financial transactions. One of the features of this POC will utilize Distributed Ledger Technologies to execute contracts in seconds, not days. Much progress has occurred here, and demonstrations are now being scheduled.
  • Passwordless Login – The POC is divided into two phases, Planning (Phase 1) and Implementation (Phase 2). We are almost halfway done with Phase 1. Suncoast is the initial credit union selected to test the credit union home banking interface. Fraud continues to haunt our CUs, so excitement is building within the CULedger community to move this POC forward.
  • Card Not Present Fraud – PSCU, CSCU, and CO-OP, with the assistance of Best Innovation Group, are working on this third POC. Special thanks to Jim Yates, CEO of First Ed FCU in Cheyenne, for moving this concept forward. Jim also sits on the CULedger Executive Leadership Committee, as well.

The Budget:
At the moment, over 60 organizations that have contributed R&D money to the CULedger initiative. We are shooting for a budget of $1.5 million, and we have currently raised approximately half of that amount. Our current expenditures amount to less than $100K.

At the end of the Research and Development phase, the Executive Leadership Committee will make recommendations for a “go forward” strategy that includes entity and investment opportunities for the credit union industry.

The Committees

Steering

  • Rudy Pereira - Royal Credit Union
  • Bill Hampel - CUNA
  • Scott Earl - MWCUA
  • John Best - Best Innovation Group
  • Rick Cranston - MWCUA
  • Dean Young - PSCU
  • Caroline Willard - CO-OP
  • Kari Wilfong - CO-OP
  • Robert Hackney - CSCU
  • Dennis Tanimoto - Hawaii Credit Union League
  • James Nastars - Meritrust Credit Union
  • David Araujo - Digital Federal Credit Union
  • Marc Schaefer - Truliant Federal Credit Union
  • William Predmore - United Nations FCU
  • Mandy Jones - Oregon Community CU
  • John Lund - America First Credit Union
  • Scott Simpson - Utah Credit Union
  • Sterling Nielsen - Mountain America Credit Union
  • John Dwyer - New England FCU

Network

  • Jeff York - CoastHills Credit Union
  • Julie Kirsch - Meriwest Credit Union
  • Dean Young PSCU
  • Dave Mooney - Alliant Credit Union
  • Greg Troutner - ProFed Federal Credit Union
  • James Nastars - Meritrust Credit Union
  • David Araujo - Digital Federal Credit Union
  • Eric Ham - Midwest Financial Networks
  • Thomas Griffith - Pacific NW FCU
  • Mandy Jones - Oregon Community CU
  • Jeremey M. Sterner - Heritage Valley FCU
  • John Lund - America First Credit Union
  • Scott Simpson - Utah Credit Union Association
  • Sterling Nielsen - Mountain America Credit Union
  • John Dwyer - New England FCU
  • Kim Withers - Meridian Trust FCU
  • Keith A. Riddle - Corporate One

Applications

  • Jeff York - CoastHills Credit Union
  • Julie Kirsch - Meriwest Credit Union
  • Robert R. Hackney III - CSCU
  • Dean Young - PSCU
  • Dave Mooney - Alliant Credit Union
  • Greg Troutner - ProFed Federal Credit Union
  • James Nastars - Meritrust Credit Union
  • David Araujo - Digital Federal Credit Union
  • Cary J. Tonne - Affinity Plus FCU
  • Tyrone E. Muse II _ Visions FCU
  • Thomas Griffith - Pacific NW FCU
  • Jeremey M. Sterner - Heritage Valley FCU
  • Bruce Foulke - American Heritage
  • Jerry Clancy - Lone Star Credit Union
  • Sean M. Cahill - Southwest 66 CU
  • John Lund - America First Credit Union
  • Scott Simpson - Utah Credit Union Association
  • Sterling Nielsen - Mountain America Credit Union
  • John Dwyer - New England FCU
  • Todd H. Sipe - Thrivent FCU
  • Kim Withers - Meridian Trust FCU
  • Keith A. Riddle - Corporate One

ABOUT CULEDGER

What began as a cryptocurrency exchange may well become the system upon which the future of financial processes are built.

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