True or false: a credit union with assets well under $200 million offers crypto currencies to members.
Meet Becky Reed, the now former CEO of Lone Star Credit Union – assets now around $165 million – and, yep, Lone Star offers crypto to its members. In the show, Reed tells why Lone Star made this decision – mainly because it saw a lot of member assets exiting the credit union to buy crypto elsewhere – and also how easy it was to do this for members.
Takeaway: no credit union is too small to explore offering crypto.
You probably know of Reed, she’s the chair of NACUSO, the trade group for CUSOs, and in this show, you will hear her passionate defense of CUSOs as part of what makes credit unions so special.
In the show Reed also explains why she left Lone Star and what she is doing now, namely helming BRaaS – Becky Reed as a Service – where she helps credit unions explore crypto, blockchain and a range of tech innovations.
This is an upbeat episode. If you worry about small credit unions you’ll find some real cheer here.