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Company Announcement
ModernFi CUSO Sets New Industry Standard: Credit Unions Can Now Offer $15 Million in NCUA Insurance* per Account
This achievement demonstrates the rapid growth of the ModernFi CUSO network and reflects extensive collaboration across the credit union industry to provide unprecedented security and stability for its members.
June 3, 2025
NEW YORK--(BUSINESS WIRE)--ModernFi CUSO, the credit union service organization (CUSO) uniquely focused on providing extended NCUA insurance* through its deposit network, today announced a significant industry achievement: credit unions within the ModernFi CUSO network can now offer up to $15 million in NCUA insurance per account. This substantial milestone, achieved rapidly through industry-wide collaboration, significantly enhances credit unions' ability to attract and retain large-value members.
The accelerated growth of ModernFi CUSO’s deposit network, now supported by more than 65 partner credit unions nationwide, highlights the collective efforts of the credit union industry in meeting the evolving needs of their members. By increasing available insurance coverage, credit unions are better equipped to attract sizable, stable deposits from businesses, municipalities, nonprofits, and other high-value members seeking enhanced security.
“Reaching $15 million per account in NCUA insurance* represents not only a critical milestone for ModernFi CUSO but also a testament to the cooperative spirit of the credit union industry," said Kelly Zullinger, VP of Institution Success at ModernFi CUSO. "This achievement reflects our partners’ strong commitment to innovation and collaboration, enabling credit unions to differentiate themselves, strengthen their competitive position, and deliver exceptional value to their members."
With the increased insurance coverage, credit unions can confidently meet the needs of businesses, public funds, nonprofits, and high-net-worth individuals. This positions them to build deeper, more profitable member relationships and sustainably grow their deposit bases.
“Offering up to $15 million in NCUA insurance allows us to attract members who value security at a scale we previously couldn’t serve,” said Marc Satterlee, VP of Business Services at Columbia Credit Union. “This milestone helps us deepen our reach into business, municipal, and nonprofit communities, positioning us strongly for sustained growth.”
“Our partnership with ModernFi CUSO has consistently delivered meaningful value, enabling us to quickly adapt and offer innovative solutions to our members,” said Cole Watson, CFO at Hoosier Hills Credit Union. “We've been impressed with how rapidly ModernFi CUSO has grown its capabilities and the exceptional support they've provided along the way. Reaching this $15 million milestone highlights the significant benefits of our collaboration and shows the power of working together to elevate the entire credit union industry.”
To learn more about ModernFi CUSO and explore how your credit union can leverage extended NCUA insurance to accelerate deposit growth, please visit modernfi.com/cuso or contact contact@modernfi.com.
* Insurance coverage provided by participating credit unions (subject to certain eligibility conditions). ModernFi CUSO is not a financial institution, nor does it offer financial institution deposits, and its services are not guaranteed or insured by the NCUA.
About ModernFi CUSO
ModernFi CUSO empowers credit unions of all sizes to better serve their communities. Through ModernFi CUSO, credit unions can grow, retain, and manage their deposit base by sourcing deposits, sweeping funds, and providing additional security to depositors. Founded by a team of veterans from technology and finance, the firm provides financial institutions with end-to-end deposit management built on a modern tech stack and a foundation of compliance. Learn more at modernfi.com/cuso.
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