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Business Observer Friday, Jun. 10, 2022 2 months ago

Dunedin credit union launches bitcoin services for members

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Achieva Credit Union has partnered with cryptocurrency company NYDIG.

Thanks to a partnership with NYDIG, a cryptocurrency firm, Achieva Credit Union members can now make bitcoin transactions on the Dunedin-based financial institution’s mobile app.

In a news release about the deal, Achieva says it’s the first Florida credit union to provide cryptocurrency trading services to its members.  

“In the past year, we noted our members trading more than $2.6 million of cryptocurrency through popular trading platforms,” states Tracy Ingram, Achieva's chief digital and infrastructure officer, in the release. “It was clear that many members want to get involved with crypto, and we felt it was time to provide access to bitcoin from an institution they trust.”   

The bitcoin widget is accessible in the latest version of Achieva’s mobile app, which was launched on June 7. Users, according to the release, will be able to quickly see the current value of bitcoin, access their trading history and directly buy, sell or hold bitcoin through the NYDIG platform.

Education resources and customer service information will also be readily available for members in the app, the release states.

In a statement, Lou Grilli Sr., innovation strategist at PSCU, the nation’s largest credit union service organization, praised the move, saying, “Credit union members are looking for a safe, simple and convenient way to invest in crypto. They prefer to buy, sell and hold bitcoin through a trusted entity like Achieva.”

He adds, “This is a great example of a credit union eager to evolve by ensuring that members have access to emerging technologies while providing access to educational tools so members can make informed financial decisions.”

Prior to the launch of the updated app, the release states, Achieva employees trialed the bitcoin services. They were each given $10 to purchase bitcoin through the app, with NYDIG providing an additional $5 to every employee who signed up. During the three-week pilot program, Achieva team members purchased more than $2,500 of bitcoin.

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