What is ModernFi CUSO?

ModernFi CUSO helps credit unions of all sizes and designations grow deposits and member relationships. Through ModernFi's deposit network, credit unions can provide accounts with extended NCUA insurance* to attract large-value members including businesses, public funds, higher-net-worth individuals, and others. Credit unions can also leverage the ModernFi network to source funding on demand or sweep excess liquidity to manage their balance sheets.

Accounts with extended NCUA insurance*, which ModernFi calls Insured Sweep Accounts, are a valuable tool for credit unions to better serve existing large members and service new members that might otherwise bank elsewhere. Through the ModernFi deposit network, large balances in Insured Sweep Accounts are distributed across partner credit unions to ensure full insurance coverage while simplifying the process for your members, who maintain a single relationship with your credit union.

*Insurance provided by program credit unions (subject to certain conditions)