Credit unions form corporation to solve security problems

DENVER — A consortium of credit unions in the U.S. Mountain region are banding together to form a credit union service organization that uses technology to solve security problems facing financial institutions and their customers.

CULedger LLC is a corporate entity owned by the member credit unions. It will develop CULedger, a system using blockchain technology to help credit unions and members verify that they’re speaking to the person they mean to and not someone fraudulent. CULedger LLC is a partnership between the Credit Union National Association and Mountain West Credit Union Association, which covers Wyoming,…