The first deposit network
for credit unions
Reciprocal deposits have become foundational for financial institutions. ModernFi CUSO brings that same infrastructure to credit unions: millions in aggregate share insurance* for members through network institutions, with the entire relationship kept at the home credit union.
130+ credit unions on the network,
from $18M to $20B in assets
* ModernFi is not a credit union and does not accept deposits; NCUA share insurance covers the failure of an insured credit union, not ModernFi. Funds placed through the network are deposited at program credit unions and are eligible for pass-through NCUA share insurance, subject to certain conditions. A list identifying ModernFi CUSO network credit unions can be found here.
Regulatory clarity
Reciprocal deposits, now permissible for credit unions
In March 2026, the NCUA published its Brokered and Reciprocal Deposits FAQ, acknowledging for the first time that reciprocal deposits are permissible for federally insured credit unions, as long as the program is conducted safely and soundly. ModernFi CUSO has operated with credit-union ownership and oversight since 2024.
As a former safety and soundness regulator, what ModernFi CUSO is doing is bringing credit unions another tool to add to the strength, safety, and vitality of the credit union ecosystem.
For the first time, credit unions have formal regulatory clarity confirming what we have always believed: reciprocal deposit networks belong in the credit union ecosystem.
Owned by credit unions
The network is owned by the credit unions on it
Alignment
ModernFi CUSO is a credit union service organization, formed by a group of leading credit unions to build and scale the first deposit network for credit unions. Ten credit unions hold direct ownership stakes, alongside the fund partners MDC and Curql.
Ecosystem
Reciprocal deposits move between federally insured credit unions. Every dollar placed out funds another credit union on the network.
By the numbers
The results, two years in
ModernFi CUSO brought the first reciprocal deposit network to credit unions in 2024. Two years on, the figures span the network: credit unions of every size and designation, from community institutions to $20 billion in assets.
Aggregate NCUA share insurance available to a single member through program credit unions.
Average annual growth in commercial and nonprofit deposits across member credit unions.
Average annual growth in municipal and public-entity deposits.
Average deposit growth per branch through network accounts.
Growth figures from the ModernFi CUSO board update, spanning member credit unions through Q1 2026. Insurance available per member depends on member type, balance, and network capacity. Pass-through NCUA share insurance is subject to the conditions noted below*.
How it works
One account, one statement,
millions in aggregate insurance*
A member opens a network account at their credit union. ModernFi CUSO handles placement, matching, settlement, and reporting behind a single statement.
- 01
A member opens a network account
The member signs one disclosure. The full balance, whether $1M, $10M, or $20M, sits in a single demand account at the credit union.
- 02
Funds are placed across the network in $250K increments
Balances are placed across network credit unions in allocations under the per-institution NCUA limit, so every dollar is eligible for pass-through share insurance*.
- 03
Matching deposits come back to your balance sheet
For every dollar placed out, a matching dollar returns from another credit union on the network. The institution retains the relationship, the lending capacity, and the deposit balance.
Member segments
Where reciprocal deposits drive the most growth
The network account* closes a structural gap for any member with a balance above the standard $250,000 NCUA limit. The segments where that gap is widest are also the fastest growing on the network.
Commercial
Operating, reserve, and payroll balances a treasurer has a fiduciary duty to protect. One network account holds the balance, the payment activity, and the lending relationship together. Commercial balances on the network grow 22% a year.
Typical relationship
Of network deposits
Public funds
Municipalities must secure public deposits, historically by pledging collateral. The network account meets the requirement without encumbering the balance sheet, so credit unions win mandates without leading on rate. Public-funds balances have grown 101% year over year.
Typical relationship
Of network deposits
Nonprofits
Foundations, endowments, and nonprofits whose board policies or grant terms require fully insured cash. The funds stay at the local credit union rather than moving to a national bank, and grow alongside commercial at 22% a year.
Typical relationship
Of network deposits
Private wealth
Members above the NCUA limit otherwise scatter funds across institutions or move them away entirely. A single network account consolidates the relationship at the home credit union, on safety rather than rate.
Typical relationship
Of network deposits
Typical relationship balances and share of network deposits from the ModernFi whitepaper, April 2026; illustrative. Growth rates measured across member credit unions through Q1 2026.
Institution Success
White-glove support,
in your credit union’s name
Every credit union is paired with a Regional Director who leads onboarding and training, builds the member-facing assets in your brand, and runs the growth plan with your team. Institution success is at the heart of the CUSO.
- 01
A Regional Director, by name.
Each credit union is paired with a Regional Director who knows your core, your field of membership, and your goals. They lead staff training, run the launch, and own the growth plan alongside your team.
- 02
Member assets in your brand.
Member guides, public-funds explainers, frontline scripts, email sequences, and landing-page blocks, built in your credit union's brand rather than ours. Ready before your program goes live.
- 03
Prospect intelligence and co-marketing.
Our analysis surfaces the businesses, municipalities, and large-balance members in your field of membership. Growth dashboards track every conversation through to placement.
ModernFi CUSO gave us everything we needed from training videos, marketing flyers, and conversation starters. It was all clear, easy to use, and backed by support whenever I needed it.
Millions in aggregate insurance*
Network Account
What this means for you
Aggregate insurance
One relationship
Full transparency
Network Account
How your insurance works
Sample assets · Anonymized · Each credit union’s own brand
Ownership
Owned by credit unions.
ModernFi CUSO is a credit union service organization. Ten leading credit unions hold direct ownership stakes, alongside the industry fund partners MDC and Curql. Capital from credit unions, deployed for credit unions.
ConsortiumCollectiveFederal CUFederal CUCorporate FCUCredit UnionCredit UnionCredit UnionCredit UnionFederal CUCredit UnionCredit UnionMDC
A research and development consortium of 80+ credit unions that jointly evaluates and underwrites strategic infrastructure for the industry.
Curql
A collective of 120+ credit unions investing in fintech for the credit union industry. ModernFi CUSO was the first company funded by Curql Fund II.
Success stories
How credit unions use the network
Four member institutions, four distinct deposit problems. Every figure below is drawn from a published ModernFi CUSO success story.
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On the record
What credit union leaders are saying
Owners, CFOs, and member credit unions on what reciprocal deposits change for the industry.
Federal insurance is the gold standard. When the rubber meets the road for multi-million dollar balances, federal insurance really cannot be beat. The carrot is the extended NCUA insurance, and that is what gives you core deposit growth.
How do we differentiate ourselves from the largest institutions? ModernFi CUSO is one way to do that. It lets us optimize and deepen our member relationships while reducing cost of funds.
ModernFi CUSO provided a platform for us to own the full deposits relationships with organizations whose mission align with ours. We're grateful for the partnership and support in serving large members that were previously out of reach.
ModernFi CUSO went above and beyond in coming up with different solutions and alternatives. The partnership aspect really stood out from day one.
ModernFi CUSO allowed us to insure more per member, tap into a larger network, and offered a much more user-friendly, collaborative experience.
ModernFi CUSO gave us a simple, credible 'yes' for municipalities that was fully insured, immediately liquid, and still locally served. That conversation used to take months. Now we can close in the same meeting.
Join the network
Start growing with ModernFi
Get in touch to learn how the ModernFi team can help your institution grow deposits, deepen relationships, and scale revenue.
Disclosures
* ModernFi, Inc., together with its subsidiaries and affiliates, including ModernFi Deposit Services LLC and ModernFi CUSO LLC (collectively, “ModernFi”), are not credit unions. ModernFi does not accept deposits, and NCUA share insurance covers the failure of an insured credit union, not ModernFi.
Funds placed through the ModernFi CUSO network are deposited at program credit unions and are eligible for pass-through NCUA share insurance. The standard maximum share insurance amount is $250,000 per member, per federally insured credit union, per ownership category. For pass-through insurance to apply, certain conditions must be satisfied, including that the member qualifies for membership at each receiving credit union under its field-of-membership requirements.
For a period before placement settles, balances may exceed the amount eligible for pass-through share insurance. A list of participating credit unions appears at modernfi.com/credit-union-list. For more information about NCUA share insurance, visit ncua.gov.