The ModernFi CUSO network continues to grow, now serving 157 credit unions across 43 states and Washington, D.C. In September alone, 10 credit unions joined the network. The CUSO Corner is our regular briefing on what’s happening across the network: network snapshots, regulatory developments, success stories from partner credit unions, and the strategies shaping how credit unions compete for deposits. We look forward to welcoming additional credit unions into the network and featuring their work here in future editions.
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Five takeaways from credit union leaders on the ModernFi CUSO network
In our recent webinar, David Feldhaus, CFO of Ascend Federal Credit Union, and Dawn Lamb, VP of Operations at Commodore Perry Federal Credit Union, shared how their institutions use the ModernFi CUSO network to deepen member relationships, bring in net new funds, and manage liquidity.
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“There are complex members out there in need of this particular service.”
David Feldhaus, CFO, Ascend Federal Credit Union
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“It’s really not a rate product, it’s a relationship solution.”
Dawn Lamb, VP of Operations, Commodore Perry Federal Credit Union
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“We also brought in new members, people who were already familiar with Commodore Perry but didn’t realize we offered this type of product, and they brought their funds to us as a result.”
Dawn Lamb, VP of Operations, Commodore Perry Federal Credit Union
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“It’s a liquidity management tool first and foremost. Our ability to ingest dollars from the network, in a nonreciprocal fashion too, was attractive given that the more funding sources an institution has, the better off we are from a liquidity standpoint.”
David Feldhaus, CFO, Ascend Federal Credit Union
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“We wanted a partner, not just a vendor, and I feel we found that with ModernFi CUSO.”
Dawn Lamb, VP of Operations, Commodore Perry Federal Credit Union
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Network at a Glance
A snapshot of the ModernFi CUSO network across 43 states and Washington, D.C.
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157
Credit unions now live on the CUSO Deposit Network
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$18M–$20B
Asset size range of credit unions on the network
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43
States represented, plus Washington, D.C.
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Depositor Mix ($)
Share of deposit dollars across the ModernFi CUSO network by depositor type.
On the Road
Upcoming Events
Here’s where to find us this fall. If you’re attending the below, we’d love to connect.
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October 6–9
GoWest MAXX
Gaylord Rockies Resort & Convention Center, Aurora, CO
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October 13–16
Cornerstone Elevate
St. Louis Union Station Hotel, St. Louis, MO
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October 13–16
APEX 2026
Mohegan Sun, Uncasville, CT
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October 20–22
America’s Credit Unions CEO Council Conference
Renaissance Esmeralda Resort & Spa, Palm Springs, CA
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November 2–5
REACH 2026
JW Marriott Desert Springs Resort & Spa, Palm Desert, CA
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November 16–18
Curql: VentureTech
Omni Fort Worth Hotel, Fort Worth, TX
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About ModernFi CUSO
ModernFi CUSO is a credit union service organization built to help federally insured credit unions grow deposits, serve members with larger balances, and access reciprocal deposit networks that were previously unavailable to the credit union community. Working alongside credit unions as a partner, ModernFi CUSO helps institutions ranging from $18 million to $20 billion in total assets compete for business deposits, retain public entity funds, and deliver expanded coverage options to their members. Credit unions working with ModernFi CUSO span the country, serving members across communities of all sizes and asset ranges.
Insurance provided through program credit unions (subject to certain conditions). ModernFi, Inc., ModernFi Deposit Services LLC, and ModernFi CUSO LLC are not NCUA-insured credit unions. Deposit insurance covers the failure of an insured credit union, not ModernFi or ModernFi CUSO. Deposits are placed at insured network institutions and are eligible for pass-through insurance up to $250,000 per institution. Certain conditions must be satisfied for pass-through NCUA deposit insurance coverage to apply. A list of participating credit unions appears at https://www.modernfi.com/credit-union-list.