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Election 2024

Credit Union Trade Body NAFCU Joins Enterprise Ethereum Alliance

The National Association of Federally-Insured Credit Unions has become the latest member of the Enterprise Ethereum Alliance.

By Sujha Sundararajan
AccessTimeIconDec 8, 2017 at 11:00 a.m. UTC
Updated Aug 18, 2021 at 7:39 p.m. UTC
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The National Association of Federally-Insured Credit Unions (NAFCU), a U.S. trade organization, has become the latest member of the Enterprise Ethereum Alliance (EEA).

With the move, the body joins over 300 businesses that have already signed up to the consortium, pooling efforts to build enterprise-focused distributed ledger technology (DLT) that is compatible with the ethereum blockchain.

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    • NAFCU, which also joined the Hyperledger blockchain consortium in October, will see its cybersecurity and payments committee engaging with EEA members to discuss how credit unions can get more deeply involved with the blockchain ecosystem, according to a press release.

    NAFCU president and CEO Dan Berger stated:

    "With this new partnership, NAFCU hopes to bring critical knowledge of blockchain technology to the credit union industry and create an innovative environment where NAFCU members can inform technology firms of what credit unions need most."

    More than 50 companies have joined the EEA in the past three months, including Hewlett Packard, Australian Digital Commerce Association and Sberbank. More recently, oil and gas supply chain management platform PetroBLOQ became a member of the group on Monday.

    Plastic blocks image via Shutterstock

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