IN THE KNOW
ISSUE 1 | WHAT IS CRYPTO & THE BLOCKCHAIN?
At St. Cloud Financial Credit Union, the Executive Team and Board of Directors are dedicated to actively listening to our valued members. As a not-for-profit financial cooperative, we have the unique advantage of being able to diversify our offerings to cater to the needs of a wide range of individuals, rather than just a select few. It is this spirit of attentiveness to our members that inspired us to launch our educational publication, "IN THE KNOW: Web3 Technology & The Digital Transformation of Money." Through our annual survey, we discovered that approximately one-fourth (20%) of respondents expressed a strong desire for more information on Digital Assets (Crypto), Blockchain, and Web3. These individuals either owned crypto, planned to invest, or wanted to learn more about the tokenized industry before investing. This demand for information from our members, coupled with the anticipated technological advancements over the next five years, reminded us of our responsibility to act as financial educators. Furthermore, the Board of Directors, in collaboration with the Executive Team, has formulated a Digital Asset Strategy to pave the way forward. Rooted in the needs and desires of our members, this strategy encompasses four key pillars: 1. Listen to our members 2. Educate members, staff, and the community 3. Safe Storage of Member Digital Assets (Coming Soon “CU – Digital Asset Vault”™) 4. Transactional capabilities for members to buy & sell Digital Assets We recognize that not all members may have an interest in learning about or engaging with the Blockchain and Digital Asset (Crypto) space, either currently or in the future, as we might anticipate. Just like with any other product or content we introduce. We understand and respect that individual preferences and interests may vary. However, considering the significant member interest in this area and the abundance of publications from esteemed financial authorities, such as the NCUA, in recent years, we believe it is our responsibility to offer impartial, fact-based education for the sole purpose of facilitating learning. We neither advocate for nor oppose blockchain, digital assets, or cryptocurrencies. Our objective is to equip our members with knowledge surrounding a subject that could potentially impact all of us to varying degrees as we progress forward. We are steadfast in our commitment to consistently serve our members and adapt to their needs, both in the present and the future. Since our inception, we have diligently managed our members' wealth and acted as a trusted custodian of their value as needed. Regardless of the size or scale of your assets, it is our duty to empower you in safeguarding the rewards of your hard work today and for years to come!
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