St. Cloud Credit Union becomes first to add Bitcoin to core ledger

A credit union initially established by postal employees in 1930 now holds actual Bitcoin in custody on behalf of its members. St. Cloud Financial Credit Union's chief executive, Jed Meyer, describes a patent-pending hybrid custody arrangement that grants each member individual Bitcoin ownership via a multisignature vault. Additionally, he details how the institution accumulated over 20 BTC under its care without active promotion.

Discussion topics:
St. Cloud Financial Credit Union's path to Bitcoin
Stablecoins, dollars, and Bitcoin as new money networks
Bitcoin ETF contrasted with credit union custody and the hybrid custody model
Bringing Main Street into Bitcoin with direct buy and sell
Minnesota custody law, NCUA exams, and the CLARITY Act
Over 20 Bitcoin in member vaults and Lightning plans
What it takes for a credit union to own Bitcoin
The Cloud Dollar stablecoin and the cooperative ownership model
How credit unions decide which digital assets to offer
Educating skeptics and why credit unions must own their rails

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