By Shay Lelonek / News Director

ST. CLOUD, Minn. — St. Cloud Financial Credit Union (SCFCU) has announced the launch of its CU-Digital Asset Vault.

The announcement was made on Monday, March 2, and the launch will make a new way for members to safely own and protect digital assets, according to a media release from SCFCU.

The Vault was designed as interest in digital assets began to grow. SCFCU designed it around what members value, including owning their own digital assets, talking to a real person, access for beneficiaries, and a carefully phased rollout.

The Vault is built on a “hybrid self-custody model,” which means members retain ownership of their assets while the credit union provides safeguards and oversight.

According to the media release, assets are not controlled by a third-party app or moved outside the credit union.

SCFCU is also rolling out the launch of the Vault in phases, starting with digital asset safekeeping and education. Additional aspects may be introduced over time.

Those interested in learning more can visit the SCFCU website or call and speak directly with an SCFCU team member.