Southland Credit Union, a $1 billion credit union that offers its products and services to more than 60,000 members in Orange County and Los Angeles, has just launched a Bitcoin purchase option for its members.
As per the press release, the members of Southland Credit Union will be able to buy, sell, and hold Bitcoin in a secure digital asset account. This will be facilitated thanks to the fully integrated digital banking mobile app feature. This feature will offer quick and easy enrollment that will not contain any hidden fees while offering convenient funding for purchasing Bitcoin.
As part of a promotion and marketing strategy, Southland Credit Union decided that any Southland Member who enrolls with their new Bitcoin and cryptocurrency feature, before the 18th of October, will receive $5 worth of free Bitcoin.
Tom Lent, CEO and president of Southland stated:
After the successful launch of our enhanced digital banking services in 2021, Southland made a commitment to continue delivering cutting-edge technologies to our members.
Lent also elaborated that credit unions are in a great place to offer services and products such as these, while also stating that they can do so extremely safely. Head of Banking Solutions for NYDIG, Rahm McDaniel was optimistic about this cooperation as well.
McDaniel believes that this partnership is monumental for wider adoption of Bitcoin and is also a step in the direction of NYDIG’s vision of Bitcoin for all. McDaniel also highlighted the Southland Credit Union team:
NYDIG is thrilled to partner with the forward-thinking team at Southland.
As of now, this service will only allow users to operate with Bitcoin. Southland Credit Union has however stated that there is a chance of exploring ways to expand the offering also to other cryptocurrencies in the future.