Insider Q&A: Lone Star Credit Union CEO on cryptocurrencies

By ALEXANDRA OLSON
AP Business Writer

NEW YORK (AP) — Credit unions have been dipping their toes into cryptocurrency over the past year. The timing largely coincided with the “crypto winter” that saw digital coins plunge in value and numerous exchanges and lenders collapse. But at the height of the crypto craze in late 2021, many credit unions saw their members buying cryptocurrency in significant numbers. Lone Star Credit Union, a small Dallas credit union with $163 million in assets, refers members interested in buying cryptocurrency to BankSocial, a non-custodial wallet provider, which gives buyers control over access to their assets. In an interview with The Associated Press, Lone Star Credit Union CEO Becky Reed says she is optimistic about crypto’s future and feels a non-custodial wallet was the safest option for members.