Crowdfunding is Coming to Credit Unions
A new SEC rule and Title III of the JOBS Act have created an opportunity for federally-insured credit unions to become “qualified third parties” for the maintenance and transmission of investor funds through crowdfunding sites. Credit unions would not hold a stake in the companies, but would supply the introduction of their members to businesses that need capital. While establishing crowd funding sites would not represent a significant revenue source, it could allow credit unions to become more involved in their local communities. [11/25/15]