![Southern Tier Based Credit Union to Offer Bitcoin Accounts](http://townsquare.media/site/499/files/2022/06/attachment-Sothern-Tier-Credit-Union-Bitcoin.jpg?w=980&q=75)
Southern Tier Based Credit Union to Offer Bitcoin Accounts
Per a report from Vince Briga of Spectrum News 1, Visions Federal Credit Union will become one of the first credit unions in the United States to offer Bitcoin accounts to customers.
![WNBF News Radio 1290 AM & 92.1 FM logo](https://townsquare.media/site/499/files/2021/12/attachment-512.jpg?w=100)
The digital currency has been viewed as unstable, particularly in recent months as its stock price has plummeted from over $60,000 per share to under $30,000. But many in the financial sector still believe in the potential of digital currency and other digital assets. Per Briga's report, thousands of Visions members had already signed up for a virtual wallet in just a few weeks.
Tom Novak, the vice president and chief digital officer of Visions Federal Credit Union, said "It's really groundbreaking because when we talk about financial institutions, and your credit union in particular, it's really about trust."
Novak also stressed the importance that having known and trusted institutions involved in digital currencies with regards to simply explaining it to customers, saying "That's something we want to do here with cryptocurrency and get ahead of so in 10 or 20 years, our members are not seeing this for the first time, or they're not having anyone to advocate on their behalf to let them know here's how you zig and here's how you zag in this new world of financial services."
Whether Bitcoin and similar digital currencies will truly revolutionize the financial industry as predicted or not has yet to be seen. But partnerships with established financial institutions may go a long way for customers in learning to trust these currencies and perhaps even provide some stability for them in the future.
15 Unique Upstate NY Airbnb's
Five Things New York and Philadelphia Have in Common
More From WNBF News Radio 1290 AM & 92.1 FM
![Southern Tier New York News Pass You By? Get A Recap Here](http://townsquare.media/site/499/files/2024/07/attachment-jonathan-velasquez-c1ZN57GfDB0-unsplash-4.jpg?w=980&q=75)
![New York State Senate Votes To Expand Fracking Ban To Include CO2 Injection](http://townsquare.media/site/499/files/2021/07/attachment-gas-drilling2.jpg?w=980&q=75)
![Binghamton Woman Accused of Trying to Rob Downtown Credit Union](http://townsquare.media/site/499/files/2024/03/attachment-2024.03.01-VFCU-F-e1709585612253.jpg?w=980&q=75)
![Broome County To Host Softball and Boys Basketball State Championships](http://townsquare.media/site/499/files/2024/02/attachment-Untitled-1600-x-1066-px.jpg?w=980&q=75)
![Free Movies/Free Parking For Summer Movie Series at Mirabito Stadium](http://townsquare.media/site/498/files/2022/11/attachment-rumble-ponies-credit-traci-taylor.jpg?w=980&q=75)
![Developer Scraps Plan for Court Street Redevelopment Project](http://townsquare.media/site/499/files/2023/02/attachment-2023.02.14-72-COURT-STREET-F-e1676404493825.jpg?w=980&q=75)
![New York Bill Would Allow Cryptocurrency Payments to State Agencies](http://townsquare.media/site/499/files/2023/01/attachment-andre-francois-mckenzie-iGYiBhdNTpE-unsplash.jpg?w=980&q=75)
![Greater Binghamton Sports Hall of Fame Forced to Leave Oakdale Commons](http://townsquare.media/site/499/files/2023/01/attachment-HOF-Feature.jpg?w=980&q=75)
![Have New Yorkers Already Given Up on Cryptocurrency?](http://townsquare.media/site/498/files/2022/06/attachment-art-rachen-sM4r-swmcoY-unsplash.jpg?w=980&q=75)