GBA & Maven Federal Credit Union Unit

Washington, DC, November 22, 2021 – (ACN Newswire) – The Maven Federal Credit Union, www.mavenfederal.org, announces the pre-launch of its Web 2.0 site, allowing all GBA members to join. Pre-launch involves keeping the website alive, launching a fundraising campaign, and signing up members.

The site is currently a Minimum Viable Product (MVP), allowing the website to be built with only the features necessary to satisfy early adopters. The final and complete set of features for the MTCU will be developed based on feedback from initial users of the product. Feedback is encouraged from ACS members, creating a sense of belonging among members through MTCU’s open feedback loop.

This GBA sponsored “bank” will be owned by its members. It can be upgraded by consensus to deposit funds and be used as a regenerative financial engine, fueling future needs or innovation.

Why join? How are these services different from others?

MFCU network customers will benefit from the following benefits:

1. Elimination of punitive overdraft fees
2. Removal of all predatory aspects of financial services
3. Digital assets stay in the hands of the people. (Main Street not Wall Street)
4. Members of the GBA can make loans and investments (Crowdfund) in the projects of the members of the GBA – The profits are given to the members of the GBA
5. Dividends earned by being a relay node or a participating node in the network
6. Account holders / members own the bank

The Maven Federal Credit Union (MFCU) and the Government Blockchain Association (GBA) work under the National Credit Union Administration (NCUA) and the Federal Credit Union Act (FCUA) to ensure that the MFCU complies with all relevant regulations, working together to simplify the complexities and punitive services prevalent in the banking industry.

The official charter will be received once the campaign is over and a Part 2 business case has been submitted to the NCUA. Operations are scheduled to begin in April 2022 according to the schedule on MFCU’s website mavenfederal.org.

Source: ACS

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