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Death of a Credit Union: Internet Archive FCU Voluntarily Liquidates

IAFCU founder Brewster Kahle explains how NCUA restrictions and the Bitcoin business played into his three-year-old CUs demise.

By Peter Strozniak | Updated on December 18, 2015

Brewster Kahle, a Dec. 2 speaker at the Future of Money and Technology Summit in San Francisco, stood behind a lectern in a crowded room and made a dramatic announcement about the credit union he founded.

Many wanted to hear what Kahle, an early technology pioneer who made the Internet consumer-friendly, had to say. He created the web’s first publishing system, called Wide Area Information Server, in 1989 and sold it to AOL. He also co-founded Alexa Internet, which helps catalog the web that was purchased by Amazon.com in 1999. The MIT computer science graduate also opened the Internet Archive in 1996, which preserves everything posted on the web – a digital library accessible to all.

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Peter Strozniak

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