The Linux Foundation started Hyperledger in December 2015. It is an open-source distributed ledger framework that helps users build and operate applications, platforms and hardware systems to support business transactions.

A distributed ledger is a digital record of ownership that does not include a central administrator or central location for stored data. Commonly associated with bitcoin, where the technology is used to track the exchange of virtual currency, distributed ledgers are finding their way into other business uses.

“Hyperledger has experienced tremendous growth and development over the past two years, and we are excited to welcome NAFCU as our first financial trade association member,” Hyperledger Executive Director Brian Behlendorf said. “We look forward to NAFCU contributing to our vibrant, active Hyperledger community and providing valuable insight to the credit union industry and how our technology can improve the way financial institutions communicate with one another.”

According to the release, NAFCU's Cybersecurity and Payments Committee and Hyperledger will discuss ways for credit unions to engage with the blockchain community.

This not the credit union industry's first foray into blockchain and distributed ledger technologies. In August, for example, CU Ledger, which began as a proof-of-concept project led by CUNA, the Mountain West Credit Union Association, the Best Innovation Group, credit union system partners and credit unions, announced the formation of CULedger, LLC. CULedger, LLC is a CUSO offering credit unions a way to participate in shared-ledger technology.