CU Wallet, a collaborative credit union owned and directed mobile payments technology provider, Thursday announced that it has signed 65 credit unions representing more than seven million members since the company's launch nine months ago. 

"CU Wallet is leading the way for credit unions to be successful in the next chapter of mobile banking," Tim Smith, senior vice president and chief financial officer of Workers Credit Union, said in a statement. "This recent milestone further validates the value of collaboration in our industry and moves us closer to the critical mass required to take control of our future as it relates to mobile payments. The time has come to get off the sidelines before others start offering their technology to our members. CU Wallet gives credit unions a competitive advantage, equipping the industry with the necessary tools needed for long-term success."

CU Wallet claims to be the industry's first mobile payments initiative designed specifically for credit unions, by credit unions. Since the company's inception, CU Wallet has forged alliances with the credit union industry's leading core, online and mobile banking providers, ensuring ease of integration and seamless communication between member-facing channels, according to the announcement.