GOLDEN, Colo.--(BUSINESS WIRE)--Sep 2, 2025--
On Tap Credit Union ®, a community-focused financial cooperative serving Coloradans since 1954, is proud to announce the recipients of its 2025 On Tap Scholarship Program. Two deserving students were each awarded a $2,000 scholarship to help support their educational goals for the upcoming school year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250825101125/en/
As part of its continued commitment to empowering future leaders, On Tap Credit Union created the annual scholarship program to recognize students who demonstrate academic excellence, leadership, and a passion for making a difference in their communities.
Chanda Kumar and Cindy Nguyen, both members of On Tap Credit Union, were selected from a pool of intellectual individuals, each bringing their own unique story of advocacy and improving the lives of others in their communities. These students embody the values of hard work, dedication, and a commitment to growth that On Tap Credit Union supports.
“We believe investing in the next generation is one of the most meaningful ways we can support our community,” said Tracie Wilcox, President and CEO at On Tap Credit Union. “These scholarships reflect our values of growth, opportunity, and helping others tap into their full potential.”
The scholarships are timed to support students and families as they gear up for the back-to-school season, a time when financial assistance can make a significant impact.
On Tap Credit Union continues to offer a variety of financial tools and educational resources for students and families, including free checking and savings accounts for kids and teens, youth CDs (Certificates of Deposit), and financial coaching services.
To learn more about the On Tap Scholarship Program or other ways the credit union supports local students, visit www.OnTapCU.org.
About On Tap Credit Union
Formerly known as Coors Credit Union, On Tap Credit Union is a full-service cooperative financial institution dedicated to serving individuals living and working in Jefferson, Denver, Boulder, and Larimer counties. Established in 1954, the credit union manages $391 million in assets and boasts a membership of approximately 20,000 individuals who are also owners of the organization. On Tap Credit Union offers personalized financial consultations and a wide range of financial solutions, including a host of consumer banking solutions from a robust deposit suite to vehicle, mortgage, and home equity loans, credit cards, insurance, investment accounts, and financial guidance. Additionally, the credit union provides a comprehensive array of business services, featuring a variety of commercial lending solutions. All of these products and services are delivered on an advanced online banking platform to ensure service anytime, anywhere.
Chanda Kumar, On Tap Credit Union 2025 Scholarship Winner.
Cindy Nguyen, On Tap Credit Union 2025 Scholarship Winner.
Moderator:
• Dr Eric Chee-hang Yip, Executive Director, Intermediaries Division, Securities and Futures Commission (“SFC”)
Speakers:
• Mr George Gaffney, Chief Operating Officer, Bullish Group
• Mr Christopher Hui, Secretary for Financial Services and the Treasury, the Government of the HKSAR
• Dr Hon Johnny Kit-chong Ng, Member of the Legislative Council of the HKSAR
Mr Christopher Hui
• On Traditional Finance (TradFi) and the rise of Defi, Chris Hui acknowledged that there will be eventual convergence between the two. He shared that “For the innovators, they now increasingly come to realize that they need applications for technology to be utilized and for the benefits to be seen. At the same time, the conventional banking financial market people also feel there’s pressure externally from their customers and internally for them to innovate. In terms of the conflict… it is easier to reconcile than before, as the two sides now know that they need each other.”
• On other jurisdictions’ dedicated regulatory approach towards digital assets, Chris Hui shared that Hong Kong considered taking a similar approach but foresaw “the convergence” between TradFi and DeFi, noting that “if you have a separate regulator which is detached from daily regulation of conventional market, synergy will be very difficult.” He noted that “in terms of leading implementation of digital asset-related initiatives…what we have done is to ensure that this convergence can happen at the same time, smoothly.”
Discussion highlights of the second day of panel discussions at GPS2026 Panel 3: The Good, the Bad and the Ugly in the Crypto World .
Dr Hon Johnny Kit-chong Ng
• Johnny Ng mentioned that jurisdictions like UAE and Korea are very active in trading digital assets and cryptos. He shared that “unlike the practice in Hong Kong, these places have dedicated? crypto or digital assets regulators. To attract talents and investors from all over the world to Hong Kong, we should learn from the good practices from other jurisdictions, and to take precautions against the unpredictable.”
• Eric Yip shared that "regulators have to balance between their contradictory mandates.Markets will always evolve faster than any regulator can promulgate new rules and regulations. Contradictions in the industry are: fast vs slow’ innovation versus traditions;TradFi versus crypto…. But, it seems that the conflicting concepts are converging." He asked Johnny Ng, "how Hong Kong should balance [these] conflicting forces."
• Johnny Ng advised that "regulators should use advanced technologies to combat against technological challenges - blockchain data are available online, and with the most critical risks being anti-money laundering (AML), know-your-customer (KYC). While Hong Kong is a small and open economy, we have to observe the regulatory requirements, both from Hong Kong and other parts of the world. Our government and also regulators should use state of the art technologies to tackle all these problems so that the industry can develop quickly but at the same time operates in a safe environment, hence balancing development and security."
Mr George Gaffney
• Regarding blockchain, George Gaffney emphasized that “the technology is publicly visible,” where “you can see every transaction that’s ever occurred. They can never be deleted. You can build things like KYC into the blockchain itself.” He noted that “we need more cross pollination [between] the regulators… and the businesses, we need more blockchain expertise… Blockchain doesn’t just apply to a single asset class, it applies to multiple asset classes… Hence, a way has to be worked out to simplify connections and communications of both sides.”
• When asked "what mistakes the industry should avoid at all costs," George Gaffney mentioned the "large hacks in the DeFi part of the [digital assets] ecosystem." He noted that "it was just basic security hygiene that was missing from the platforms," and added that "this is where regulators can add value very quickly. References should be made to practices in places like Hong Kong where can you have a layer of regulation across DeFi platforms, minimum standards that could give confidence in platforms that are more progressive than traditional centralized exchanges."
