NAPERVILLE, Ill.–Alloya Corporate FCU is reporting its Loan Participation Platform has now exceeded $3 billion in loan participation transactions.
Alloya reported that in 2021 the launch of its Loan Participation Platform “transformed what was once a time-consuming manual process into a centralized marketplace with fully automated transactions, quickly connecting buyers and sellers and reducing processing time from weeks to just days.”
“The success of our Loan Participation Platform is a testament to Alloya’s innovative spirit and commitment to members,” CEO Todd Adams said in a statement. “Motivated by our mission of supporting credit union success, we built this technology from the ground up with the credit union industry in mind.
“Today, a credit union that has developed expertise in its loan origination and servicing capabilities is now better positioned to leverage this strength and sell loans to credit unions of all sizes that are looking for good risk/return options,” Adams continued.
‘Scale and Sophistication’All
“Alloya’s platform is the only solution with this level of scale and sophistication that is owned by the credit union movement. Through Alloya, credit unions and CUSOs can access a streamlined, convenient loan participation solution created exclusively with their interest in mind.”
Added Andrew Kohl, CIO and president of Alloya Solutions, “We made a complicated process simple. Gone are the days of spending hours comparing options and weeks waiting for transactions to process. Now our members can buy and sell loan participations quickly and easily, supported by Alloya’s team of experts, who stand ready to provide trusted and reliable service along the way.”
Just One Facet
Kohl said the Loan Participation Platform is just one facet of what the corporate has to offer.
“The platform is a liquidity tool, an investment tool and a balance sheet management tool, but it’s only one example of the impact Alloya has on our member credit unions,” Kohl said. “We are able to provide many innovative solutions that simplify members’ lives, and the Loan Participation Platform complements our capabilities nicely.”
