ALM First, a strategic partner for depositories offering commission-free, fee-based advice, served as a consultant for Oregon Community Credit Union (OCCU, $3.2B, Eugene, OR) throughout their recent securitization process.
This is the credit union’s first asset-backed securities issuance and is only the fourth such securitization to be completed in the entire industry since the NCUA’s June 2017 Opinion Letter affirming credit unions could conduct securitizations. It marks the second time ALM First has served as an advisor on such a transaction.
“We assisted OCCU in gaining access to a broader investor market and profitably accessing liquidity,” said Travis Goodman, Principal of ALM First. “In our role as a trusted advisor, we help credit unions strategically navigate the securitization process, provide insights regarding where to price new loans for sale, and execute hedging strategies to lock in profit given the uncertain rate environment.”
“This securitization benefits members by building the financial strength of OCCU,” said Ron Neumann, OCCU president and CEO. “This strength allows us to serve more members and supports our ability to provide member benefits such as lower or eliminated fees, additional branches and service centers and enhanced technology such as digital banking and interactive teller machines.”