Alloya celebrates 5th anniversary
WARRENVILLE, IL (October 24, 2016) — Alloya Corporate FCU began its mission of providing exceptional service and value to its members on this date five years ago. On behalf of the 180 professionals at Alloya that work hard every day to support credit union success, we wanted to take this opportunity to thank our membership for their continued support.
“Five years ago 1,100 credit unions contributed $70 million in capital to found Alloya – the first new corporate credit union to be created in nearly 20 years,” said Todd Adams, Alloya’s Chief Executive Officer. “This support assured members would have a credit union owned and operated source for their liquidity needs, along with other vital services such as investments, payments, cash delivery and single-source settlement.”
Today, after two successful mergers with Central Corporate Credit Union (CenCorp, 2013) and System United Corporate FCU (SunCorp, 2015), Alloya serves 1,600 members across the nation. For the period ended June 30, 2015, Alloya recorded $5.4 million in net income. Total assets stood at $3.3 billion and members’ equity totaled $297 million as of June 30, 2016. The corporate is well ahead of current regulatory requirements with a total leverage (regulatory capital) ratio of 9.2% and a regulatory retained earnings ratio of 2.3% (regulatory requirement of 4.0% and 0.45%, respectively). All results unaudited.
“In just five years, members have received a 150% return in value on their invested capital – that truly is remarkable,” Adams noted. “Beyond our financial success, Alloya has not lost sight of service to members, scoring 4.7 out of 5 in overall member satisfaction for 3-consecutive years. We are very proud of our progress and look forward to continuing to deliver value to our members for the next five years and beyond,” concluded Adams.
For more information on Alloya’s history, view our 7-minute video presentation “The Alloya Story: 5 Years in the Making” at www.alloyacorp.org/video_5year.
Alloya provides critical cooperative services to over 1,600 member credit unions across all four U.S. Continental time zones, including investment, financial, lending and correspondent services. Headquartered in Warrenville, Illinois, Alloya offers a dependable and affordable line of credit, secure and efficient product access and settlement, and unparalleled member service to its members. To learn more, visit www.alloyacorp.org.