Alloya Corporate FCU acquires QCash Financial and brings automated lending solutions to credit unions
NAPERVILLE, IL (April 17, 2023) — Alloya Corporate Federal Credit Union and Washington State Employees Credit Union (WSECU) have announced they are entering a strategic partnership under which, effective March 31, 2023, Alloya acquired QCash Financial, LLC. Since 2015, QCash Financial has offered tech-forward and inclusive lending solutions as a wholly-owned credit union service organization (CUSO) of WSECU. Moving forward, QCash will remain an independent, wholly-owned CUSO of Alloya.
“We are elated to be joining Alloya,” remarked Seth Brickman, CEO of QCash Financial. “QCash has seen exceptional growth in recent years, and Alloya is the optimal partner to protect and enhance the success of not only the CUSO, but also our credit union clients, who entrust QCash to deliver safe and equitable lending solutions for their members.”
QCash is a mission-driven fintech firm offering a relationship-based lending platform that empowers credit unions to improve the financial well-being of their communities by providing small-dollar loans to their members in 60 seconds without the use of a credit score. For members who do not qualify for traditional lending options, QCash can offer hope. The software-as-a-service (SaaS) application integrates with the credit union’s core processor, online banking and mobile banking platforms to reduce friction in the lending process.
“We are honored that QCash selected Alloya for this opportunity and we welcome the QCash team to the Alloya family,” reflected Todd Adams, CEO of Alloya. “As with any new partnership, shared values were a top consideration in this decision for both QCash and Alloya, and we have certainly found that alignment. Together, we are not only supporting credit union success, but also furthering an important mission to drive financial inclusion.”
As a credit union for credit unions, Alloya’s sole mission is to support credit union success through affordable and comprehensive products and services that will help each credit union gain strategic advantages in the marketplace while remaining safe, secure and relevant for generations to come. With a national membership spanning from coast to coast, Alloya simplifies the back-office lives of 1,400 credit unions.
“Where do your members turn when life happens? With QCash and Alloya, it can be your credit union,” Brickman concluded. “Together, we continue to make financial inclusion a reality.”
To learn more about QCash by Alloya, please visit www.alloyacorp.org/QCash and stay tuned for an announcement about an informational webinar coming soon.
About Alloya Corporate Federal Credit Union
Alloya provides cooperative financial services to 1,400-member credit unions and credit union entities nationally. Together, these member-owners wield aggregated power to access the products and services they need to gain a strategic advantage in the marketplace while simplifying their daily operations. Through its proprietary Premier View technology, credit unions can efficiently process payments, access liquidity or purchase investments from one convenient online location. This technology is supported by high standards of member service from a team of credit union professionals who view themselves as an extension of each credit union they serve. Visit www.alloyacorp.org to learn more.
About QCash Financial, LLC
QCash Financial, headquartered in Olympia, WA, is a fintech firm that is mission-driven to empower financial institutions in their quest to improve the financial well-being of their communities by providing loans to their members in under 60 seconds without the use of a credit score. The QCash platform is the best tool for advancing financial inclusion and access for credit union members. Visit www.qcashfinancial.com to learn more.