Press
SunCorp members vote “yes” to merger with Alloya Corporate
WESTMINSTER, CO and WARRENVILLE, IL (February 19, 2015) — The members of System United Corporate Federal Credit Union (SunCorp) voted overwhelmingly in favor of the proposed merger with Alloya Corporate Federal Credit Union (Alloya). The effective date of the merger is February 28, 2015.
The combined Corporate will provide investment, financial, lending, and correspondent services to more than 1,600 member credit unions throughout the United States. Alloya will retain approximately half of SunCorp’s employees. SunCorp members are expected to convert to Alloya’s secure transaction portal, Premier View, in May, 2015.
“This merger adds 206 members to Alloya’s current membership, plus additional scale,” noted Tom Graham, President and CEO of SunCorp. “SunCorp members gain continued access to an owned financial cooperative for wholesale services with increased scale, additional services and greater financial strength. Members will continue to receive great service from staff they know,” added Graham.
“This partnership with SunCorp adds several strategic benefits for members. Beyond additional scale, revenue growth and enhanced value, this merger opens a doorway to western markets for Alloya,” said Todd Adams, Alloya’s President and CEO. “By maintaining a local presence in Colorado, Alloya adds experienced and dedicated staff as well as member service access in all four U.S. continental time zones,” continued Adams.
About SunCorp
SunCorp is System United Corporate Federal Credit Union, a full-service financial cooperative serving credit unions, CUSOs, and credit union associations throughout the Western States. SunCorp provides payment services, free lines-of-credit, and investments delivered with superior member service and the benefits of cooperative ownership and pricing. For more information, please visit www.suncorp.coop.
About Alloya Corporate FCU
Alloya provides critical cooperative services to nearly 1,500 member credit unions in ten core states and beyond, 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.