CLINTON, Conn.–The Credit Union League of Connecticut said it is partnering with CUCollaborate to help credit unions obtain and maintain their certification as a community development financial institution through Aluvy, a league-owned loan participation platform.
“This innovative collaboration is designed to help credit unions enhance their community impact by facilitating participations of CDFI-eligible loans,” the league said.
According to the CULCT, the offering works this way:
- One-Click Loan Eligibility Verification. Credit unions can use the CU Collaborate’s CDFI Analyzer to verify eligibility with a single click. “This feature allows credit unions to quickly assess whether a loan meets certain eligibility criteria and automatically create pools of CDFI-eligible loans,” the league said.
- Nationwide Marketplace Listing: Aluvy provides credit unions with a nationwide marketplace to list their loan participations. “This exposure increases visibility and allows credit unions to connect with others interested in participating in loans.”
- Intuitive Management Tools. “Credit unions can use Aluvy to track their sold and purchased participations, monitor performance, and seamlessly manage payments—all within one intuitive platform,” the league said.
‘Meaningful Impact’
“We’re thrilled to partner with CUCollaborate to bring Aluvy to credit unions nationwide,” Bruce Adams, president and CEO of the Credit Union League of Connecticut, said in a statement. “This program aligns perfectly with our mission to strengthen communities through cooperative financial services. By participating in loans through Aluvy, credit unions can make a meaningful impact and gain new tools to manage liquidity.”
Added CUCollaborate Founder and CEO Sam Brownell in a statement, “Our goal is to empower credit unions with the tools they need to thrive. With Aluvy, credit unions can collaborate, grow their portfolios, and drive positive change.”
The organizations said they will host a webinar on the new offering on June 20. For info: www.aluvy.com.