DALLAS—ALM First is reporting it served as a consultant for Oregon Community Credit Union when it became the first state-chartered credit union to issue auto asset-backed securities.
As CUToday.info reported, the transaction was 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, ALM First said.
https://www.cutoday.info/Fresh-Today/Oregon-Community-CU-Becomes-First-State-Chartered-CU-to-Issue-Asset-Backed-Securities
“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.”
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