NAPERVILLE, Ill.–Alloya Corporate FCU is marking its fifth anniversary.
"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."
Alloya noted that after two successful mergers with Central Corporate Credit Union (CenCorp, 2013) and System United Corporate FCU (SunCorp, 2015), it now 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 said it 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).
"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.
A video on the "The Alloya Story: 5 Years in the Making" can be found at www.alloyacorp.org/video_5year