Transaction demonstrates ALIRO’s power to unlock post-origination liquidity and connect credit unions with high-quality consumer loan assets
LendKey, the pioneer of digital network lending, today announced that its ALIRO platform successfully facilitated a $20 million sale of home improvement loans from Center Parc Credit Union to Great Lakes Credit Union. The transaction represents a significant milestone in ALIRO’s capabilities across credit union balance sheet management.
A $20M participation can often take around eight weeks to go through, so making that happen in ten days was impressive.”
— John Anderson, Chief Lending Officer at Center Parc Credit Union
LendKey originally partnered with Center Parc Credit Union to originate the home improvement loans. Then, through ALIRO, LendKey created post-origination liquidity by facilitating the seamless transfer of these assets to Great Lakes Credit Union, giving Center Parc balance sheet flexibility while providing Great Lakes with access to high-quality consumer loan assets.
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“A $20M participation can often take around eight weeks to go through, so making that happen in ten days was impressive,” said John Anderson, chief lending officer at Center Parc Credit Union. “LendKey were able to handle 99% of the lift for us. It was really a hands-off process.”
Anderson’s CLO counterpart at Great Lakes Credit Union, Fred Campobasso, added: “It was important that the Center Parc loan assets offered high returns for our team. This transaction really checked all the boxes. It worked incredibly well. It was smooth, it was simple, and it was completed so quickly. I anticipate LendKey will be one of our go-tos [for loan participations] in the future.”
“These moments are exactly why we created ALIRO,” explains Vince Passione, Founder and CEO of LendKey. “Credit union collaboration makes the entire industry stronger, and we’re proud to facilitate strong partnerships through our purpose-built platform where credit unions can seamlessly buy and sell loans.”
This transaction is the latest example of how ALIRO is reshaping how credit unions manage their full lifecycle loan portfolios. By providing a trusted, technology-driven marketplace for loan sales and participations, ALIRO enables credit unions to deploy capital more efficiently, manage concentration risk, and build partnerships with other financial institutions – all while maintaining the people-first values that define the credit union movement.
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