News Summary
Alliant Credit Union has experienced a remarkable increase in first mortgage originations, driven by its new direct lending program. With a significant uptick in loans originating from non-members, the credit union has solidified its approach to expand its mortgage production and cater to a wider audience. Strategic hiring and a focus on technology have transformed its lending capabilities, promoting inclusivity for diverse borrowing needs and enhancing opportunities for first-time homebuyers.
Alliant Credit Union Sees Record Surge in First Mortgage Originations
Alliant Credit Union has reported an impressive rise in first mortgage originations, highlighting the success of its recently launched direct lending program. Since the program kicked off in early 2023, Alliant has seen its mortgage lending figures soar to new heights, prompting a strategic shift that promises to change the landscape of the institution.
Growth in Mortgage Lending
As of June 30, Alliant has risen to become the ninth-largest credit union in the United States, boasting $20 billion in assets and catering to approximately 924,926 members, primarily through digital channels. With a clear objective of increasing its mortgage lending capabilities, the credit union’s mortgage lending department has experienced tremendous growth, nearly doubling in size with over 40 new employees, many filling sales and operations roles.
The direct lending program concept was formulated in 2022, which initiated the hiring of a vice president for residential lending later that year. This strategic move paved the way for the establishment of a digital direct lending platform and a new loan origination system that supports a range of conventional loans, including FHA, VA, doctor loans, and construction loans.
Staggering Numbers
In just one year, Alliant’s mortgage lending surged dramatically. In 2023, the credit union originated $424.4 million in first mortgages; this figure nearly tripled in 2024 to $1.3 billion. Furthermore, data from the first half of 2025 reveals that Alliant has produced $988 million in first mortgage originations, marking a threefold increase compared to the same period last year and a substantial jump from the $159.4 million recorded in early 2023.
June 2025 proved to be a landmark month for Alliant, as the credit union closed $145.7 million in first mortgage originations, setting a record for the highest monthly production in this category.
Market Expansion and Strategic Changes
One of the most notable aspects of Alliant’s increased production is that a significant portion of these originations came from non-members, demonstrating the credit union’s successful expansion into new markets. This shift marks a departure from its previous mortgage strategy, which primarily involved working through a national correspondent lending program. The new approach focuses more on direct communication with borrowers, facilitated by an end-to-end mortgage application process that allows for referrals to be funneled directly to Alliant’s website for seamless application and pre-qualification.
Inclusivity and Opportunity
Despite its focus on serving affluent members, Alliant has made a commitment to assist lower-income individuals in home purchasing through a range of diverse programs. The credit union’s Home Mortgage Disclosure Act data indicates that the average loan amount was $517,630 in 2024, signifying a 14% increase from the previous year. However, it’s notable that only 9% of loans were issued to borrowers with household incomes below 80% of the area median income, a lower percentage compared to 15% for other major credit unions.
Recognizing the unique challenges faced by first-time homebuyers, Alliant aims to enhance its offerings to provide better opportunities for this demographic. The integration of a fully digital application process and a customer-centric approach positions Alliant favorably in the competitive mortgage lending market.
Future Outlook
The solid performance seen in 2024 and early 2025 underscores Alliant’s successful move towards its newly-structured mortgage lending strategy. As it continues to innovate and expand its offerings, Alliant looks poised to further solidify its position within the credit union sector, maintaining a commitment to inclusive practices while catering to a diverse range of borrowing needs.
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Additional Resources
- Credit Union Times
- Wikipedia: Credit Union
- Built In
- Google Search: Alliant Credit Union
- Crain’s Chicago Business
- Google Scholar: Alliant Credit Union mortgage
- Fintech Futures
- Encyclopedia Britannica: Credit Union
- U.S. News
- Google News: Alliant Credit Union mortgage growth
Author: Construction FL News
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