Alliant Credit Union's office focused on modern mortgage lending solutions.
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.
In a striking development, Alliant Credit Union has reported a dramatic increase in first mortgage originations since the launch of its direct lending program more than two years ago. The impressive growth reflects a well-executed strategy aimed at providing better service to its members.
As of June 30, Alliant ranked as the ninth-largest credit union in the United States, boasting assets of approximately $20 billion and serving around 924,926 members mainly through digital channels. The credit union’s first mortgage activity has experienced explosive growth, jumping from $424.4 million in 2023 to an astounding $1.3 billion in 2024. The momentum continues, with Alliant originating nearly $988 million just in the first half of 2025. This figure represents a threefold increase compared to the same period in 2024 and a remarkable sixfold rise from $159.4 million in the first half of 2023. June 2025 was particularly noteworthy for Alliant, as the credit union closed $145.7 million in first mortgage originations, marking its largest monthly total ever.
The inception of the direct lending program occurred in 2022, reflecting Alliant’s focus on enhancing its lending capabilities. To spearhead this initiative, the organization appointed a new vice president of residential lending. By early 2023, the program officially kicked off, introducing a digital direct lending platform alongside a new loan origination system. This user-friendly platform has been crucial for replacing older systems that were already in need of modernization.
The program has also broadened product offerings, which now include FHA, VA, doctor loans, and construction loans. These additions cater to a wider audience and enhance homeownership opportunities for different demographics.
To support this growing operation, Alliant’s mortgage lending department has nearly doubled its personnel, hiring over 40 new employees, most of whom are focused on sales and operations. Many were brought in from external backgrounds, demonstrating a commitment to injecting fresh talent and expertise into the team.
A noteworthy aspect of the new direct lending strategy is its ability to reach non-members of Alliant, indicating a successful approach to expanding market share. Previously, the credit union’s mortgage lending strategy revolved around a national correspondent lending program but has now shifted towards establishing direct contacts with borrowers via referrals.
Alliant has made significant strides in developing a fully digital end-to-end mortgage application process, allowing potential borrowers to apply and pre-qualify through its website. This streamlined process not only improves the overall borrower experience but also speeds up the time required for loan approval and funding.
In terms of demographics, the average loan amount at Alliant in 2024 was reported at $517,630—up 14% from the previous year. However, the institution’s lending profile shows that only 9% of its loans were issued to borrowers with household incomes below 80% of their county’s median income. In contrast, other major credit unions have a slightly higher percentage of loans granted to borrowers in the same income bracket at 15%.
Despite the predominance of affluent members, Alliant has emphasized its commitment to serving lower-income individuals interested in home purchases. This is reflected in their diverse range of financial programs aimed at providing opportunities for first-time homebuyers. The organization recognizes the importance of creating pathways to homeownership, reinforcing its mission to serve all members, regardless of economic status.
The remarkable increase in Alliant’s first mortgage originations not only showcases the efficacy of its direct lending program but also situates it as an emerging leader in the mortgage lending space. Through strategic innovations and a commitment to community, Alliant Credit Union is poised for continual growth in the evolving landscape of home financing.
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