Alliant Credit Union Achieves Record Growth in Mortgage Lending

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 Significant Growth in Mortgage Originations Following New Lending Program

Alliant Credit Union has reported an impressive surge in its first mortgage originations since the rollout of a new direct lending program that began in early 2023. As of June 30, the credit union, which stands as the ninth-largest in the country with approximately $20 billion in assets, has served nearly 925,000 members, primarily through digital platforms.

Transformative Direct Lending Strategy

The direct lending program, which aims to streamline the mortgage process, was conceived in 2022 and officially launched in 2023. The initiative represented a major shift from Alliant’s previous strategy, which focused on national correspondent lending. The new approach allows for more direct contact with borrowers through referrals, creating a fully digital application process that directs potential clients to the credit union’s website for application and pre-qualification.

Growth in Personnel and Product Offerings

As part of the program’s launch, Alliant nearly doubled its mortgage lending personnel, adding over 40 new employees, particularly in sales and operations roles. This workforce expansion has been essential in facilitating an increased capacity for handling applications and guiding clients through their mortgage journeys. The new direct lending program has also expanded Alliant’s product offerings to include FHA, VA, doctor loans, and construction loans, thereby providing a wider array of options for borrowers.

Impressive Financial Growth

The impact of this new strategy is evident in the numbers. In 2023, Alliant originated $424.4 million in first mortgages, but that figure ballooned to a staggering $1.3 billion in 2024. The momentum has continued into 2025, with $988 million in originations recorded during the first half of the year, which is triple the amount from the same period in 2024 and six times the total of $159.4 million from the first half of 2023.

June 2025 marked a high point for Alliant, as the credit union closed $145.7 million in first mortgage originations, making it their largest month ever for this type of lending.

Market Expansion and Member Services

Interestingly, a considerable portion of the originations on the new platform has come from individuals who are not Alliant members, signifying a successful expansion into the broader market. The previous method of lending primarily focused on existing members, but the direct program has opened avenues for new clients. This shift indicates a strong demand for mortgage services that cater to diverse needs.

Loan Trends and Community Commitment

Alliant’s average loan amount has seen an increase, reaching $517,630 in 2024, a rise of 14% from the previous year. However, only 9% of Alliant’s loans were issued to borrowers with household incomes below 80% of the median income in their respective counties, contrasting with 15% for other major credit unions. Despite predominantly catering to an affluent audience, Alliant remains committed to supporting lower-income members in their home-buying endeavors.

Focus on First-Time Homebuyers

As part of its value proposition, Alliant emphasizes the importance of offering opportunities to first-time homebuyers. By diversifying lending programs and creating a user-friendly digital platform, the credit union aims to make homeownership more accessible for a broader demographic.

Overall, Alliant Credit Union’s strategic pivot to a direct lending program has not only driven impressive financial growth but has also positioned them as a competitive player in the mortgage lending market. With ongoing efforts to support both new and existing members, Alliant continues to pursue a path that prioritizes homeownership accessibility.

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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