Credit unions have a competitive advantage over other financial institutions – their proven ability to cooperate and share ideas that ultimately result in an improved member experience. Volunteer Corporate Credit Union (VolCorp) and Alloya Corporate FCU (Alloya) collectively serve 1,850 members and represent good examples of credit unions working together.
Alloya, through its CUSO, Balance Sheet Solutions, LLC, is pleased to announce the launch of Premier Portfolio, a new service that allows credit unions to easily perform many of their daily investment activities through one secure on-line channel.
Strength in Numbers: How This Collaboration Came to Be – Alloya was looking to develop additional content for Premier View (its online transaction portal) that would allow credit unions to efficiently complete investment transactions and store related analysis and records. In the early exploratory process, Todd Adams, CEO of Alloya had a conversation with Jeff Merry, President/CEO of VolCorp about their proprietary technology, V-Portfolio, which offered everything Alloya was looking to provide. Instead of spending money to develop two separate technologies that essentially did the same thing, both corporates decided the best solution for credit unions was to work together – ultimately strengthening this online service for both organizations and the members they serve.
When asked about this collaborative partnership, both CEOs believe credit unions will realize even more value from their corporate relationship: “We are extremely proud of what we have developed in
V-Portfolio and, by working together, we are empowering an additional 1,500 credit unions with a powerful technology that will help simplify their daily operations,” said Merry. “The two corporates share a common mission to support credit union success. This new technology furthers that mission and credit union professionals will have more time to do what they do best – serve their members and their communities” added Adams.