Alliant Credit Union
“Can a fully digital credit union grow deposits and loan volume by combining open banking infrastructure with curated lendtech partnerships, without physical branches?”
HQChicago, IL (11545 West Touhy Avenue, Chicago, IL 60666)
IndustryBank / Community
The story
Alliant Credit Union transitioned from a branch-based to a fully digital-only credit union in 2020, closing all physical locations. This pivot enabled the institution to invest in fintech and lendtech partnerships as a growth strategy, purchasing loans originated by digital lenders in categories such as solar energy, electric vehicles, and home equity. Alliant has leaned into open banking APIs (via Plaid) and modern digital banking infrastructure (Backbase) to cement itself as a digital-first, member-owned financial institution.
Last 12 months
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Product timeline
2020
Alliant closed all physical branches and transitioned to a fully digital-only credit union model.· pivot
2022
Alliant staffed up its lendtech partnership strategy, targeting $1 billion in third-party digital lender loan purchases (solar, EV, home equity) for the year.· lending
2023
Alliant's Commercial Team was named Lender of the Year at the 2023 Illinois RE Journal Awards and the Connect Media Lender of the Year.· lending
Regulated entities
1
regulatory licence held by Alliant Credit Union
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Alliant Credit Union’s embedded-finance stack
Card network
Lending
in the full report
Open banking
in the full report
Accounting gap: none
14 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.