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 Mortgage Originations Soar with New Direct Lending Program

Alliant Credit Union has witnessed a dramatic surge in first mortgage originations following the launch of its direct lending program. This transformational initiative, which was introduced earlier this year, has substantially boosted the credit union’s mortgage lending capabilities and extended its reach into the market.

By June 30, Alliant had climbed to become the ninth-largest credit union in the U.S., boasting assets of approximately $20 billion and serving nearly 925,000 members through its efficient digital channels. The direct lending program is a key component of Alliant’s broader strategy to enhance its mortgage services and engage potential borrowers directly.

Initiation of the Direct Lending Program

The concept of the direct lending initiative was first conceived in 2022, ultimately leading to substantial changes within the organization. In September 2022, Alliant welcomed a new vice president of residential lending, who set the stage for the launch of the program in early 2023. This move was supported by the implementation of a new digital direct lending platform, designed to streamline the loan origination process.

The new program has expanded Alliant’s range of mortgage products, including FHA and VA loans, as well as specialized offerings for medical professionals and construction loans. This diversification aims to cater to a wider range of customer needs, particularly first-time homebuyers.

Staff Expansion and Performance Growth

As part of the direct lending program, Alliant’s mortgage lending team has nearly doubled in size, bringing on board over 40 new employees in sales and operations. Many of these new hires were sourced externally, enriching Alliant’s talent pool. This personnel increase correlates with substantial growth in originations, signaling that the strategy is paying off.

In 2023, Alliant originated $424.4 million in first mortgages, a figure that surged to an impressive $1.3 billion in 2024. The upward trend continued into 2025, with the credit union producing $988 million in originations during the first half of the year—three times more than in the same period in 2024 and six times the amount from the first half of 2023.

June 2025 marked a historic month for Alliant, as the credit union reported closing $145.7 million in first mortgage originations, setting a new record. A noteworthy part of this success stems from loans originated through the new platform, with a significant proportion being granted to non-members, illustrating effective market expansion.

Shifts in Mortgage Strategy and Market Impact

Previously, Alliant’s mortgage lending approach was largely reliant on a national correspondent lending program. However, the direct lending strategy now emphasizes establishing direct connections with borrowers through referrals. This shift aligns with the development of a fully digital, end-to-end mortgage application process that directs referrals to Alliant’s website for application and pre-qualification.

Home Mortgage Disclosure Act data reflects an average loan amount of $517,630 in 2024, representing a 14% increase from the previous year. Despite serving many affluent members, the organization is also committed to assisting lower-income borrowers in achieving homeownership through a variety of programs. Only 9% of Alliant’s loans were issued to borrowers with household incomes below 80% of the median income in their counties, in contrast to 15% for other major credit unions.

Commitment to First-Time Homebuyers

The credit union’s leadership has recognized the importance of providing opportunities for first-time homebuyers, which is a central aspect of Alliant’s value proposition. While Alliant primarily serves a more affluent membership base, its determination to enhance access to home financing options for all potential borrowers remains a priority.

The successful implementation of the direct lending program highlights Alliant Credit Union’s adaptability and commitment to innovation in the mortgage lending industry, positioning it well for continued growth in the competitive financial landscape.

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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
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