QCash Financial, LLC, a wholly owned credit union service organization (CUSO) of Alloya Corporate Federal Credit Union, proudly announced today that on September 1, 2023, it facilitated the one millionth loan in partnership with credit unions across the United States.

Astera Credit Union, in Lansing, Mich., funded QCash’s one millionth loan. In celebration of this milestone, QCash and Alloya will donate $10,000 to the charity of Astera’s choice. QCash’s CEO Seth Brickman will deliver lunch to the Astera Credit Union team as a thank-you for their partnership in serving the underserved in their community through Astera Snap Cash.

“We couldn’t be more excited to celebrate this milestone and all of our credit union partners who made it possible,” remarked Brickman. “It symbolizes tremendous progress in the fight for financial inclusion – ensuring more Americans stay out of predatory lending and have access to an affordable and responsible small-dollar lending solution from their trusted financial institution.”

Founded in 2015 as a wholly owned CUSO of Washington State Employees Credit Union (WSECU), QCash is a mission-driven fintech offering a relationship-based lending platform that empowers credit unions to improve the financial well-being of their communities by providing small-dollar loans to their members in under 60 seconds without the use of a credit score. For members who do not qualify for traditional lending options, QCash can offer hope. The software-as-a-service (SaaS) automates the application process, integrating with the credit union’s core processor and digital banking platform to reduce friction in the lending process, including making loans available 24x7x365 without any credit union staff involvement.

“We’re so thrilled to see that QCash has provided one million loans through dozens of credit union partners, which save families money from predatory lenders in the cooperative way,” said Gary Swindler, President and CEO of WSECU. “Through a low-effort, fast-funding loan engine, members are able to access funds 24x7x365 to support them through life stages that require quick solutions to everyday needs.”

“It’s a privilege to be celebrating this milestone alongside the QCash team and the 111 credit union clients that have made this millionth loan possible,” reflected Todd Adams, CEO of Alloya. “We look forward to the next million-plus loans that QCash and Alloya can facilitate together as we support our complementary missions to support credit union success and further financial inclusion.”

As a credit union for credit unions, Alloya supports the success of 1,400 member credit unions through affordable and comprehensive products and services that help each credit union gain strategic advantages in the marketplace while remaining safe, secure and relevant for generations to come. Alloya acquired QCash in March of this year.