Institutional Innovation: Growing From 1 to 1,400 Credit Unions in Six Years

BECU formed a CUSO called Prime Alliance to create better mortgage lending for itself. Once running, Prime Alliance attracted other credit unions. It used two models: 1) direct ownership by member credit unions; and 2) indirectly serving credit unions by working with mortgage companies and other CUSOs that work with credit unions. In less than six years, Prime Alliance grew from serving one credit union to serving 1,400.

 
 
 

 

 

Aug. 1, 2006


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