ALM First assists with majority of industry securitizations
DALLAS, TX (September 19, 2024) — ALM First, a strategic partner for depositories offering commission-free, fee-based advice, continues to assist on the majority of all public industry securitizations amid a growing trend of increased issuance by credit unions. The firm has now played a role, as a consultant or from a capital markets perspective, in 11 of the 15 securitizations completed since the NCUA’s June 2017 Opinion Letter affirming credit unions could conduct such transactions.
“As more credit unions enter the securitization market, our role as a trusted advisor has become even more important,” says Travis Goodman, Principal of ALM First. “Our team helps credit unions strategically navigate the process, providing insights regarding where to price new loans for sale and executing strategies to lock in margin,” says Travis Goodman, Principal of ALM First.
Most recently, ALM First served as a consultant for Space Coast Credit Union, the third-largest credit union in Florida with over $9B in assets, throughout their most recent auto loan securitization process. The deal, which closed at $669.32 million, was listed as SCCU Auto Receivables Trust 2024-1 (SCCU 2024-1) and marked the credit union’s second asset-backed securities issuance.
ALM First’s role as an unbiased advisor helps ensure cooperatives are tapping a broader investor pool effectively and maximizing the benefit of such transactions for their members.
Over the past few months, the firm has also served as a consultant for both First Community Credit Union, a Houston-based credit union with over $2.5B in assets, and the nearly $4B, Bakersfield-based Valley Strong Credit Union, throughout their auto loan securitization processes.
First Community Credit Union’s first asset-backed issuance, listed as FCCU Auto Receivables Trust, 2024-1, received investment-grade ratings from Moody’s for all seven tranches maturing from May 2025 to July 2032. Valley Strong Credit Union’s third asset-backed issuance, listed as VStrong Auto Receivables Trust 2024-A, consisted primarily of used car loans to near-prime borrowers with the first six of seven tranches receiving investment-grade ratings from Moody’s.
Interested credit unions should visit
www.almfirst.com to learn more about our full range of solutions, including securitization advisory services and our loan transaction network.
About ALM First
ALM First was founded in 1995 as a strategic partner for depositories, offering an array of financial advisory services. The firm’s expertise in asset liability management, investment management, balance sheet strategy, secondary market solutions, and specialty financial services, has allowed it to deliver deeper insights into financial institutions’ balance sheets, strengthening their performance and building efficiencies. With approximately $70 billion of investments under management (as of June 30, 2024), ALM First Financial Advisors is an SEC-registered investment advisor, acting as an unbiased third party, offering commission-free, fee-based services to over 300 financial institutions across the country.
In recent years, ALM First Group has expanded to include several wholly-owned subsidiaries including DDJ Myers, an ALM First Company and ALM First Executive Benefits, LLC. Driven by client needs, the firm now offers various services to help financial institutions optimize their greatest assets – their people.
