Three CEOs, one podcast
Today’s guests are Todd Adams, CEO of Alloya Corporate Federal Credit Union, Gary Swindler, CEO of Washington State Employees Credit Union, and Seth Brickman, CEO of QCash.
What’s the occasion? Alloya has bought QCash which had been a CUSO founded by WSECU which also was its only investor.
This is big news. QCash is doing fascinating work that also happens to be at the core of the credit union mission. It is putting money in the hands of members who have experienced a life event – a blown car engine, a medical bill, maybe an emergency vet bill. Lots of events pop up and a huge percentage of Americans just don’t have the cash on hand to cope. Enter QCash which can get money in a member’s hands literally in seconds.
The loan does not hinge on a FICO score. In the show Brickman explain how QCash makes a decision on a loan application – it’s sophisticated, it’s fast, but it also aims to fund as many loans as it can within the limits of financial prudence.
Adams is on the show to explain why Alloya – and you know the corporate credit union reputation as stodgy dinosaurs – entered a bidding war for QCash and moved fast enough to snare the prize. Adams tells also about the ambitious plans for Alloya which already claims around 25% of credit unions as members.
Swindler is here to offer some history of QCash and also to explain why the CUSO was spun out of WSECU.
There are three shows in the archives that explore QCash. A 2022 show with Inclusiv on its deal with QCash.
A 2022 show with Brickman on his plans for QCash.
And a 2019 show with Ben Morales, a prior CEO of QCash.
If you find the introductory first minute or two confusing, know that you will find the explanatory info you need in the 2022 Brickman podcast.
This is a lively show – and pay attention fintech founders because QCash had multiple suitors vying for a wedding.
