Alan is a credit union exclusive network that was developed by
American Deposit Management Company and the W.C.U.L. Services Corp. to
serve as a tool for credit unions to gain access into the public deposit
sector. Alan is modeled after services in the banking sector that
have allowed banks almost exclusive access to the public deposits.
As a registered municipal advisor, American Deposit Management Company
works with public depositors to manage their funding and ensure their
deposits maintain federal insurance.
Many public unit depositors are unaware of the benefits of credit
unions and the federal coverage available through the NCUA for
deposits. Alan will match local school districts, villages, towns,
and counties with credit unions for certificates of deposit and money
market accounts at the credit union. The funds from these
depositors go to build and maintain schools, operate government units
and enhance local infrastructure. Alan will provide credit unions
with another source of deposits while enhancing the role of credit
unions within the state.
Alan is an alternative tool credit unions can use when they need
additional funding or are looking to increase ties within their
communities. Alan will match your credit union with public
depositors. As a credit union participant you will choose deposits
that fit the needs of your institution.
For more information please contact Ben Schweder, Vice President
– W.C.U.L. Services Corp., at (800) 242-0833, Ext 6026.