Skip to main content

Every story has a beginning.

Recognizing Member Need

In 2003, a teller asked the CEO of Washington State Employees Credit Union (WSECU) why there were so many non-members of the credit union cashing credit union member checks. Upon investigation, they discovered that many members were using predatory lending sources to get through life events.

In some instances, members needed additional payday loans to pay off the prior loan. In just over six months, leadership found that WSECU members had borrowed more than $6 million in predatory loans, adding up to over $900,000 in fees over 12 months.

WSECU was convinced that their members could benefit from another option. Members needed a short-term loan with a responsible interest rate. Once the idea for a small-dollar loan program was hatched, meetings ensued, whiteboards were filled with diagrams, and a 24/7 automated loan program was put to paper. The goal was to help members make ends meet when unexpected life events threatened their financial future.

Credit unions advance financial inclusion with Life Event Loans.

QCash is born.

In 2004, members had their first access to QCash small-dollar loans. The product was such a success that WSECU automated it and added another product. Over the next several years, the platform helped many people in Washington State. Why not share it with others?

QCash Financial was born in 2015; offering an omnichannel, software-as-a-service application that uses a programming interface to integrate with your core financial, online banking, and mobile banking platform. The underwriting is automated and the funding is instant.

In 2023, WSECU and Alloya Corporate Federal Credit Union entered a strategic partnership in which Alloya acquired QCash Financial as an independent, wholly-owned CUSO of Alloya. As a credit union for credit unions, Alloya’s sole mission is to support credit union success through affordable comprehensive products and services that will help each credit union gain strategic advantages in the marketplace while remaining safe, secure, and relevant for generations to come.

So, where do your members turn when life happens? With QCash, it can be your credit union. Together, we continue to make financial inclusion a reality.

Fast forward your member’s financial freedom.

In 2015, WSECU created a CUSO to bring small-dollar lending to credit unions everywhere. Now, we’re ready to bring it to you and your members.

When unexpected and unfortunate event happens to your members, Life Event Loans help them stay afloat with a 24/7 access, no credit check, and instant deposits to their credit union account.

Give your members quick access to an unsecured loan for things like tax relief, school expenses, vacations, and holidays. These loans are automated and frictionless for you.

In the event of a natural disaster, government shutdown, or health crisis, you can offer members a QCash loan. Giving them the help they need 24/7 in under sixty seconds.

QCash has been a great option for our members with many success stories! Our Client Relationship Advocates are great ambassadors for QCash and always responsive and professional.

Shannon RedmondUS Alliance Financial

Changing financial futures.