We Give Credit Unions and Their Members More Credit Options.

CU Alternative Lending Solutions (CUALS) gives credit unions and their members options when it comes to small dollar loans.

Barrier between a credit union and under-served members

As a credit union owned company, a CUSO, we understand the barriers that exist in offering small dollar loans to Members. We can assist in scaling credit risks, operational cost, and policy guidance to optimize your program.

Credit Risk

We understand that providing credit to your underserved members can be difficult. In our nearly two decades of providing this service for members, we know how to assist in managing your credit union’s risk tolerance to deliver small dollar loans.

Operational Cost

We recognize the cost of traditionally processing personal loans and lines of credit. This expense exists whether members qualify or not. With CUALS we can fully underwrite all small dollar loan applications at a fraction of your costs, possibly even reducing them to zero, depending on which of our service/system options the credit union chooses.

Increased Credit Options

With our service/system options, your credit union has the choice to:

  • CUALS owns the loan, services the loan and manages all of the risk of the loan. Credit union earns quarterly income based on loan volume.
  • The credit union sets the terms & rates of the loans, funds the loans, portfolios the loan. CUALS services the loan.

Find out more about the options we can provide your credit union

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Up to 25% of your members utilize at least one small dollar loan per year to meet an immediate need. Timing is critical, and often these needs are unmet by their credit union. With CU Alternative Lending Solutions’ options, your credit union can deliver small dollar loans, while minimizing credit risk, operational expenses, and with full underwriting capabilities.

Find out more about the options we can provide your credit union

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Check the overwhelming statistics from a recent FDIC report on underserved credit consumers.

See the Statistics

Adding one of our small dollar lending options to your credit union’s loan program can help you serve more of your member’s credit needs, as well as provide a new avenue to attract new members!

CU Alternative Lending Solutions is a CUSO, owned by credit unions. We live and breathe the credit union philosophy.

To learn more about how CUALS options can deliver more credit to more members, just ask us how.

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97% Satisfaction

Our latest survey of members who have used CU Alternative Lending Solutions shows a 97% “Very” or “Extremely Satisfied” in our services.

News & Events

See where CUALS will be and read our latest news.

Events

Where Innovation Meets Opportunity in the Heart of the Smokies

Event: Tennessee Credit Union League Annual Convention & Expo

Date: September 28, 2026 - October 1, 2026

Location: Gatlinburg Convention Center, Gatlinburg, TN

Transform your professional journey at this must-attend industry event. Connect with fellow leaders, discover cutting-edge solutions, and shape the future...
View Event Details for Where Innovation Meets Opportunity in the Heart of the Smokies

Join CU Alternative Lending Solutions at the 2027 NACUSO Reimagine Conference

Event: 2027 NACUSO Reimagine Conference

Date: March 30, 2027 - April 2, 2027

Location: Wynn and Encore Resorts, Las Vegas, NV

NACUSO's Reimagine 2027 Conference, March 30 - April 2, at the Wynn and Encore Las Vegas
View Event Details for Join CU Alternative Lending Solutions at the 2027 NACUSO Reimagine Conference

News

Our Team

Our experienced team is here to guide and support credit unions every step of the way. We work alongside you to ensure your members receive the best lending solutions and service possible.

Asa Groves

President / CEO

Over 35 years ago, Asa Groves began his career in the marketing and advertising industry specializing in radio and print media. For the past 25 years, Asa has incorporated this valuable knowledge and experience into the credit union industry. He has worked in various facets in the credit union space including management, operations and marketing.

After moving from the marketing and advertising sector, his career evolved into managing a team of mortgage representatives as Regional VP. He continued on this path becoming a Regional Account Executive where he improved teller cash automation and frontline branch operation efficiencies. For the last 18 years Asa has been connected with CU Holding Co, and currently serving as President and CEO of CU Alternative Lending Solutions, LLC.

Asa’s earliest childhood memories regarding credit unions were that of the annual picnic and his very first savings account at a small Kansas City credit union where his dad served as treasurer.

Today, when not at the office, Asa spends most of his time with his wife of 33 years, his 4 children and his 9 grandchildren.

Lon Neofotist

VP of Lending

Over the course of four decades in the banking and financial services field, nearly 20 years with CUALS, Lon has acquired extensive knowledge of lending operations and processes. He develops and maintains solid working relationships with credit unions and provides meaningful, helpful, and friendly services for their members. In his free time, Lon enjoys traveling, watching and attending Chiefs, Royals, and Iowa Hawkeye sporting events, and assisting his partner with managing his company which provides care for developmentally disabled individuals.

Want to find out  more? Schedule time with our team now.

Consumer Debt, Savings Gaps, and Short-Term Loan Use in the U.S.

Many U.S. consumers face persistent financial challenges, including limited savings, rising debt, and reliance on nontraditional financial services. Recent data from the FDIC, Federal Reserve, and other sources highlight the extent of these issues and provide insight into the demographics of short-term loan users.

2021 FDIC Report
Download a PDF of FDIC National Survey of Unbanked and Underbanked Households.

America’s Consumers

  • Approximately 91 million consumers have subprime credit scores
  • FDIC survey revealed 1 in 4 households have either
    • NO checking or saving account or
    • Obtained most financial services outside of the mainstream
      banking system
  • The FDIC survey revealed 40% of adults could not cover an
    unexpected expense of $400 without selling something
  • 1/5 of adults report unable to pay all of their current month’s bills
    in full.
  • Only 40% of Americans could meet a unexpected $100 expense
    through savings

FDIC Underbanked Survey

America’s Consumers Debt

  • Household debt rose to $18.39 trillion in Q2-2025
  • Credit card balances have increased to $1.21 trillion
    With inflation at 2.7% in June 2025 and increasing inflationary
    pressure, Americans continue to struggle to keep up with rising
    prices and putting less money aside for emergencies or long-term
    financial goals, several studies show
  • Nearly 40% of consumers cannot put any money at all into
    savings*, according to a recent analysis of household financial
    health and readiness by the American Consumer Credit
    Counseling,
    • While about 19% said they had to reduce their savings rate
    • Many are relying on credit card debt to bridge the gap
    • between what they need and what they can afford

*Federal Reserve Bank of New York and FDIC Underbanked Survey

Short-term Loan Consumer Demographics

  • 100% of short-term loan users have a steady income, make an
    average of $37,360 per year
  • 91% of users graduated from high school, and 58% have some
    college experience or a college degree.
  • 68% are under 45 years of age. (Average age 41)
  • 85% are employed
  • 47% are homeowners
  • 9 years is their average length of residency
  • Approximately 15-25% of members and credit union employees are
    using short-term lenders at least once per year