Connexus renews Alkami tie as digital lending grows

Connexus Credit Union has renewed its partnership with digital banking provider Alkami, extending a relationship that has lasted more than a decade for the second time.

Digital banking now accounts for 38% of the credit union's loan application volume and 41% of total loan funding year-to-date, up from 16% and 12% respectively in 2020. Connexus, which has US$4.1 billion in assets and 420,000 members, has used Alkami's software development kit to build member-facing tools within its banking platform.

The figures offer a snapshot of how regional lenders are trying to move more borrowing and cross-selling activity into digital channels, while using online and mobile banking to deepen relationships with customers who may first arrive through a single loan product.

Digital banking users hold about 17% more products per member than the average account holder, Connexus said. It also reported that its digital banking Net Promoter Score rose to 52.7 in 2025 from 31.1 in 2022, while its overall organisational score increased to 58 from 42.3 over the same period.

Digital lending

The Wisconsin-based credit union has focused in part on indirect auto borrowers, a segment in which customers often begin with a vehicle loan arranged through a dealer rather than a broader banking relationship. It has used onboarding, digital banking enrolment, loan payment tools, targeted email campaigns, in-app messaging and internally developed product recommendations to encourage further take-up.

Its mobile app has a blended rating of 4.72, including more than 14,000 Apple App Store ratings, according to Connexus.

Laura Huggins, Senior Vice President of Marketing at Connexus Credit Union, described the renewal as part of a long-term technology strategy.

"Connexus selected Alkami because we wanted a strategic technology partner that could support our long-term vision," Huggins said. "More than a decade later, that remains true. Alkami gives us a reliable foundation for the everyday member experience while providing the flexibility to build capabilities unique to Connexus and continue advancing our digital strategy. That's why renewing our partnership was a natural decision."

Connexus uses the platform for services including account alerts, transfers and card management, and has also built a progress tracker tied to its Xtraordinary Checking product. The software development kit allows the lender to create its own digital functions rather than rely solely on a supplier's standard features.

Broader trend

Credit unions and smaller banks are increasingly using digital banking systems not only for routine servicing but also for lending, marketing and retention, particularly as consumers expect more account activity to be handled through mobile apps. For lenders with national or multi-state membership bases, digital channels can also reduce reliance on branch networks for product distribution.

Connexus serves members across all 50 states, making digital access central to how it reaches customers. One aim has been to turn borrowers who may not initially have chosen Connexus as their main financial institution into longer-term members with multiple products.

Huggins addressed that challenge directly.

"Indirect borrowers often did not intentionally choose Connexus Credit Union as their financial institution," she said. "They chose a car or another financial need, and Connexus became the lending partner that helped meet that need. We have to earn the opportunity to build a broader relationship by providing a simple, reliable and relevant experience from the beginning."

For Alkami, the renewal helps retain one of its earliest customers at a time when software providers to financial institutions are under pressure to show measurable outcomes from digital investment. Connexus' use of the platform has supported lending growth, higher product holdings and stronger satisfaction scores, the company said.

Wayne McCulloch, chief customer officer at Alkami, said the partnership reflected a combination of technology and in-house execution.

"Connexus demonstrates what is possible when a financial institution combines deep member knowledge, internal innovation and a long-term technology partnership," McCulloch said. "Connexus' continued investment in digital banking is helping create more convenient member experiences while supporting meaningful business outcomes across engagement, lending and relationship depth. We are proud to continue working alongside Connexus as they build what comes next."