Launching a new offering is always an exciting milestone—but it’s even more meaningful when it’s shaped by the needs, insights, and ambitions of the members we serve. As Corporate One unveils Multi‑Seller Prime Auto Securitization, we sat down with the leader behind this initiative to explore how the program came to life, the challenges it solves, and the impact it’s designed to deliver. 

In this Q&A, Tammy Cantrell, EVP and Chief Product Strategist, shares the inspiration behind the program and explains how it reinforces Corporate One’s commitment to helping credit unions grow, compete, and serve their members with confidence in any market environment. 

This is Corporate One’s first multi-seller prime auto loan securitization—a $335 million transaction that marks our entry into the auto asset-backed securities (ABS) market. Why is this such a significant milestone for Corporate One and the credit union industry?  

Tammy: Over the past 2.5 years, Corporate One worked diligently to design and build a robust, repeatable securitization structure that allows multiple credit unions to participate together. By doing so, we’ve opened the door to a new, sustainable source of external liquidity—far beyond the traditional channels credit unions have historically relied on. This effort not only strengthens individual credit unions’ balance‑sheet flexibility but also demonstrates the industry’s ability to innovate collaboratively and compete alongside the largest players in the capital markets. 

What inspired Corporate One to enter the auto asset-backed securities (ABS) market at this time?  

Tammy: We were motivated to enter the auto ABS market because the 2022–2023 mini‑liquidity crisis exposed a major vulnerability for credit unions. Many were forced to sharply slow their auto lending simply because they lacked dependable external funding options. We saw an opportunity and a responsibility to change that. By creating a stable, scalable ABS funding channel, we’re helping ensure credit unions have access to reliable liquidity even during periods of market stress. Our goal is to empower credit unions to continue originating loans with confidence, rather than being forced to pull back due to temporary shocks in the funding environment. 

Can you walk us through how the multi-seller structure works and why it’s a game-changer for credit unions?

Tammy: The multi‑seller structure allows multiple credit unions—each contributing at least $50 million in prime auto loans—to participate together in a single securitization. Instead of accessing the capital markets on their own, credit unions can pool their portfolios to achieve the scale necessary for stronger execution and to attract a broader range of institutional investors. This structure also benefits larger credit unions by enabling them to come to market more frequently without waiting until they have a large enough pool of loans for a traditional single‑seller transaction. Corporate One serves as the platform administrator, guiding each participating credit union through every step of the loan‑sale process to ensure security, accuracy, and compliance. We act as the central liaison with all third parties involved—investment bankers, rating agencies, the indenture trustee, owner trustee, and others—so that credit unions can focus on their lending strategies. At the same time, we manage the operational and structural complexities. 

What were the biggest challenges in bringing together multiple credit unions—Wright-Patt, Everwise, and Day Air—into one securitization?  

Tammy: Coordinating a multi‑seller securitization always brings unique challenges, because you’re aligning multiple credit unions—each with its own systems, processes, timelines, and internal priorities—into a single, highly structured transaction. But what made this effort successful was the shared mission among Wright‑Patt, Everwise, and Day Air. They were committed to helping build something truly transformative for the credit union industry. Instead of obstacles slowing us down, their collaboration, transparency, and willingness to work through complexities together turned a difficult process into a collective achievement. Their dedication is ultimately what made our first multi‑seller securitization possible. 

Historically, only the largest institutions have accessed securitization benefits. How does your platform level the playing field for smaller credit unions?  

Tammy: Because of the scale required to enter the capital markets, securitization has historically been accessible only to the very largest institutions. Our platform changes that. One of the credit unions in this inaugural transaction has assets of under $900 million—far too small to issue its own securitization. But by aggregating its loans with those of two larger credit unions, it became part of the largest multi‑seller auto securitization ever completed in the capital markets. This is where Corporate One’s strength in aggregation meets the credit union system’s strength in collaboration. The platform gives smaller and midsize credit unions the same access to capital market funding that historically was available only to billion‑dollar institutions. The result is a more level playing field, where credit unions of all sizes can tap reliable liquidity, support member lending, and compete more effectively in today’s financial services market. 

The deal saw strong investor demand across all tranches—what factors drove that confidence?  

Tammy: First, we intentionally structured the deal to match the risk parameters we use when investing in prime auto ABS ourselves, ensuring it met the expectations of sophisticated institutional buyers. This included using high‑quality, narrow‑band FICO collateral and seasoned loan pools with strong historical performance. We also engaged two Nationally Recognized Statistical Rating Organizations to rate the transaction, giving investors independent, well‑vetted credit assessments. Combined with Corporate One’s deep understanding of structural protections and demonstrated ability to administer the securitization, these elements reinforced investor trust in the deal's strength and reliability. The result was broad interest from major asset managers across every tranche. 

You mentioned plans for two to four transactions annually—what does that pipeline look like, and how can other credit unions get involved?  

Tammy: We anticipate bringing our next deal to market toward the end of this year. As the platform matures, our long‑term goal is to operate on a quarterly issuance cycle. Establishing that cadence is essential—it ensures this becomes a reliable, predictable liquidity source for our member credit unions rather than a one‑off opportunity. For credit unions interested in participating in future transactions, the process starts with a conversation. Any credit union that wants to learn more about eligibility, data requirements, timelines, or how to begin preparing its loan portfolio can reach out directly to its Corporate One senior investment representative. We’re committed to walking each credit union through the steps and helping them through the complexities of issuing a securitization.  

What does this milestone say about Corporate One’s commitment to innovation and supporting the cooperative credit union movement?  

Tammy: Innovation has always been one of our strategic pillars and developing a multi‑seller auto securitization platform is a result of that mindset. From the beginning, Corporate One was created for credit unions to deliver funding solutions they couldn’t access on their own. That mission still guides us today. By building a unique liquidity platform specifically for credit unions, we’re not only introducing a new tool—we’re honoring the cooperative spirit that defines our industry.