OCCU completes $326 million auto loan securitization, issuing more than $307 million in notes

Contact: 
Cherie Kistner, Vice President of Communications 
OCCU | Oregon Community Credit Union 
541.681.6016 
CKistner@MyOCCU.org 
MyOCCU.org 

FOR IMMEDIATE RELEASE Sept. 1, 2026 

OCCU completes $326 million auto loan securitization, issuing more than $307 million in notes 

Transaction supports continued lending growth and strengthens funding diversification strategy 

EUGENE, Ore. – OCCU | Oregon Community Credit Union successfully closed its fourth auto loan securitization on Aug. 28, issuing more than $307 million in asset-backed securities through OCCU Auto Receivables Trust 2026-1. The transaction included more than $326 million in underlying auto loans and attracted strong investor demand across seven tranches of notes. 

The securitization is part of OCCU's long-term strategy to diversify funding sources, strengthen financial flexibility and support continued access to vehicle financing for members. OCCU remains one of only a small number of credit unions regularly utilizing securitization as a capital markets tool. 

 "This transaction reinforces the strength of OCCU's lending program and our commitment to serving members through all economic cycles," said Greg Schumacher, OCCU president and CEO. "By diversifying our funding sources, we are better positioned to continue helping members purchase reliable transportation while maintaining the financial strength needed to invest in products, technology and service improvements." 

The offering received ratings from both Moody's Ratings and Kroll Bond Rating Agency (KBRA). The lowest-rated tranche received investment-grade ratings of Baa2 from Moody's and BBB from KBRA, reflecting the quality of the underlying loan portfolio and the strength of the transaction structure. 

The securitization was backed by a portfolio of prime-quality auto loans with a weighted-average credit score of 751 generating a weighted-average note rate of 5.019%. The collateral pool included both new and used vehicle loans, with approximately 47% of the loans financing new vehicles. 

The transaction also reflects OCCU's growing presence across the West. While Oregon represented the largest concentration of loans in the pool at 44.8%, the collateral also included loans originated in Washington (33.2%), California (11.3%) and Idaho (6.9%). 

OCCU is also intentionally expanding its indirect lending relationships beyond its traditional Pacific Northwest footprint, including growth in California and planned expansion into Texas and Arizona, to support a regular securitization program. This disciplined, member-centered approach helps OCCU build the loan volume and geographic diversification needed to access capital markets consistently, while using the resulting financial strength to reinvest in products, technology, services and experiences that benefit members. 

OCCU leaders credit the success of the transaction in part to continued investments in servicing and collections operations. Enhancements made over the past several years were recognized by investors and rating agencies as important strengths in the transaction. 

"Our teams have worked diligently to strengthen our servicing and collections capabilities while maintaining a strong member experience," said Jeff Mullins, senior vice president of capital markets. "The positive reception from both investors and rating agencies validates those efforts and demonstrates confidence in OCCU's long-term lending strategy." 

Securitization is the process of pooling individual loans and selling interests in those loans to investors as asset-backed securities. OCCU continues to service the loans after the transaction closes. The strategy provides additional liquidity and funding flexibility, allowing the credit union to support future lending growth while maintaining a strong balance sheet and retaining the member relationship. 

OCCU has financed vehicles for nearly 70 years and has grown into one of the Pacific Northwest's leading auto lenders, serving members directly and through an extensive network of dealership partners. 

About OCCU  

OCCU is a not-for-profit financial cooperative with more than $3.5 billion in assets. The credit union was founded in Eugene, Oregon, in 1956 and remains headquartered there. OCCU has an expanding network of branches and digital tools to provide its more than 300,000 member-owners with a full suite of financial products and services. Learn more at MyOCCU.org. 

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