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Towpath Credit Union's Digital Transformation Journey

In a significant step towards modernizing financial services, Towpath Credit Union, based in Northeast Ohio, has effectively transformed its digital banking experience by collaborating with Alkami Technology, Inc. This advancement not only enhances member engagement but also positions Towpath as a competitive player in the financial sector.

Major Overhaul of Digital Services

Towpath Credit Union undertook a comprehensive digital transformation, implementing Alkami's Digital Banking Platform. This change involved a complete overhaul of its core banking operations, which included upgrades to digital banking, loan origination, and document management systems. By doing so, Towpath aimed to deliver a seamless and contemporary experience for its members.

Michael Sferro, the president and CEO of Towpath, emphasized the importance of ensuring that digital limitations would not hinder customers from banking with them. He stated, "We didn't want a lack of digital capability to be a reason someone chose not to bank with us. With Alkami, we found the right combination of innovation, reliability, and scalability that allows us to offer a no-compromise solution."

Innovative Marketing Strategies

Beyond just upgrading technology, Towpath is leveraging Alkami's Data Marketing Solution to foster deeper connections with its members. This tool allows Towpath to utilize real-time behavioral insights to deliver personalized financial offers, such as auto loan recaptures and debt consolidation strategies. As a result of these efforts, over 800 members have transitioned to electronic documents, and the credit union has generated an estimated $2.6 million in new auto loan business.

Enhancing Engagement and Product Adoption

Since launching the new platform, Towpath has seen significant improvements in member engagement. New digital tools like SavvyMoney® credit score tracking, account aggregation, and integrated card controls are now available to members, contributing to a more intuitive and personalized banking experience. As a metric of success, product adoption has risen from an average of 1.7 products per member to an impressive 2.45 products.

Moreover, Towpath's year-over-year revenue growth has reached 15%, even with increased investments in technology, showcasing the tangible benefits of their strategic initiatives.

A Commitment to Community and Innovation

Taylor Adkins, vice president of product management at Alkami, reflected on Towpath's forward-thinking leadership, praising their strategy that not only incorporated new technology but also aligned with their community-centric mission. He mentioned, "Their team didn't just implement new technology—they made strategic moves to future-proof their institution while staying true to their community-first mission."

As Towpath Credit Union continues to pave the way for modern financial services, this partnership with Alkami demonstrates a clear commitment to innovation and member satisfaction.

For those interested in learning more about the Towpath Credit Union case study, additional information is available. Likewise, explore Alkami's Digital Banking Platform to see how cutting-edge solutions are reshaping the financial services landscape. Towpath's success underlines the significant role of technology in fostering better banking experiences and supporting community values.

Alkami has also garnered recognition from J.D. Power for providing an outstanding mobile banking platform experience in both 2024 and 2025, further emphasizing the impact of their advanced solutions on user satisfaction and engagement.