Ohio-based credit union modernizes member experience with full-scale conversion, boosting product adoption, revenue growth, and efficiency ratio
Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced that Towpath Credit Union (Towpath) has successfully completed a comprehensive digital transformation using the Alkami Digital Banking Platform. The credit union, headquartered in Northeast Ohio, executed a full conversion, replacing its core, digital banking, loan origination, and document management systems to deliver a seamless and modern member experience.
Towpath is also leveraging Alkami’s Data & Marketing Solution to deepen member engagement and deliver targeted, needs-based campaigns. By using real-time behavioral insights, Towpath connects members with timely offers—such as auto loan recapture, debt consolidation, and e-statement adoption—that support their financial well-being. Since their implementation, these efforts have resulted in over 800 members switching to e-documents and an estimated $2.6 million in auto loan business.
Towpath’s leadership team set out to eliminate digital limitations and provide a frictionless experience that could compete with any financial provider—without sacrificing the personal service that defines the credit union’s local roots.
“We didn’t want a lack of digital capability to be a reason someone chose not to bank with us,” said Michael Sferro, president and chief executive officer of Towpath. “With Alkami, we found the right combination of innovation, reliability, and scalability that allows us to offer a no-compromise solution. Our members now have the tools they need and the experience they expect—all in one place.”
Since launch, Towpath’s enhanced digital tools—including integrated card controls, SavvyMoney® credit score monitoring, transaction enrichment, and account aggregation—are delivering a more intuitive, personalized experience. The platform is helping the credit union deepen relationships and engage members in new, meaningful ways. Product adoption rose from 1.7 to 2.45 products per member. Revenue is up 15 percent year-over-year, and the credit union’s efficiency ratio has improved despite increased investment in technology.
“Towpath Credit Union’s approach reflects the type of forward-thinking leadership we’re proud to support,” said Taylor Adkins, vice president, product management at Alkami. “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. We’re honored to be their partner on that journey.”
To explore the Towpath Credit Union case study for more details, visit here.
To learn more about Alkami’s Digital Banking Platform, visit here.
Alkami has been certified by J.D. Power in 2024 and 2025 for providing “An Outstanding Mobile Banking Platform Experience.”1
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