Suncoast Credit Union Cuts Fraud Losses by More Than a Third With Alloy

Suncoast Credit Union, one of the largest U.S. credit unions, deployed Alloy’s identity and fraud decisioning platform to strengthen post-account-opening identity verification and fraud defenses. Unlike checks performed only at the application stage, continuous monitoring can detect anomalies such as account takeovers earlier, reducing risks to members’ funds and the institution’s operations.

Suncoast said net fraud losses fell by more than 35% in 2024 from 2023 after it deployed Alloy, though it did not disclose the actual amount lost. When Hurricane Milton struck in October 2024, the system detected an unusual surge in account takeover attacks, helping the credit union take timely preventive action.