Challenge
Bringing construction lending in-house meant solving for member demand, community impact, and capacity, all at once.
Solution
CoFi Blueprint didn’t hand over software and walk away. It runs the construction operation day to day — draw management, lien waiver tracking, and 360° digital inspections — while helping Red Canoe build the program and coaching the team through every step.
$
M
+
funded to date, across
110+ projects
$
M
+
built to run at once
≈ 6× today’s $9M in
active draws
Zero
foreclosures or late
payments
“We viewed construction lending as an extension of our mission to help members financially thrive. Most importantly, we trusted the people.”
Andrew Bellah
VP of Home Lending, Red Canoe Credit Union
Red Canoe, Building at Institutional Scale
Red Canoe was tired of turning members away — so it launched a managed construction program with CoFi Blueprint
In three years, Red Canoe turned a service gap into one of its strongest programs — funding tens of millions in loans with zero foreclosures or late payments, on infrastructure built to grow many times over. CoFi Blueprint manages the engine.
THE STORY IN SHORT
A product launch that became a growth engine
Three years in, Red Canoe’s program is no longer a bet — it’s a proven engine. It has built a clean, growing book of construction loans, keeps millions in draws moving on time, and is built to run several times larger without adding staff. The numbers that follow tell the story.
$
M
+
Funded to date
Across 110+ member construction projects since 2023.
Zero
Foreclosures or latepayments
Backed by disciplined underwriting, CoFi’s builder and project reviews, and tightly managed draws on every deal.
$
M
+
In active draws now
Live construction underway across the portfolio.
$
M
+
Funded to date
Across 110+ member construction projects since 2023.
$
M
+
Partner lending pipeline
Builder, dealer & contractor relationships that feed a pipeline for new memberships and deposits.
day
Median draw approvals
Most draws clear in a single business day.
HOW IT STARTED
The Challenge
Bringing construction lending in-house meant solving for member demand, community impact, and capacity, all at once.The SolutionCoFi Blueprint didn’t hand over software and walk away. It runs the construction operation day to day — draw management, lien waiver tracking, and 360° digital inspections — while helping Red Canoe build the program and coaching the team through every step.
01
Unmet member demand
Members wanted to build homes that fit their needs and budgets.
Impact: Relationships walked out the door.
02
Community housing gap
Housing shortages and affordability pressures were visible region-wide.
Impact: Missed chance to expand local housing.
03
Capacity & expertise
Construction lending needs specialized operations most teams lack.
Impact: Grow the program without growing the team.
The Solution
CoFi Blueprint didn’t hand over software and walk away. It runs the construction operation day to day — draw management, lien waiver tracking, and 360° digital inspections — while helping Red Canoe build the program and coaching the team through every step.
01
Compliant policies & procedures
Built to fit Red Canoe, drawing on peer best practices.
02
Custom workflows
Designed around members and builder relationships.
03
Staff education & coaching
Hands-on guidance so the team could run it confidently.
04
Draws, lien waivers & 360° inspections
Draw management, lien waiver tracking, builder reviews, and 360° digital inspections on every project.
“Most importantly, secure strong leadership buy-in. When leadership understands the impact construction lending can have on housing availability, affordability, and members’ financial well-being, the investment becomes much bigger than adding a new product.”
Andrew Bellah
VP of Home Lending, Red Canoe Credit Union
HOW IT Scaled
Scaling the Partnership
Growth was deliberate. New-construction lending grew into a full menu — manufactured homes, ADUs, and remodel financing — while Red Canoe built the operational headroom and partner network to run many times its current volume, without a proportional increase in staff.
$
M
+
Built to run at any given time
The infrastructure, technology, partnerships, and team are positioned to support $60M+ in active construction at once, without a proportional increase in resources. Today ~$9M+ is in active draws.
$
M
+
In builder & partner lending volume
Annual volume across Red Canoe’s builder, dealer, and contractor relationships, bringing servicing income, new consumer and business memberships, and the deposits that come with them.
THE COFI BLUEPRINT DIFFERENCE
The Challenge
Members and builders worked with Red Canoe. Behind every loan, CoFi Blueprint ran underwriting support, reviews, inspections, draws, and compliance — as a managed service, not software the team was left to run alone.
“Working with CoFi has transformed our workflow, streamlining builder and project approvals and making the draw process efficient, transparent, and reliable. CoFi’s platform and support ensure every project moves forward smoothly, giving our team and partners confidence at every step.”
Theresa Beisse
Home Loans System Admin & Underwriting Manager, Red Canoe Credit Union
OPERATIONAL PROOF · SINCE INCEPTION, 2023
Draws that keep projects moving
Behind every draw is a builder waiting to get paid and a member watching their home take shape. Since the program’s inception in 2023, Red Canoe has kept them moving, with CoFi running the draw process behind the scenes at a consistency that turns a testimonial into a track record.
+
Draws processed
Since the program’s inception in 2023.
day
Median submission to approval
Most draws clear in a single business day (avg 2).
%
On-time draws
Every draw funded on schedule — zero missed since inception.
COFI OWNS THE DRAW PROCESS, END TO END
Draw
request
Builder submits
from the field
Borrower approval
Borrower signs
off on the draw
Docs & lien waivers
Collected and
verified
360° inspection
Digital site
verification
Budget reconciliation
Real-time line-
item updates
Approved & funded
Cleared, same or next business day
From request to funding, CoFi runs the full draw cycle — a median turnaround of one business day —so Red Canoe’s team stays focused on members while builders get paid and home construction keep moving.
Lisa Diaz
Construction & Mortgage System Specialist,
Red Canoe Credit Union
“The platform is a valuable tool for managing draws, and CoFi’s follow-through and support give me confidence we’re working with a partner who cares about our success as much as their own.”
Lindsey Ayres
Senior Home Loan Officer,
Red Canoe Credit Union
“Their platform creates a seamless line of communication between our team, our members, and builders, ensuring everyone stays informed and aligned throughout the build.”
ADVICE FROM THE FIELD
Advice to fellow credit union leaders
Red Canoe VP of Home Lending Andrew Bellah’s message to peers considering construction lending is simple: you don’t have to figure it out on your own. The credit unions that succeed start by learning from others, understanding what a real program takes, and choosing partners who close the gaps they can’t staff alone.
01
Don’t do it alone
Seek guidance from peer credit unions and lean on your credit union association. Others have solved this before you.
02
Understand the infrastructure
Take time to learn the operations and partnerships a successful program actually requires.
03
Find the real gaps
Talk to local builders and members to learn where financing is missing in your community.
04
Choose the right partner
Look for a partner who runs the operation with you, so you can compete where larger banks aren’t focused yet.
“Most importantly, secure strong leadership buy-in. When leadership understands the impact construction lending can have on housing availability, affordability, and members’ financial well-being, the investment becomes much bigger than adding a new product.”
Andrew Bellah
VP of Home Lending, Red Canoe Credit Union
Ready to get started?
Build a construction lending program your members can count on.
Blueprint gives you the tools, the team, and the process to grow your construction portfolio — without the risk and complexity that held you back.
No commitment. We’ll map your first construction program and share the model live.
“Bringing innovation to construction lending — empowering our members to build with confidence and thrive.”
Andrew Bellah · VP of Home Lending, Red Canoe Credit Union
$
M
+
Funded in construction loans
+
Member projects funded
Zero
Foreclosures or late payments, ever
ABOUT COFI BLUEPRINT
A fully managed construction lending platform for community banks and credit unions: draws, inspections, cost reviews, compliance, and underwriting support. CoFi runs the operational engine so partners can stay focused on their borrowers.
ABOUT RED CANOE CREDIT UNION
Founded in 1937 and headquartered in Longview, Washington, serving members across Washington and Oregon. Learn more about their construction loan program at redcanoecu.com/home-loans.
COFI BLUEPRINT × RED CANOE