The news out of Alloya – the new corporate seeking to emerge from Members United Bridge – is all good.

That's the word from John Fiore, CEO of Motorola Employees Credit Union inSchaumberg, Ill., who also serves as chairman of the Alloyachartering group.

Said Fiore: “We are confident of success going forward. It isslow going but we are confident. As of August 10th, we are at $53million in capital commitments. That puts us at 76% of ourgoal.”

Fiore added that another $6 million has been verbally committedby credit unions but the capital is in transit.

“The work isn't over. But we believe we will reach our capitalgoal by August 31,” Fiore said.

Alloya had set a goal of $70 million.

“We have commitments from 721 credit unions and we are movingtowards 750,” Fiore said.

Asked to comment on the reported impending failure of UnitedResources(neeWestern Bridge) to reach its capitalization target, Fiore said thathe did not know for a fact that was so but if indeed UnitedResources has failed, “that is sad, for many credit unions, for theindustry, and for the people of Western Bridge.”

He indicated that Alloya stands prepared to help fill anyservice gap that would be triggered by a United Resources failureto capitalize.

“If we are needed, Alloya will be here,” said Fiore.