PORTSMOUTH, N.H. -- Northeast Credit Union has pledged $10 million toward student loan funding in support of the New Hampshire Higher Education Assistance Foundation.
Due to a drop in private-sector funding, the foundation, along with other nonprofit agencies, have not been able to provide all of the necessary funds to lend to students.
"As a supporter of community education initiatives, Northeast Credit Union feels it's important to help students pursue their dreams of higher education," said Peter Kavalauskas, president/CEO of the $550 million Northeast Credit Union. "NECU is proud to pledge this student loan money for Stafford Loans and the PLUS Loan for Parents. Our hope is that NECU's funding will help students get the loans they need in time for the upcoming school year and beyond."
NECU is currently sending out letters and calling student members to let them know that the credit union has provided funding for their student loans.
Maine CU's Winter Break
PITTSFIELD, Maine -- At Sebasticook Valley Federal Credit Union it's never too early to think about helping members stay warm this winter.
The credit union has brought back its popular 0% energy loan program, which allows current and new members to borrow up to $3,000 to cover the cost of home heating this winter, an increase of $1,000 from last year. Sebasticook is offering members 0% APR financing, payable over a 12-month term. The credit union said the timing for the program couldn't be better, as oil companies are in the middle of preparing contracts for the 2008-2009 winter season.
"Times are tough for everyone right now, so we are especially pleased that we can offer our members a unique program that can truly help them breathe a little easier," said CU President Jim Lemieux. "Many homeowners are on very strict budgets in these precarious economic times."
