Three credit unions were recently ranked among the top private student lenders in the country, according to Student Lending Analytics.
Addison Avenue Federal Credit Union, NASA Federal Credit Union and Northwest Federal Credit Union received four out of a possible five stars from the independent research and advisory firm. All three credit unions are participants in CUSO Credit Union Student Choice.
"This recognition is well-deserved and a great example of the credit union business model, and philosophy, in action," said Jon Jeffreys, president of CU Student choice. "The ranking is a testament to these credit unions, the quality of the fair-value lending program we've built and the ability of not-for-profit cooperatives to truly put their members' interests first."
The ratings were based on expected loan cost, borrower benefit savings, loan fees, repayment options, customer service and financial stability.
"Over the past few years we've heard from members that the private student loans available to them were insufficient to meet their needs and that the rates and fees were exorbitant and the loan terms too rigid," said Scott Pellegrini, Addison Avenue product manager.