The Credit Union Association of New York and CUSO CU Student Choice announced that they have entered into a strategic partnership.
"While private student lending by traditional lenders has fallen off, the cost of higher education has continued to escalate, creating a funding gap that can effectively be filled by credit unions," said William J. Mellin, president/CEO of the Credit Union Association of New York. "By entering into this partnership with Credit Union Student Choice, we have taken the guesswork out of private student loan services for our credit unions."
Credit unions of all asset sizes and fields of membership can sign up for the CU Student Choice loan program. The loan product features no origination fees, flexible repayment terms and the ability to apply for the loan only once to secure undergraduate financing.
"We're very excited to enter into this partnership with the Credit Union Association of New York," said Jon Jeffreys, president of CU Student Choice. "As a credit union service organization, our goals align perfectly with those of the Association to advance the credit union movement by delivering a private student loan solution that will help credit unions become leaders in education finance and position them for long-term success. This partnership will prove beneficial to credit unions, students and families as we continue to expand the Student Choice network."