UW Credit Union announced that it has launched a new private student loan program and student lending CUSO, CU Campus Resources.
The CUSO offers participating credit unions a turn-key student lending program that can be customized to a credit union's membership.
"Our program is designed to strengthen the relationship between credit unions, members and colleges in the community," said Mike Long, executive vice president/chief credit officer at UW Credit Union and chief operations officer of CU Campus Resources. "Having served the University community for over 75 years, we are uniquely positioned to assist other credit unions who want to succeed in providing their members with education loans."
Cology Inc. is the technology and loan origination company behind the program that developed the core processing system and back-office support.
"Cology's experience with credit union private student loan programs is unmatched. They have deep relationships with financial aid professionals and understand the application, underwriting and disbursement processes, which will help credit unions build strong relationships with the colleges that serve their members," said Long.