The addition of two new credit union partners has pushed student lending program provider Fynanz to reach the milestone of 50 credit union partners.
Princeton Federal Credit Union in Princeton, N.J., and Dort Federal Credit Union in Flint, Mich., were the two new additions to the Fynanz program. Princeton FCU launched the EdAccess turnkey private student loan program, which is a program where credit unions pool funds and spread out the risk of the loan. Dort FCU launched a custom built private loan program.
"Dort Federal Credit Union is excited about our relationship with Fynanz and we are looking forward to bringing a private student loan product to our market," said Jeremy Zager, chief financial officer at Dort FCU. "Both the loan portfolio diversification and the growth potential associated with offering private student loans are in alignment with our strategic vision and credit union mission."
In February, Fynanz was selected as a strategic partner by CUNA. In 90 days the company has more than doubled its number of credit union partners.
"We're extremely pleased to have credit unions of all sizes recognize the unique value our program offers and this expansion will allow us to meet the education financing needs of even more students nationwide," said Vince Passione, CEO and founder of Fynanz.