CU Student Lending LLC, a New Jersey-based CUSO formed in 2010 by financial technology company Fynanz, is now offering a student loan member referral program, the company announced Tuesday.
The member referral program allows credit unions outside of the CUSO’s CU network to link their members to two student loan products managed by CU Student Lending: EdAccess Private Student Loan and EdSucceed Private Student Loan Consolidation.
CU Student Lending’s network comprises more than 110 credit unions that combined their funds to offer private student loans at competitive rates, the company said. The CUSO is the developer and manager of the private student loan program cuStudentLoans.
CU Student Lending said the referral program comes with a non-solicitation agreement that promises participating CUs their member information will not be used for the purposes of marketing outside products. A suite of marketing tools is also provided to help CUs promote the program to their members.
“This program is yet another demonstration of credit unions linking together to promote the credit union mission and serve members with superior loan products at exceptional rates,” CU Student Lending Chairman Tom O’Shea said. “The cooperation ensures members will not have to go outside of the credit union space to receive what is among the best loans in the industry for students seeking assistance in their education financing.”