Technology vendor Fynanz, which provides credit unions with customized student lending programs and the cuStudentLoans.org private student loan marketplace, announced the addition of five new CU partners, bringing its total number of CU clients to more than 180.
The $285 million Linn Area CU of Cedar Rapids, Iowa, the $900 million Hanscom FCU of Hanscom Air Force Base, Mass., and the $300 million Cornerstone Community CU of Lockport, N.Y., recently built custom lending programs on the Fynanz platform, the company said.
“Fynanz’ customizable platform and holistic approach to student lending were the best fit for our members’ higher education financing needs,” said Tracy Molander, vice president of lending for Linn Area CU.
Meanwhile, the $300 million City County CU of Fort Lauderdale, Fla., and the $250 million Sooper CU of Arvada, Colo. have joined the cuStudentLoans.org program, Fynanz said.
“Offering a private student loan platform was a natural fit for our credit union,” said John Purcell, vice president of lending for Sooper CU. “We believe there is a real need for private student loans. Fynanz will help us provide this product to help members manage the cost of education. In turn, the program will help us grow membership with college students in the market for other financial service products as well.”
In the past year, Fynanz gained 75 credit union clients, the company said, adding that it surpassed the 130 credit union client mark in September 2011.