The $730 million Indiana University Credit Union of Bloomington, Ind. is the latest to team up with Washington, D.C.-based student lending Credit Union Student Choice to offer a private student lending solution, the CUSO announced.
“In partnering with Student Choice, we can now provide an affordable solution to a growing need among our student members,” said David Sipes, vice president of marketing and business development for Indiana University CU. “This unique program, designed with the best interests of the borrower in mind, enables us to offer an outstanding and competitive product with significant value to our membership.”
Added Jim Holt, vice president of sales operations for Credit Union Student Choice, “As the debate around soaring college costs and rising student debt rages on, credit unions like Indiana State University CU are stepping up to offer a solution that delivers real value to students and families.”
This partnership brings Credit Union Student Choice’s total number of credit union partners to 226. The CUSO, which launched in 2008 and allows credit unions to make school-certified private student loans that they hold on their own balance sheets, said it has helped its partners originate nearly $700 million in student loans to more than 35,000 borrowers.