ST. PAUL, Minn. — Affinity Plus Federal Credit Union, in partnership with Credit Union Student Choice, has launched a new loan product aimed at filling in the gaps in college financing often left by federal student aid.
In a statement touting the release of the product, Affinity Plus said the loans offer benefits such as significantly lower rates, no origination fees and more flexible repayment terms. Students only need to fill out one application to finance an entire four-year education and can receive online approvals, as well as release of co-borrowers on loans after 48 months of on-time payments.
Affinity Plus has approved 68 loans for members for a total dollar amount of about $700,000 since the August 2008 launch of the loan product. Students who have participated thus far have financed an average of $11,000.
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"The Student Choice private loan is a valuable addition to our existing suite of student products at Affinity Plus as it provides a complete package for our student members. This product opens the door to higher education and we are honored to help our members achieve their educational goals," Kyle Markland, president/CEO of Affinity Plus, said in a written statement.
Affinity Plus Federal Credit Union is the largest credit union in Minnesota and has over 130,000 members and $1.2 billion in assets.
Belvoir FCU Sticks With Premier
ELKRIDGE, Md. — Premier Solutions Group Inc. has announced that it will continue to provide credit insurance to Belvoir Federal Credit Union.
"We are pleased to extend our longstanding and successful partnership with Premier Solutions Group as we constantly strive to bring additional value and deliver the utmost in services to our members and employees," Belvoir Federal Credit Union CEO Patricia Kimmel said. Belvoir Federal Credit Union has been a PSG client since 1997.
"PSG's financial products and services help us to compete and succeed for our members in a highly competitive marketplace," she continued.
Belvoir Federal Credit Union was organized in 1946 by employees of the Engineering Center on Fort Belvoir, Va. Since that time, it has expanded to serve the entire Fort Belvoir community and several select employee groups. In the past 60 years, Belvoir has grown into a full-service financial institution with over $220 million in assets and more than 25,000 members worldwide.
Premier Solutions Group is a provider of customized credit insurance and debt cancellation products PSG has served more than 250 credit unions throughout North America for more than 30 years.
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