Credit unions are committed to helping students finance theireducation through private student loans while large banks are backing out of thestudent lending business, according to Fynanz, a CUNA StrategicServices alliance provider that serves credit unions withcustomized student lending programs and the cuStudentLoans privatestudent loan marketplace.
|New York City-based Fynanz gained about 75 credit union partners in the past year,bringing its total credit union partner number to more than 180.Meanwhile, lending giants U.S. Bank and JPMorgan Chase haveeliminated and reduced their private student lending programs,respectively, Fynanz emphasized. Going forward, JPMorgan Chase willonly make private student loans for existing customers, the bankgiant has said.
|“Private student lending has experienced significant change overthe past several years,” said Wes Millar, senior vice president forCUNA Strategic Services, a program jointly owned by CUNA andstate credit union leagues. “Credit unions have created a strongfoundation in student lending during this period and will remainsteadfast in supporting students and families nationwide.”
|More than 125 Fynanz credit union partners participate incuStudentLoans, a program that's managed and designed byparticipating credit unions using common underwriting and pricing,Fynanz said.
|cuStudentLoans features the cuScholar Private Student Loan andthe cuGrad Private Student Loan Consolidation.
|“Students today face challenges in higher costs and less aidwhen financing their higher education,” said Alice Stevens, chairfor cuStudentLoans LLC. “Credit unions are happy to answer the calland help these students reach their educational goals throughresponsible lending.”
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
