The $24.8 billion State Employees' Credit Union in Raleigh, N.C., announced itwill purchase up to $25 million in federally guaranteed studentloans from the North Carolina State Education Assistance Authority,which runs the SEAA Loan Rehabilitation Program.

The credit union's purchase of the loans will benefit theprogram and allow the SEAA to pursue new programs to assist NorthCarolina students and their parents, SECU said.

“Through the purchase of these student loans, SECU is providingthe capital to expand the rehabilitation program and thus help even more borrowers in North Carolina's program earn afresh start,” said Steve Brooks, executive director for SEAA. “Wehave partnered with the credit union on numerous programs andinitiatives over the past 30 years to help make educationaffordable for students and their families and we are proud to haveSECU join us in this effort.”

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 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.