The world’s largest credit union could someday become the world’s largest issuer of private student loans, with most if not all of those loans generated and serviced online.

Navy Federal Credit Union, which is headquartered in Vienna, Va. and holds $64 billion in assets, today announced a partnership with New York City-based online lending service platform LendKey to offer private student origination and consolidation loans to the credit union’s 5.5 million members worldwide.

The two organizations have been discussing the partnership for some time, according to LendKey CEO Vince Passione. The online service provider has been quietly staffing up to better manage the anticipated spike in business the partnership will provide.

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