WASHINGTON — Seven credit unions have teamed up to form Credit Union Student Choice, a new credit union service organization that will offer the industry a private education loan alternative.
The CUSO will assist members in securing funding to pay for higher education expenses with zero origination fees, lower interest rates and flexible repayment options, according to CUSC. According to the CUSO, CUSC aims to combine balance sheet lending capability with low cost service providers to the credit union industry.
"Forming meaningful relationships with students is essential to the future of credit unions," said Jon Jeffreys, president of CUSC. "This initiative shows how cooperatives can meet a critical public need by serving their members and college students in a time of extreme market stress."
The CUSO's founders are Affinity Plus FCU, Digital FCU, NASA FCU, NuUnion CU, San Antonio FCU, Star One CU and Wright-Patt CU.
Affinity Plus, NuUnion, and Wright-Patt went live with the solution today. The other four founding credit unions will also be live in May, followed by a second wave of credit unions launching in June.
The CUSO's business partners are Callahan Credit Union Financial Services Limited Partnership, Callahan & Associates, PSCU Financial Services, Digital Dialogue, Credit Union Direct Lending, CU*Answers, and L9.com.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.