Pennsylvania Credit Union Association

Credit Union Student Choice

The First Choice in Private Student Lending

Register for the next free Student Choice webinar!

Credit Union Student Choice is the leading provider of higher education financing solutions to America's credit unions.  Founded, designed and owned by several of the nation's leading credit unions, Student Choice provides innovative support and service to more than 215 credit unions, enabling them to deliver much-needed value to students and families.

Our program network manages the key operational challenges and risks associated with private student lending, allowing credit unions to recognize the full economic return from these attractive lending relationships without hiring additional staff or on-site expertise.

This revolutionary new loan product fills the growing funding gap between the cost of a higher education and government-sponsored programs. Credit Union Student Choice benefits members through lower loan rates, zero origination fees, and flexible repayment options.

Why Private Student Lending?

By working in a collaborative environment, credit unions can offer a product that will enable members to make better lives for themselves. Financing a higher education demonstrates credit union’s “People Helping People” philosophy.
  • Build life-long relationships with Gen Y members. Credit Union Student Choice delivers a superior loan product to young adults at a critical stage of their young financial lives.
  • Grow and diversify your loan portfolio. Credit Union Student Choice allows credit unions to leverage their lending capability to offer rates and terms beneficial to members and the credit union alike.
  • Turn-key solution. Credit Union Student Choice’s program network allows credit unions to enter the market easily and efficiently.  No additional staff is necessary under this program.
  • Mitigate risk and enhance performance. By utilizing prudent risk-based underwriting, school certification, and optional portfolio insurance, the Credit Union Student Choice program helps credit unions maximize revenue.
  • Members need you. With the majority of credit union members in the 45-54 age range, it’s imperative that credit unions meet not only their financial needs, but also those of their college-bound children.

Product Ownership

Credit Union Student Choice allows your credit union to offer a private student lending program through products, services, and rates designed by you.

With just a small capital investment, our network enables you to make certified private student loans and hold them on your own balance sheet, without adding any additional staff.

Credit unions set the rates and recognize the full value stream that can only come from a long-term productive loan relationship. This is not a referral program. Credit Union Student Choice allows your credit union to serve Gen Y members and build lifelong relationships with young adults who represent the future of your credit union.

By pooling our collective resources Credit Union Student Choice has the expertise necessary to stay on top of this rapidly changing market. Their network of best-of-breed partners handles the most difficult and time-consuming aspects of private student lending, such as:
  • Regulatory Compliance
  • Risk Management
  • Loan Processing and Servicing
  • Guarantor Relationship
  • Web services, including online application and approval
  • 24x7 call center operations
This collaborative structure allows you to use prudent underwriting to lend member deposits at appropriate terms. This collaboration provides superior economic value to borrowers while bringing revenue growth and member relationships to the credit union.

Proven Results

To date, credit unions partnered with Student Choice have funded more than $600 million in no-fee private student loans to nearly 30,000 college students.  Estimates from Student Choice reveal that loans funded through the CUSO's credit union network have already helped members save more than $1.2 billion in fees and interest payments over the term of their loans when compared to publicized pricing at the largest private student loan providers.




For more information or to get started, please contact your Association Representative at 800-932-0661, or e-mail CUSolutions@pcua.org.
Business Development / Sales
 
Central Pennsylvania

Russell Evans
Assistant Vice President,
Business Development
russell.evans@pcua.org
800-932-0661 x 5330

Western Pennsylvania

Monika Scott

Sr. Account Executive
monika.scott@pcua.org
717-503-7348