Epitomizing the people-helping-people ideals of the credit union industry, the Credit Union Student Choice private student loan program was created with one goal in mind - helping students and families finance a higher education, without a higher price tag.

"Not only can we now offer our student borrowers an exceptinoal private student loan product, but we also have the opportunity to create a lifelong relationship with these younger members." Jan Moore, VP/COO Discovery FCU

CU Student Choice, the nation's largest credit union private student loan program, features includes zero origination fees, significantly lower interest rates (you set the rate), in-school deferred payment, co-signer release, and graduated repayment options. It’s a very unique product that is structured as a line of credit, which allows students to make multiple draws over the course of their entire college career after completing just one simple application.  Most importantly, your credit union can control the pricing and retain the ongoing relationship with your member.     

CU Now Video highlights Credit Union Student Choice Program

Students are beginning the financial aid process for the 2010-2011 school year now. By May, they'll be looking to fill their education funding gap. Your credit union can create new member value with a turnkey Credit Union Student Choice lending solution.

On February 17, 2010, the Association and Credit Union Student Choice will hold an informational, eye-opening webinar from 10:00 a.m. - 11:00 a.m. To register, simply email your name, credit union name, position, email address & meeting code:2010-WEB-CU-STU-CH to registration@pcua.coop.

 The Credit Union Student Choice Program:

       n Funded $150,000 million in private                student loans
       n Lending to nearly 11,000 borrowers
       n Serving 100 credit unions across the country

A CUSO dedicated solely to private student lending, Credit Union Student Choice was designed by credit unions for credit unions and is now the largest provider of these services to credit unions.

In a market where the prevailing interest rate being charged to your young members is around Libor + 10%, the Student Choice program introduces fair-value loans while producing favorable returns to your balance sheet.

 

Student Choice manages all of the key operational challenges and risks associated with private student lending, including

• Regulatory compliance
• Risk management
• Loan processing, disbursement, and servicing
• Guarantor relationship
• Web services, including online application and approval
• 24/7 call center operations

Learn how credit unions are leveraging their not-for-profit structure and balance-sheet lending capability to successfully enter the distressed private student lending market.

Register for the February 17th webinar (10:00 a.m. - 11:00 p.m.) by emailing your name, credit union name, position, email address & meeting code:2010-WEB-CU-STU-CH to registration@pcua.coop.

Federal student loan programs are leaving many families struggling to meet the financial burdens of college-aged children. With more than $4 BILLION on the table, and the potential to fill the void of every student within you membership base, is an hour of your time worth the investment?

Additional Resources:
www.pcua.coop/Products---Services.aspx
www.studentchoice.org
www.smartmoney.com