Longtime IBAT Members Form New Partnership; Offers Student Loan Services to Community Banks
LoanSTAR Funding Group, Inc. of Bryan, TX, and TIB-The Independent BankersBank of Dallas, TX, -- long-time, endorsed members of the Independent Bankers Association of Texas -- will now offer student loan services to community banks in Texas. TIB has begun working with the LoanSTAR for its secondary market service and marketing support and with LoanSTAR Systems, Inc. for its student loan originations and servicing processes. LoanSTAR and TIB have made special arrangements with TIBs former student loan originator and servicer, Sallie Mae, to ensure that borrowers and schools will receive the same level of quality servicing.
Austin, TX (PRWEB) August 16, 2005 -- The Independent Bankers Association of Texas (IBAT) announces a new partnership agreement between two longtime, endorsed members. LoanSTAR Funding Group, Inc. of Bryan, TX and TIB-The Independent BankersBank of Dallas, TX will now offer student loan services to community banks in Texas.
TIB has begun working with the LoanSTAR Funding Group for its secondary market service and marketing support and with LoanSTAR Systems, Inc. for its student loan originations and servicing processes. TIB has been a member of IBAT since 1981, and LoanSTAR was endorsed by IBAT in 1995.
LoanSTAR and TIB have made special arrangements with TIBs former student loan originator and servicer, Sallie Mae, to ensure that borrowers and schools will receive the same level of quality servicing and also confirm that there will be no split borrower" relationships. Further, now all of TIBs lender partners will be able to take advantage of Texas Guarantee (TG) loans by Web service.
We are pleased to be working with LoanSTAR because of LoanSTARs financial, regulatory, product and marketing expertise," said Michael G. ORourke, President and COO of TIB. The addition of this distinguished student lending provider represents a major boost for TIB and for community banking."
TIB is one of the most innovative, successful and highly regarded bankers banks in the nation," noted LoanSTAR Funding Group President Ralph Rushing. This partnership brings together two respected brands that can enhance the well-being of our communities and community banking by providing student loan services to deserving students of all ages and backgrounds. And, with more than 100,000 borrowers in Texas, we now have an opportunity to help even more students achieve their dream of a higher education.
Bill Jeffery, President of LoanSTAR Systems, Inc. stated LoanSTAR Systems is proud to be able to partner with TIB to provide schools, students and parents exceptional quality in student loan origination and servicing."
LoanSTAR Funding Group, headquartered in Bryan, has provided student lending secondary market services to local, state and national lenders for more than 25 years. Since its founding, LoanSTAR Funding has purchased more than $2 billion in student loans with over $1 billion of loans outstanding. The company also markets its CollEDGE loans brand from coast to coast and offers a myriad of other financial services to help college students and their families.
About LoanSTAR:
LoanSTAR Systems, Inc. is a premier education finance administrator, providing technology-driven student loan origination, servicing and other exceptional financial aid products to students, parents and financial aid professionals. Based in Bryan, LoanSTAR Systems provides innovative solutions on behalf of its lenders across the nation and the LoanSTAR Funding Group. LoanSTAR is dedicated to ensuring financial barriers are eliminated so that current and future generations of students have complete and affordable access to the higher education they deserve. To learn more about LoanSTAR and its many products and services, visit www.loanstar.com or call 800-829-4599.
About TIB:
TIB is one of the nations largest and oldest bankers banks, providing more than 30 correspondent banking products and services to more than 1,100 community banks in about 40 states. TIB is owned by more than 430 independent financial institutions across the country and is one of only two bankers banks with more than $1.3 billion in assets. TIB has offices in Texas, Oklahoma, Louisiana, New Mexico, Georgia, California and
Washington.
About IBAT
The Independent Bankers Association of Texas (IBAT) was formed in 1974 to represent the views of community banks. IBAT is the primary voice for members in the Texas community banking industry. Community banks are committed to local service and decision-making, and range in size from $10 Million to $10 Billion in assets. Today, these member banks have combined assets of more than $126 Billion. Additionally, IBATs membership includes over 140 companies who serve the financial services industry. IBATs endorsed products and services are community bank specific.
Chris Williston, President of Independent Bankers Association of Texas, 800-749-4228 or cwilliston@ibat.org
About IBAT Services Inc.
IBAT Services is the for-profit subsidiary of the Independent Bankers Association of Texas. The Services board of directors assumes the responsibility for IBAT for performing due diligence on products and services that enhance the competitive advantages and profitability of community bank members in Texas. Services purchasing power and marketing support helps negotiate desirable packages of benefits.
Ramona Jones, President of IBAT Services, 800-749-4228 or rjones@ibat.org
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