The cuStudentLoans program provides us the perfect opportunity to enter a new asset class and grow Gen-Y membership while still taking advantage of the risk mitigation benefits of an experienced lending network.
New York, NY (PRWEB) April 29, 2013
LendKey (formerly Fynanz), the cloud-based lending technology company located in New York City, today announced the addition of Andrews Federal Credit Union (MD) to its growing list of lending partners. The credit union will utilize the LendKey network platform for all elements of their private student loan and private student loan consolidation programs.
Andrews Federal Credit Union, a $970 million credit union that serves over 100,000 members at military bases and installations around the world, as well as over 200 additional employer groups throughout Maryland and New Jersey, will be the latest credit union lending partner to join the cuStudentLoans program. The program, which utilizes the LendKey platform to offer common underwriting and pricing across a network of 165 credit unions, includes loan participation to enhance risk mitigation.
“The cuStudentLoans program provides us the perfect opportunity to enter a new asset class and grow Gen-Y membership while still taking advantage of the risk mitigation benefits of an experienced lending network,” said Russ McAtee, COO at Andrews Federal Credit Union. “We’re excited to grow our portfolio with a group of like-minded credit unions already seasoned in the asset class,” continued McAtee.
“LendKey is pleased to partner with such a prominent Washington DC area credit union that serves such an important membership base,” said Jim Merrill, SVP of Sales for LendKey. “We’re excited for their involvement in both the private student loan and private student loan consolidation network programs, and look forward to growing their portfolio quickly this upcoming academic lending season,” continued Merrill.
Formerly private student lending solutions provider Fynanz, LendKey, located in New York and Ohio, offers cloud-based technology to provide the essential infrastructure for credit unions or any party to quickly, securely, efficiently, and profitably lend to anyone else – from those offering loans directly to those structuring new types of loans. LendKey’s lending solutions to credit unions nationwide primarily provide loans pertaining to automobiles, students, or green efforts. The company’s clients and partners, 243 credit unions and the Credit Union National Association, have exclusively leveraged the platform for private student lending purposes. For more information, visit http://www.lendkey.com.