The cooperation ensures members will not have to go outside of the credit union space to receive what is among the best loans in the industry for students seeking assistance in their education financing.
Clark, NJ (PRWEB) June 28, 2011
CU Student Lending, LLC, a credit union service organization (CUSO) that developed and manages the cuStudentLoans private student loan program, today announced the launch of a member referral program that allows credit unions outside of its lending network to offer members a credit union managed and funded alternative for their private student loan needs.
The new referral program, which features the EdAccess Private Student Loan and the EdSucceed Private Student Loan Consolidation, is a credit union managed program of over 110 participating credit unions that have pooled funds to offer private student loans to students and families nationwide. The program, in an effort to protect the member sovereignty of its referral partners, includes a non-solicitation agreement that ensures their members will not be marketed to by the lending credit union with outside loan products while they are in repayment.
“This program is yet another demonstration of credit unions linking together to promote the credit union mission and serve members with superior loan products at exceptional rates,” said Tom O’Shea, Chairman of CU Student Lending, LLC. “The cooperation ensures members will not have to go outside of the credit union space to receive what is among the best loans in the industry for students seeking assistance in their education financing.”
The program, which is now available to interested credit unions, also includes a suite of member marketing tools for credit unions to promote the program and maximize referral volume.
About CU Student Lending, LLC
CU Student Lending, LLC is a leading network of credit unions offering private student lending options to students and families nationwide. Formed in 2010, CU Student Lending, LLC is comprised of over 110 progressive credit unions that built a member-responsive private student loan program using a common underwriting and pricing platform. The program, which consists of both the EdAccess Private Student Loan and EdSucceed Private Student Loan Consolidation, includes loan participations to enhance and mitigate risk.
Thomas J. O’Shea, Chairman
CU Student Lending, LLC
732-388-0477 ext 8117
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