Indiana University CU Partners with Student Choice
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FOR IMMEDIATE RELEASE
Indiana University CU Partners with Credit Union Student Choice to Offer Private Student Lending Solution
Washington, D.C. (May 16, 2012)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced that Indiana University Credit Union in Bloomington, IN ($730M in assets) has partnered with Student Choice in order to deliver a private student lending program to their members.
“In partnering with Student Choice, we can now provide an affordable solution to a growing need among our student members,” said David B. Sipes, Vice President of Marketing and Business Development for Indiana University Credit Union. “This unique program, designed with the best interests of the borrower in mind, enables us to offer an outstanding and competitive product with significant value to our membership.”
The most recent launch pushed Student Choice’s total client list to 226 credit unions, representing nearly 15 million members across the country and a combined $150 billion in assets.
“We’re thrilled that Indiana University Credit Union has elected to partner with Student Choice in providing their members with a top-tier private student lending solution,” said Jim Holt, Vice President of Sales Operations for Credit Union Student Choice. “As the debate around soaring college costs and rising student debt rages on, credit unions like Indiana University Credit Union are stepping up to offer a solution that delivers real value to students and families.”
The Student Choice network enables credit unions of all sizes to make school‐certified private education loans that are held on their own balance sheet. Since first launching in 2008, the CUSO has now helped its partner credit unions originate nearly $700 million in private student loans to more than 35,000 borrowers.
About Credit Union Student Choice
Credit Union Student Choice is a credit union service organization (CUSO) founded in 2008 by several of the nation’s leading credit unions and CUSOs. Credit Union Student Choice positions credit unions as leaders in education financing in the 21st century by redefining value for student borrowers and helping credit unions connect with young adults. The Student Choice network enables credit unions of all asset sizes and fields of membership to make private student loans that may be held on their own balance sheet to recognize the long‐term economic return of the loan relationship. The CUSO helps credit unions by managing many of the challenges and risks commonly associated with student lending. To learn more, visit www.studentchoice.org.
About Indiana University Credit Union
Indiana University Credit Union is a full-service, not-for-profit financial institution with 11 branches statewide, 65,000 members, and assets of $730 million. Established in 1956, IUCU offers a full range of financial services for individuals and business owners, including mobile account access and online services at iucu.org.
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