USAlliance FCU Partners with Student Choice
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FOR IMMEDIATE RELEASE
USAlliance FCU Partners with Credit Union Student Choice to Offer Private Student Lending Solution
Washington, D.C. (April 16, 2012)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced that USAlliance Federal Credit Union in Rye, NY ($800M in assets) has partnered with Student Choice in order to deliver a private student lending program to their members.
“We reviewed several potential student lending partners and Student Choice was clearly the best fit for USAlliance and our members,” said Doreen A. Salvati, Vice President of Member Services and Consumer Lending for USAlliance FCU. “This solution provides new and existing members with an easy and convenient process for obtaining a private student loan, as well as much-needed information to help them make good financial decisions about college financing. The Student Choice team has been extremely helpful during the implementation process and has allowed us to craft a program that will meet the needs of both the member and the credit union.”
The most recent launch pushed Student Choice’s total client list to 225 credit unions, representing nearly 15 million members across the country and a combined $150 billion in assets.
“We’re extremely pleased that USAlliance has elected to partner with Student Choice and provide their members with a fair-value private student lending option,” said Jim Holt, Vice President, Sales Operations for Credit Union Student Choice. “As not-for-profit cooperatives, credit unions are uniquely positioned to not only offer a good loan, but a holistic solution that truly helps members understand their finances and how to maximize low- or no-cost college funding options. Ultimately, it’s about doing what’s right for the member, and doing so in a prudent manner that will also benefit the cooperative.”
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 USAlliance Federal Credit Union
USAlliance Federal Credit Union is a member-owned not-for-profit financial institution offering a full range of checking, savings and loan products. Since its inception in 1966, USAlliance has grown to over $800 million in assets and serves more than 50,000 members across the country. For more information, please visit www.USAlliance.org.
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