MADISON, Wis. — During a news conference here that included the state’s governor, UW Credit Union announced membership eligibility will expand to include all current and former college students who reside in Wisconsin.
Gov. Scott Walker said the expanded FOM is a way to help students refinance their loans.
UW Credit Union offers loans with APRs ranging from 2.2% to 6.8% on student loans.
Membership in UWCU had been limited to current and past University of Wisconsin System and Madison Area Technical College students.
During the press conference UWCU CEO Paul Kundert said it has offered refinancing and consolidation to its members for about three years.
"We’ve already lent $20 million in student loan refinancing," Kundert said. "What’s changed with this announcement is there are more people eligible to access those products."