WASHINGTON--CU Student Choice, the leading provider of higher education financing solutions to America’s credit unions, announced its student loan refinance solution will now be available to the members of $500-million Westerly Community Credit Union, based in Wakefield, R.I.
The Student Choice refinance product allows borrowers to consolidate and refinance private and/or federal student loans, including Parent and Grad PLUS loans.
“We have been serving our community since 1948, and as members’ needs have evolved, so have our offerings,” said James Maloney, vice president of consumer and mortgage lending at Westerly Community Credit Union. “Today that means helping members better manage their student loan debt so they can attain future financial goals. By offering affordable student loan refinance options, we can help them save money and take control of their repayment.”
"With the federal student loan landscape shifting under the current administration, credit unions have even more opportunities to step up for their members with innovative private student lending solutions,” said Scott Patterson, president and CEO of Student Choice. “Refinancing student loans can help borrowers lower monthly payments, pay off loans sooner, and potentially save thousands in the long run. And, equally important, this product gives credit unions the chance to develop productive, long-term relationships with the next generation of credit union members.”
Student Choice enables credit unions of all sizes to make private education loans that are held on their own balance sheet. Since launching in 2008, the CUSO has helped nearly 300 partner credit unions originate nearly $4.5 billion in private education loans, assisting more than 130,000 families in the process.