ROCHESTER, N.Y.–The Summit FCU has selected Credit Union Student Choice to help it provide its members education lending solutions for both private student loans and student loan refinance.
“Since 1941, The Summit has been focused on supporting and contributing to the communities we serve,” said Mark Gregory, VP-lending with the $1.2-billion The Summit FCU. “We have offered private education financing options to our members in the past but are looking forward to working with Student Choice to deliver a broader scope of private student lending solutions to our membership. Student Choice focuses on innovative solutions, personalized service and financial education just as our credit union does, and we are excited to partner with them.”
The Summit FCU will offer in-school financing for both undergraduate and graduate students, as well Student Choice’s refinance product.
“Student Choice provides educational webinars, one-on-one support, and individualized counseling to help borrowers truly understand the lending process,” Gregory added. “Paying for college or repaying student loans can be confusing and overwhelming for families; the tools Student Choice provides help make the process easier to understand so students can make responsible choices about paying for college.”
‘Fair-Value Lending’
Added Scott Patterson, president and CEO of Student Choice, “Consumers have faced a great deal of upheaval in the past few years and need trusted, local financial institutions they can rely on. Like The Summit and all our credit union partners, Student Choice focuses on fair-value lending that can build lifelong member relationships. In our case, that means convenient education funding solutions paired with personalized resources to help borrowers make educated decisions today and in the future.”
According to Student Choice, it 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 more than $4 billion in private education loans to 115,000 families, it reported.