WASHINGTON—Credit Union Student Choice, a provider of higher education financing solutions for credit unions, is reporting it has added two more CUs: the $204-million U.S. Postal Service CU in Clinton, Md., and the $85-million Abbey Credit Union in Vandalia, Ohio. U.S. Postal Service will commence offering a Private Student Loan Consolidation program, while Abbey will implement the Undergraduate program.
By offering a Private Consolidation Loan, U.S. Postal Service FCU will help its members combine multiple high-rate private student loans into one convenient payment, potentially saving thousands of dollars in interest over the life of the loan, CU Student Choice said. Abbey CU will help members responsibly fund their higher education dreams by offering a fair-value private student loan to undergraduate students and families. The solution is designed to fill the funding gaps that may exist after all lower-cost sources of aid have been exhausted.
“Abbey Credit Union has always held member services as a high priority and now, with Student Choice, we are happy to say it adds one more to the list of Abbey’s available services,” said Jan Flynn, Business Development Officer, in a statement.
“It’s been a busy year for us as we continue to grow and assist our credit union partners with new opportunities in education finance,” said Jim Holt, Student Choice’s Chief Revenue Officer. “We are extremely pleased to have U.S. Postal Service and Abbey credit unions join our family and offer products that will enhance member value now and well into the future, building strong and profitable relationships for the long-term.”
Since launching in 2008, Credit Union Student Choice has helped nearly 250 partner credit unions originate $1.6 billion in loans to more than 70,000 borrowers.