California and Nevada Credit Union Leagues and Credit Union Student Choice Announce Strategic Business Partnership
Washington, D.C. (October 24, 2012)―The California and Nevada Credit Union Leagues and Credit Union Student Choice, the leading provider of higher education financing solutions to America’s credit unions, recently announced a strategic business partnership between their respective organizations.
“It’s very clear that today’s students and families face significant challenges when funding their higher education,” said Diana Dykstra, President and CEO of the California and Nevada Credit Union Leagues. “Rising costs and a sluggish economy force many families to rely on private student loans to fill funding gaps after lower-cost sources have been exhausted. By working with a knowledgeable partner to efficiently enter this market, credit unions have a distinct opportunity to deliver much-needed economic value and financial education to borrowers.”
According to Dykstra, Credit Union Student Choice’s experience, innovative approach, and credit-union-focused business model make them an ideal partner for credit unions.
“With nearly 250 credit union clients and more than 35,000 funded loans, Student Choice has showcased an ability to work with credit unions of all shapes and sizes while delivering excellent service to members,” said Dykstra. “By enabling credit unions to make direct loans at a local level, Student Choice empowers credit unions to become an even more valuable resource to their community while providing them with a genuine opportunity to develop long-term member relationships with these young adults.”
A credit union service organization (CUSO), Student Choice is owned by 12 natural person credit unions and several CUSOs, and manages many of the challenges and risks commonly associated with student lending. Ultimately, the Student Choice private student lending solution allows a credit union to make school-certified private student loans that are held on the credit union’s own balance sheet.
“We are absolutely thrilled that the California and Nevada Credit Union Leagues have chosen to partner with our organization,” said Jim Holt, Vice President of Sales Operations for Credit Union Student Choice. “We currently work with more than 15 credit unions in these states and through this partnership we look forward to helping many more deliver a fair-value private student lending solution to their members.”
About California and Nevada Credit Union Leagues
With headquarters in Ontario, CA, the California and Nevada Credit Union Leagues is a trade association that represents more than 300 credit unions in the two states. For more information, go to www.ccul.org.
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 versus a one‐time referral fee. 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 or call 800‐541-1500.