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LendKey and Member Student Lending award $20,000 in scholarships to help students pay for college

LendKey and Member Student Lending awarded scholarships to high-achieving undergraduate students studying at an accredited 4-year college or university.

CINCINNATI, OH (August 31, 2023) — Member Student Lending, a leading network of credit unions offering private student loan and student loan refinance lending solutions, and LendKey, a pioneer in network digital lending, today announced the list of winners for their $20,000 in college scholarships.

Twenty merit-based $1,000 scholarships were made available to members of the Member Student Lending CUSO credit unions and are one-time awards for high-achieving undergraduate students studying at an accredited four-year college or university.

“We are committed to helping our members achieve their educational goals,” said Dan Picard, Member Student Lending Board Chair. “The rising cost of tuition is a major barrier for many students, and we’re excited to match LendKey’s initial offering of ten scholarships.”

The list of winners includes members from eleven credit unions including the number of winners from each:

City of Boston Credit Union (7)
Campbell Federal Credit Union (3)
United Poles Federal Credit Union (2)
Peninsula Federal Credit Union (1)
LAFCU (1)
Central Virginia Federal Credit Union (2)
Northern Star Credit Union (1)
FedChoice Federal Credit Union (1)
Garden Savings Federal Credit Union (1)
HomeTown Credit Union (1)

Applications for the scholarships opened May 1 and closed May 29, 2023. A third party, Scholarship America managed the selection process using a standardized rubric to measure candidates’ community involvement, academic achievements, and other qualifications.

“We are committed to providing financial assistance to motivated students, and we are excited to see what these talented individuals will accomplish in the future,” said Vince Passione, LendKey Founder and CEO. “We look forward to partnering with Member Student Lending again next year on this scholarship initiative.”

About LendKey

LendKey is a financial technology firm and leader in providing "lending-as-a-service" solutions to credit unions, community banks, and customers. LendKey works with its clients by providing digital loan origination and servicing capabilities and delivering a loan trading marketplace platform for financial institutions and fintechs. LendKey pioneered the concept of "digital lending networks," which harnesses the collaborative nature of community-based financial institutions to build standard lending programs for private student loans, student loan refinance, and home improvement loans. These programs utilize LendKey's lending-as-a-service platform to provide customer acquisition, online decisioning, loan origination, loan servicing, customer service, and back-office support. ALIRO is LendKey's loan trading marketplace where financial institutions and other market participants can easily transact. Loans are offered for sale and purchased in either whole loan or fractional loan participation format, and the platform supports both one-time and forward-flow transactions. ALIRO delivers the technology, tools, and ongoing service that financial institutions need to evaluate, execute, and manage loan trades to optimize their balance sheet and risk, focusing on improving net interest income. Since 2009, LendKey has empowered more than 350 financial institutions to offer competitive loan programs and increase their digital presence across various customer acquisition channels and marketplaces. Today, LendKey has helped its clients deploy over $6 billion in loans and services more than $3 billion in consumer loans. Visit lendkey.com for more information.

About Member Student Lending LLC

Member Student Lending LLC is a leading network of credit unions offering private student lending options to students and families nationwide through a turnkey digital lending solution. Formed in 2010, the CUSO is comprised of hundreds of progressive credit unions that built a member-responsive private student loan program utilizing common underwriting and pricing. Nationwide loans and a modern loan participation program allow credit unions to mitigate risk while still serving young borrowers.

Contacts

Michelle Asher
Sr. Public Relations Manager
LendKey
michelle.asher@lendkey.com
(646) 626-7396

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