State Employees Credit Union of Maryland partners with Student Choice to offer education finance solutions
WASHINGTON, DC (August 6, 2018) — Credit Union Student Choice, the leading provider of higher education financial solutions to America’s credit unions, announced that it has partnered with State Employees Credit Union (SECU) of Maryland ($3.6 billion; 258,000 members; Linthicum, MD). SECU launched both in-school private student loan and student loan refinance options last month via the Student Choice platform.
“With the rising cost of higher education, our members need cost-effective solutions to pay for college and manage student debt,” said Toby Smith, Vice President of Lending at SECU, Maryland’s largest credit union. “By partnering with Student Choice, we can now offer competitive rate financing solutions and refinancing options with lower fees and a streamlined process. Student Choice is helping us put the best interests of our student members and their families first.”
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 280 partner credit unions originate more than $2.5 billion in loans to nearly 80,000 borrowers.
“We are thrilled to have SECU on board as a Student Choice partner,” said Jim Holt, Chief Development Officer of Student Choice. “Each of the solutions that SECU is offering, especially when coupled with much-needed financial education, presents a unique benefit to members that will help them responsibly afford higher education and build meaningful financial relationships.”
About Credit Union Student Choice
Credit Union Student Choice is a credit union service organization (CUSO) that positions credit unions as leaders in education finance by offering a comprehensive solution that helps them deliver fair-value private education loans and corresponding financial education to students and families. To learn more, visit www.studentchoice.org.