UW Credit Union increases limit and lowers rates for student loan refinance
MADISON, WI (October 6, 2015) — UW Credit Union now offers consumers the opportunity to consolidate up to $60,000 in private and federal student loans into one monthly payment at a new, low fixed or variable interest rate. The reduction in rates and increased refinance limit—up from $45,000 to $60,000—is due to member feedback and part of the credit union’s ongoing efforts to help members manage and repay their student loans.
“We’re committed to helping members pay off their loans through lower interest rates and giving them the convenience of having all of their loans in one place,” said Sherry Peplinski, Educational Lending Product Manager at UW Credit Union. “To make the student loan refinance process easy, consumers who visit uwcu.org/studentrefinance can calculate their estimated savings and apply online.”
UW Credit Union makes refinancing student loans affordable. There are no fees to apply to refinance student loans with the credit union. Members have up to 15 years to repay, and there is no pre-payment penalty.
“We frequently see members who refinance with us make more than the minimum monthly payments, so they can pay off their loans faster. Lowering their interest rate allows members to more comfortably do this, saving them money and reducing their repayment time,” said Peplinski.
About UW Credit Union
UW Credit Union is a growing, federally insured financial institution and a leading provider of a full range of financial services to University of Wisconsin communities. UW Credit Union’s more than 900 employees serve the financial needs of nearly 333,000 members through world-class technology systems and through a convenient network of 32 branch locations and over 100 ATMs. With $5 billion in assets, UW Credit Union is ranked nationally among the leading credit unions. Founded more than 90 years ago by members of the University of Wisconsin faculty and staff, UW Credit Union continues to operate as a not-for-profit, member-owned financial cooperative with locations in the Madison, Milwaukee, Stevens Point, Green Bay, Oshkosh, Whitewater and La Crosse areas.
