CEFCU Selects Student Choice for Private Student Loan Solutions

​CU Student Choice, the leading provider of higher education financing solutions to America’s credit unions, announced that it will soon be delivering private student loan and refinance solutions to members of Citizens Equity First Credit Union (CEFCU) ($8.3B assets; 410,618 members; Peoria, IL).
 
CEFCU will be offering student loans to undergraduate and graduate students, as well as the Student Choice refinance product, which allows borrowers to consolidate and refinance private and/or federal student loans, including Parent and Grad PLUS loans.
 
“We’ve offered student loan solutions for many years but are very excited to tap into the experience and expertise of Student Choice,” said Doug Hanley, Chief Lending Officer for CEFCU. “In addition to their long and successful track record of helping credit unions enter the private student lending space, Student Choice’s new loan origination platform has allowed us to build a custom program that will best serve the Credit Union members. We look forward to providing members with affordable ways to manage their student loans – both during and after college.”
 
"Paying for college remains a significant financial strain for families, and the unknowns surrounding federal student lending have led to added stress,” said Jim Holt, Chief Development Officer for CU Student Choice. “Credit unions have proven their staying power and ability to support members with fair-value loans during a range of economic cycles. In fact, CEFCU has been helping members for nearly 90 years. We look forward to supporting CEFCU’s members in successfully navigating the college financing process and their student loan repayment journey.”
 
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 more than 300 partner credit unions originate nearly $4.7 billion in private education loans, assisting more than 132,000 families in the process.