Credit Union Student Choice announced that it formed partnerships with seven new credit union clients in the first quarter of 2018, raising its partner total to 275.
The seven new institutions are:
- American Airlines Federal Credit Union (based in Fort Worth, Texas; assets of $6.9 billion)
- Arapahoe Credit Union (Centennial, Colo.; $125 million)
- Community 1st Credit Union (Ottumwa, Iowa; $639 million)
- Georgia United Credit Union (Duluth, Ga.; $1.3 billion)
- Lincoln S.D.A. Credit Union (Lincoln, Neb.; $11 million)
- U.H.S. Employees Federal Credit Union (Johnson City, N.Y.; $19 million)
- State College Federal Credit Union (State College, Pa.; $18.3 million)
In addition to the seven new partners, four existing Student Choice credit union partners added the company’s student loan refinance solution to their existing in-school loan program.
“As Student Choice has continued to grow over the past decade, it’s clear the need for a fair-value, affordable solution to help families pay for college has not diminished,” stated Jim Holt, chief development officer of Student Choice. “And as graduates exit college, managing their loan repayment shouldn’t be a burden as they begin the next stage of their lives. Our refinance solution can help members establish a stable financial future and lifelong relationship with their credit union.”
Student lending continues to be a growing business opportunity for credit unions as the cost of college tuition increases.
“We’re excited to begin our partnership with Student Choice,” said Raymond Wade, vice president, mortgages and business services at American Airlines FCU. “The credit union is constantly working to bring new products and services to our more than 287,000 member-owners designed to help them make wise financial decisions in every stage of their lives.”
Wade also said that repaying student loan debt is “one of the biggest challenges faced by many young professionals.”
“Adding Student Choice’s refinance solution to our product lineup will be a tremendous asset in helping our members responsibly manage student loan repayment,” he added.