Fynanz Surpasses 200 Lending Partners
Thirty new lending partners have joined the private student lending platform in early 2012.
Fynanz Inc. has added Sunmark Federal Credit Union, Los Angeles Federal Credit Union, Travis Credit Union, and Commonwealth One Federal Credit Union to its customer ranks—raising the student lending program provider’s list clients to more than 200 credit unions.
Los Angeles Federal and Travis Credit Union have become among the latest credit unions to join the cuStudentLoans program. Los Angeles Federal joins the program as a full lending and participation partner, while Travis joined the member referral program. This allows credit unions to safely refer members to the CUSO managed network, giving members access to a no-fee, low-rate private student loan.
The program, which has grown to 145 credit union lending partners and 22 credit union referral partners, uses common underwriting and pricing and includes loan participation to reduce risks.
“Joining the cuStudentLoans program allows our members to instantly benefit from access to two great loan products in the cuScholar Private Student Loan and the cuGrad Private Student Loan Consolidation,” says Craig Stalnaker, vice president of lending at Los Angeles Federal.
“It was important for us to refer our members to a program that we could trust and was developed and managed by credit unions that are member focused,” said Stacy Fifield, Vice President, Consumer Lending at Travis Credit Union, a participant in the lender referral program that features a non-solicitation agreement to protect member sovereignty.