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CUs take top spots in private student lending
WASHINGTON (2/9/10)--Three credit unions have been ranked as top private student lenders by Student Lending Analytics (SLA). The credit unions are: Addison Avenue FCU, Palo Alto, Calif.; NASA FCU, Bowie, Md.; and Northwest FCU, Herndon, Va. They have partnered with Credit Union Student Choice to offer private student loans. Credit Union Student Choice is a credit union service organization founded to provide private student lending services to credit unions nationwide. The three credit unions generated four stars out of a possible five stars. Ratings were based on expected loan cost, borrower benefit savings, loan fees, repayment options, customer service and financial stability. The credit unions were ranked ahead of financial companies Discover, Wells Fargo, U.S. Bank, Chase, PNC, Citibank and Sallie Mae. SLA’s Private Loan Rankings service has been used by tens of thousands of individuals searching for private loans, said Credit Union Student Choice. Since launching in May 2008, Credit Union Student Choice and its partner credit unions have funded 12,000 loans.
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