NEW YORK (3/21/12--Fynanz Inc., a financial technology provider of student loan marketing, education, origination and repayment solutions for credit unions and other lenders, has passed the 180 lending partners milestone.
Fynanz, a CUNA Strategic Services alliance provider, said five credit unions have become Fynanz private student lending services clients. They are:
- Linn Area CU, $285 million assets, Cedar Rapids, Iowa;
- City County CU, $300 million assets, Fort Lauderdale, Fla.;
- Hanscom FCU, $900 million assets, Hanscom Air Force Base, Mass.;
- Cornerstone Community FCU, $300 million assets, Lockport, N.Y.; and
- Sooper CU, $250 million assets, Denver.
Linn Area CU, Hanscom FCU and Cornerstone Community FCU are the most recent clients to build customized programs on the Fynanz platform, with its solutions tailored to the product and credit requirements of each credit union and its members.
City County CU and Sooper CU joined the cuStudentLoans program, which is managed by Student Lending LLC, a credit union service organization that designed the program using common underwriting and pricing. The solution also includes loan participation to mitigate risk.