Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Southeast Corporate teams with Sallie Mae
TALLAHASSEE, Fla. (12/9/10)--Southeast Corporate FCU in Tallahassee, Fla., has established an arrangement with Sallie Mae to offer the Smart Option Student Loan program to member credit unions. The program is designed to assist families in meeting the rising cost of college while helping students graduate with less debt and pay off the loan faster after graduation. Students pay interest while in school and graduate with less debt, compared to other longer-term private loan alternatives in which no payments are made until after graduation, said the corporate. A typical freshman can save 30% to 50% on finance charges over the life of the loan. With the loan’s shorter repayment period, a member can pay off the loan five to eight years faster after graduation, compared to a standard 15-year interest-deferred private loan. The member may select either a $25 monthly in-school payment plan or opt to pay interest only while in school. Also available are an on-time payment reward and interest-rate discounts for automatic payments. “This opens the door for credit unions to establish a long-term financial partnership with young adults,” said Brad Miller, president/CEO of Southeast Corporate FCU.
Other Resources

RSS





print
News Now LiveWire
Watching #SuperBowlXLIX this Sunday? Look for regional #creditunion #commercials @CltMetroCU @BECU @golden1cu #Seahawks #Patriots
10 hours ago
Philadelphia's American Bakery Workers FCU liquidated by @TheNCUA; @trumarkonline assumes shares
11 hours ago
More branch shutterings by @Citi: 4th-largest bank to close 10% of #Chicago area branches HT @CrainsChicago http://t.co/2vAvgucLY5
12 hours ago
56% struggle with subprime credit scores says @cfed survey HT @washingtonpost http://t.co/RHmMvuhNtw
12 hours ago
How to use social media for crisis communications Feb. 10 webinar from @SBAgov, @AgilityRecovery http://t.co/d16t8RHr7n
13 hours ago