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Filene teams with student loan program on Gen Y

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WASHINGTON (1/12/11)--The Filene Research Institute, Madison, Wis., has partnered with a private student lender to help its clients forge deeper relationships with young adults. The lender, Credit Union Student Choice, Washington, D.C., is a credit union service organization serving more than 175 credit unions nationwide. “Credit unions offering the Student Choice program have funded more than 21,000 loans in the last three years, and many of those borrowers are brand new credit union members,” said Mike Weber, vice president of marketing Credit Union Student Choice. “Add in the fact that our program helps credit unions connect with borrowers in their local field of membership and it’s obvious these new members present a genuine opportunity for a deeper, long-term relationship. To achieve that though, it’s imperative that credit unions have a full understanding of what it will take to successfully serve the financial needs of young adults,” he added. Student Choice will kick off the partnership by hosting two free client webinars in February and March, both of which will be delivered by Brent Dixon, Filene’s young adult advisor. The first webinar will focus on the products, services and recruiting strategies credit unions need to serve young adults. The second webinar will highlight today’s digital culture and its impact on how businesses connect with consumers.

CUDL tool helps CUs dealers comply with FACTA

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ONTARIO, Calif. (1/12/11)--CUDL has developed a new tool to assist credit unions that are looking to provide auto dealers with credit score discloser notices required by the new risk-based pricing provisions of the Federal Trade Commission’s (FTC) Fair and Accurate Credit Transactions Act (FACTA), which became effective Jan. 1. In response to credit union requests for a solution that can be made available to auto dealers, the Ontario, Calif.-based credit union service organization, which offers indirect and point-of-purchase lending services for the credit union industry, has developed a tool that allows credit unions to provide dealers with disclosure notices through the company’s lending platform. As a result, credit unions can make credit disclosure notices available to dealers that are looking for assistance in being compliant with new FACTA requirements. CU Direct Corp., parent company for the CUDL brand, also confirmed it will offer a session addressing the new FACTA risk-based pricing requirements at its 2011 Credit Union Lending Conferences, at Newport Beach, Calif. in May, and at Washington, D.C. in September.