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Fynanz Inc. closes 6.5M in Series A funding

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MADISON, Wis. (2/10/10)--Fynanz, which provides private student lending services, has closed a $6.5 million Series A round in venture funds from a group of investors. The investors are led by Draper Fisher Jurvetson, and DFJ Gotham Ventures with participation from the Brazos Group, Zelkova Ventures and JBR Media Ventures. The financing follows a previous investment led by DFJ Gotham Ventures that included Brazos and Zelkova. Fynanz will use the funds for continued national expansion of www.cuStudentLoans.org, a credit union private student lending marketplace. Private student lending fills the gap left by federal programs that have pulled out of the lending market due to tightened credit. The private student loan market has grown by more than 500% over the past decade--to $22.8 billion in 2007-2008, Fynanz said.

CUREs online service is a year old

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ALEXANDRIA, Va. (2/10/10)--Credit Union Retired Executives (CURE) is celebrating the one-year anniversary of its online service that provides free and confidential advice to credit union professionals. The service connects CURE advisers--retired credit union executives--with credit union professionals who have questions about the credit union industry. CURE’s 26 advisers have answered more than 250 questions from credit union professionals nationwide. More than 10,000 visits to the service’s site, www.curetiredexecutives.com, were recorded during December, with more than 375,000 hits recorded in the first year. Executives volunteer their services and are “enthusiastic and happy to be able to help,” according to Holly Herman, CURE executive director. CURE is a resource that can provide customized, targeted advice that addresses credit union professionals’ real-world concerns, added Juri Valdov, CURE chairman and adviser. “It’s a way for retired executives to continue to use their knowledge and history,” he said. The service is available 24 hours per day, seven days a week.