UW Credit Union Adds Free Debt Protection to Private Student Loans
Madison, WI - June 17, 2016 - UW Credit Union has added Debt Protection to its private student loans. At no cost to the borrower, this new loan feature protects up to $50,000 of a borrower's outstanding aggregate loan balance if the borrower passes away.
Every in-school and refinanced student loan automatically includes Debt Protection. Borrowers and cosigners don't have to opt in or do any extra work to receive this protection. Debt Protection applies to all new loans, as well as loans previously made.
"We're committed to acting in the best interest of our members, and that's why the credit union chose to offer this benefit - we believe we're the first credit union to pay for this kind of coverage," said Mike Long, Executive Vice President & Chief Credit Officer at UW Credit Union.
In addition to providing Debt Protection for all of its private student loans, UW Credit Union is forgiving the balances of current cosigners where a borrower has died, as well as reimbursing payments made after the borrower passed away. In total, the credit union will refund members over $110,000.
"Forgiving these balances and refunding payments is simply the right thing to do for our members," said Paul Kundert, President & CEO at UW Credit Union.
All Debt Protection fees for students loans are paid by UW Credit Union.
To learn more about UW Credit Union's student loan options, visit uwcu.org/studentloans.
About UW Credit Union
UW Credit Union is a growing, federally insured financial institution and a leading provider of a full range of financial services to University of Wisconsin communities. UW Credit Union's 500 employees serve the financial needs of more than 213,000 members through world-class technology systems, and through a convenient network of 23 branch locations and over 100 ATMs. With assets totaling $2.2 billion, UW Credit Union is ranked nationally amount the leading credit unions. Founded more than 80 years ago by members of the University of Wisconsin community, UW Credit Union continues to operate as a not-for-profit, member-owned financial cooperative with locations in the Madison, Milwaukee, Stevens Point, Green Bay, Oshkosh and Whitewater areas. Visit UW Credit Union at uwcu.org to learn more.
Wednesday, October 21, 2015
October 21, 2015 – Madison, WI – CU Campus Resources is pleased to announce our newest credit union partner, University Credit Union in Los Angeles, California. University Credit Union has launched two new private student loan programs for undergraduate and graduate students in partnership with CU Campus Resources. Through this partnership, University Credit Union is now offering both a fixed and variable rate loan option to its members and to any student attending UCLA, Pepperdine, Loyola Marymount University, Loyola Law School, Mount St. Mary’s University, and OTIS College of Art and Design.
“We couldn’t be more pleased to have University Credit Union join the CU Campus Resources family. They have strong membership in their community and a great relationship with UCLA. Their private student loan products will serve their members and the credit union well,” said Mike Long, President and COO of CU Campus Resources. “The cost of education increases year over year and members are in need of financing options. Our clients are able to offer a wide range of loan programs to their members through our flexible technology platform. University Credit Union is well positioned to help their members with financing their education needs.”
“We are very pleased to bring this new private student loan program to assist members for their financial needs for students attending college,” said Paul Yang, University Credit Union’s CEO. “With our newest addition, parents and students will be able to use UCU private student loans to meet their financial needs of paying for college. We are proud to bring one of the lowest loan rates in the nation, saving money for our members. Our vision is to be the credit union of choice for all members of the educational community. Having the ability to help students achieve their dreams with our private student loans certainly helps fulfill our mission.”
Tuesday, August 4, 2015
August 4, 2015 – Madison, WI – CU Campus Resources is pleased to announce our new credit union partner, ORNL Federal Credit Union. ORNL Federal Credit Union will be launching two new private student loan programs for undergraduate and graduate students. Through our partnership, ORNL Federal Credit Union will offer fixed and variable loan options to its members.
“CU Campus Resources, through their dedicated expertise, technology and student loan program partners, enables ORNL Federal Credit Union to provide outstanding private student loan programs to our membership.
We are excited to roll out this new program, which offers a better member experience, more flexibility and more options for our members’ education financing needs,” stated Clay Kearley, Vice President of Consumer Lending at ORNL Federal Credit Union.
“We are very happy to welcome ORNL Federal Credit Union into our CUSO family. They have strong membership in their community and these products will serve their members and the credit union well,” said Mike Long, President and COO of CU Campus Resources. “As the cost of education continues to increase each year, members are in need of financing options. Our clients offer a wide range of loan programs to their members through our flexible technology platform. With these new student loan products, ORNL Federal Credit Union is well positioned to help their members with their education financing needs.”
Tuesday, June 23, 2015
June 23, 2015 – Madison, WI – CU Campus Resources is pleased to announce the launch of a new Private Student Loan Refinance program for CEFCU. Members of CEFCU can use the refinance program to consolidate their existing student loans to put themselves in a better financial position by obtaining a lower interest rate or extending their repayment term.
Katie Mueller, CEFCU Private Student Loan Manager, stated, “I am excited that CEFCU can offer this loan product to graduates. It provides the benefit of consolidating student loans into one easy payment, which is not only more convenient, but could save borrowers money over the course of the loan.”
CU Campus Resources worked with CEFCU to customize their refinance program to suit the needs of their members and their credit union. “We are excited that CEFCU is offering a private loan refinance option to its members,” added Mike Long, President and COO of CU Campus Resources. “Our system provides credit unions with the flexibility and customization required to provide their members with Private Student Loan solutions that are in their best interest as well as help credit unions achieve their strategic goals.”
Friday, September 5, 2014
September 5, 2014 – Madison, WI – CU Campus Resources is pleased to announce the launch of a new private student loan program, the USC CU Collegiate Choice Loan, with USC Credit Union. Through this new program USC Credit Union will once again be offering private student loans to its members.
“We are extremely fortunate to be a part of a great institution like the University of Southern California,” said Gary Perez, CEO of USC Credit Union. “It goes without saying that the addition of this product for the student segment of our membership, our Trojan family, is long overdue. We have positioned ourselves as the low price leader on campus and we want the students to realize all of the financial resources the credit union offers…now and long after graduation.”
“We couldn’t be more pleased to welcome USC Credit Union into our CUSO family. USC Credit Union will quickly again become one of the student lending leaders in the credit union industry,” said Mike Long, President and COO of CU Campus Resources. “As the cost of education continues to increase each year, members are in need of financing options. Our clients offer a wide range of loan programs to their members through our flexible technology platform. With the addition of their student loan, USC Credit Union is well positioned to help their members with a full suite of products.”