GREENSBORO, N.C. – First Carolina Corporate CU has signed with CampusDoor to market the company’s Private Label Student Loan Solution to credit unions.
The company said the program allows for rapid market entry while minimizing upfront capital investment, and can be implemented and launched in as little as 60 days.
Among the program’s features are: product design flexibility; ongoing regulatory compliance; borrower/member support; life-of-loan servicing; collections and default prevention; and an automated application, decisioning, documentation and disbursement process. The loans are originated and serviced as the individual credit union’s assets, which allows for better risk mitigation, program administration and portfolio management.
Credit unions throughout the country are eligible to participate in First Carolina’s student loan programs, whether or not they are members.
