Genisys CU Adds CU Student Choice Private Loan Program
AUBURN HILLS, Mich. – Genisys CU said it has contracted with CU Student Choice to offer private student loans through the CUSO.
The program enables credit unions of all asset sizes and fields of membership to make private student loans that may be held on their own balance sheet to recognize the long-term economic return of the loan relationship versus a one-time referral fee.
The loans feature zero origination fees, lower interest rates, in-school deferred payment, co-signer release and graduated repayment options.
The loan is structured as a line of credit, which allows students to make multiple draws over the course of their entire college career after completing just one application.
The program was created by a CUSO organized by Callahan & Associates.