SPRINGFIELD, Ill. – Twelve Illinois credit unions agreed last week to buy $100 million of bonds issued by the Illinois Student Assistance Commission to finance low-interest, federally secured loans through the Federal Family Education Loan Program to Illinois students and their families.
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This is the second commitment of funding the guaranteed student loan bonds by the credit unions, who made a similar pledge last September.
The credit unions involved in the program are: Alliant CU, Baxter CU, Citizens Equity First CU, CommonWealth CU, Corporate America Family CU, Credit Union 1, I.H. Mississippi Valley CU, ISU CU, Motorola Employees CU, Scott CU, SIU CU, and University of Illinois Employees CU.
