WASHINGTON—CU Student Choice, the leading provider of higher education financing solutions to America’s credit unions, announced its student lending solutions will now be available to the members of $8.78-billion Desert Financial Credit Union, based in Phoenix.
Desert Financial will offer Student Choice’s flagship education line of credit for undergraduate students, as well as student loan refinance.
“Having utilized a student loan referral program in the past, we are excited to now offer an in-house solution to help our members pay for college and refinance their student loans,” said Andrea Mosher, chief lending officer for Desert Financial. “With Student Choice, we’re fully in control of the programs and can set parameters for the loans that benefit both the credit union and our members.
“Desert Financial was founded by a group of teachers in 1939, so serving the educational needs of our community as a local, trusted lender is a cornerstone of our identity,” Mosher added.
“Through our partnership with the largest credit union in the state, we are incredibly excited to deliver fair-value education financing to students and families across Arizona,” said Scott Patterson, president and CEO for Student Choice. “Desert Financial and their borrowers will recognize the Student Choice difference from day one. Our education line of credit is truly unique in the marketplace, and the support and education from our staff makes it evident that this is not just a transaction, but the first step in a long-term member relationship.”
Student Choice enables credit unions of all sizes to make private education loans that are held on their own balance sheet. Since launching in 2008, the CUSO has helped nearly 300 partner credit unions originate more than $4 billion in private education loans, assisting more than 130,000 families in the process, the company said.