Credit Unions Take Top Spots in Independent Analyst Ranking of Private Student Lenders

WASHINGTON, Feb. 8 /PRNewswire/ -- Three credit unions recently found themselves as the nation's top-ranked private student lenders according to an independent analyst.

Addison Avenue FCU, NASA FCU and Northwest FCU—all of whom have partnered with Credit Union Student Choice in offering a private student lending program—were at the top of the rankings issued by Student Lending Analytics (SLA), an independent research and advisory firm focused on finding the best lenders for students.

"This recognition is well-deserved and a great example of the credit union business model, and philosophy, in action", said Jon Jeffreys, President of Credit Union Student Choice, a credit union service organization (CUSO) that provides turn-key private student lending services to nearly 100 credit unions nationwide, including the three ranked credit unions. "The ranking is a testament to these credit unions, the quality of the fair-value lending program we've built, and the ability of not-for-profit cooperatives to truly put their members' interests first."

According to the SLA website, the three credit unions garnered four stars out of a possible five.  Ratings were based on multiple factors, including expected loan cost, borrower benefit savings, loan fees, repayment options, customer service, and financial stability. SLA's Private Loan Rankings service, featured in The New York Times when it was launched in May 2009, has been used by tens of thousands of students and families searching for the lowest cost private student loans.

Since launching in May 2008, Credit Union Student Choice and its partner credit unions have now funded nearly 12,000 loans.

"Through our program, credit unions have delivered superior value to students and families, literally saving them millions over the life of these loans than if they had borrowed from many of the national lenders," said Jeffreys. "This ranking is another great example of the student lending marketplace recognizing that unique ability."

About Credit Union Student Choice

Credit Union Student Choice is a credit union service organization (CUSO) founded in 2008 by several of the nation's leading credit unions and CUSO's. It now serves nearly 100 credit unions across the country. To learn more, visit www.studentchoice.org  or call 800-237-5678.

SOURCE Credit Union Student Choice