NEW YORK, March 20, 2012 /PRNewswire/ -- Fynanz, Inc., the financial technology provider of student loan marketing, education, origination and repayment solutions for lenders, today announced the addition of Linn Area Credit Union (IA), City County Credit Union of Fort Lauderdale (FL), Hanscom Federal Credit Union (MA), Cornerstone Community Federal Credit Union (NY), and Sooper Credit Union (CO), raising their total client list to over 180 partners who are leveraging their private student lending technology.
Linn Area Credit Union, a $285 million credit union serving over 25,000 members in Iowa, Hanscom Federal Credit Union, a $900 million credit union serving over 45,000 members in Massachusetts, and Cornerstone Community Federal Credit Union, a $300 million credit union serving over 45,000 members in Upstate New York, are the most recent credit union clients to build customized programs on the Fynanz platform. Fynanz solutions are tailored to the product and credit requirements of each individual credit union and its members.
"Fynanz' customizable platform and holistic approach to student lending were the best fit for our members' higher-education financing needs," said Tracy Molander, Vice President of Lending of Linn Area Credit Union. "Choosing Fynanz allows us to quickly enter private student lending with a turn-key program that our members can trust," added Tom Becker, Vice President of Lending at Hanscom Federal Credit Union.
City County Credit Union of Fort Lauderdale, a $300 million credit union serving Florida residents in 21 counties, and Sooper Credit Union, a $250 million credit union based in Colorado serving members in four states, have become the latest credit union lending partners to join the cuStudentLoans program. The program is managed by Student Lending, LLC, a CUSO that designed the program using common underwriting and pricing, which also includes loan participation to enhance risk mitigation.
"The cuStudentLoans program will allow our credit union to serve our existing members with a new and valuable loan product. In addition, the design of this program provides us a unique opportunity to continually build our member base of creditworthy Florida residents," said Lloyd Gill, President and CEO of City County Credit Union of Fort Lauderdale.
"Offering a private student loan program was a natural fit for our credit union, "said John Purcell, Vice President of Lending at Sooper Credit Union. "We believe there is a real need for private student loans. Fynanz will help us provide this product to help members manage the cost of education. In turn, the program will help us grow membership with college students in the market for other financial service products as well."
"Credit unions nationwide continue to recognize private student lending as an important new asset class," said Jim Merrill Senior Vice President of Sales at Fynanz. "In addition, our comprehensive technology platform provides a total solution that includes financial literacy via the Fynanz College Resource Center and marketing support to ensure that members understand our credit union client's commitment to serving their higher education financing needs."
Fynanz, Inc. is a leading technology provider of custom private student lending programs and solutions. Fynanz pioneered innovative technology that easily puts lenders into the private student lending business without the need to purchase or install any software. This end-to-end integrated solution includes marketing, education, underwriting, origination and servicing. The Fynanz platform also powers cuStudentLoans, the leading private student lending program, and currently serves more than 180 credit unions across the country. For more information, call (800) 881-8985, or visit www.fynanz.com.
Christian Widhalm, Fynanz, Inc.
SOURCE Fynanz, Inc.