Fynanz Adds Sandia Laboratory Federal Credit Union to Private Student Loan Program, Surpasses 80 Credit Union Milestone

NEW YORK, Oct. 4 /PRNewswire/ -- Fynanz, Inc., the financial technology company that develops customized private student lending solutions and powers the cuStudentLoans.org private student loan marketplace, today announced the addition of Sandia Laboratory Federal Credit Union.

Sandia Laboratory FCU, a $1.5 billion credit union in Albuquerque, New Mexico, has partnered with Fynanz to be the provider of a turnkey private student lending solution for its 61,000 members.  The program, which is a customized solution tailored to the product and credit requirements of Sandia Laboratory FCU, marks the 80th credit union trusting Fynanz to power their student lending platform.

"We're pleased to be able to offer new options for members needing student loans," said Robert Chavez, EVP/COO of Sandia Laboratory FCU.  "The Fynanz programs offer more competitive interest rates and a wider variety of features than we're able to provide internally.  We think this partnership will be a win-win situation both for members and for the credit union."

"We're excited to have a credit union with the prestige of Sandia Laboratory FCU look to Fynanz in providing such an important product offering to its members," said Vince Passione, CEO and Founder of Fynanz.  "Sandia Laboratory FCU will become the 80th credit union partner that has entrusted Fynanz's industry leading technology to power their private student lending program," continued Passione.

Fynanz is now the exclusive student lending solution for 16 customized credit union programs, along with 64 credit union partners who are part of the cuStudentLoans.org marketplace through the EdAccess private student loan offering, which pools credit union funds to share loan risk and increase market reach.

About Fynanz

Fynanz, Inc. is a leading technology provider of custom private student lending programs and turn-key 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 complete origination, underwriting, servicing and marketing. Fynanz also powers cuStudentLoans.org, the leading private student lending marketplace, and currently serves more than 80 credit unions across the country. For more information, call (800) 881-8985, or visit www.fynanz.com.

About Sandia Laboratory Federal Credit Union

Sandia Laboratory Federal Credit Union is New Mexico's largest credit union by asset size, and serves over 61,000 members with eight branches in the Albuquerque metro area and two in Livermore, California. SLFCU currently holds $1.5 billion in assets and is consistently ranked among the top credit unions for total financial return to members by Callahan and Associates, Washington, D.C. (www.creditunions.com).  Formed in 1948 by employees of Sandia National Laboratories, the field of membership served by SLFCU now includes a number of companies in New Mexico and California. Employees of those companies and their family members use SLFCU for financial services that include checking, savings, home mortgages, auto loans, credit and check cards and investment services. Members enjoy a nationwide, surcharge-free ATM system and free online account services. The Credit Union is federally insured by the National Credit Union Administration.

SOURCE Fynanz, Inc.