When Missouri high school seniors begin researching private student loans, make sure your credit union is one of their options. Starting in 2011 as an extension of the private student loan program, cuStudentLoans (through LendKey) began offering private student loan consolidations.
With more than $270 million in funded originations and an average loan size of $50,000, consolidation loans provide an impactful revenue stream for lenders. Additionally, financial institutions offering a consolidation program are well-positioned to not only serve the 22-30 year-old demographic, but to also successfully market to them on a regular basis and help promote a long-term relationship.
LendKey is a cloud-based technology company that provides the essential infrastructure for lenders to quickly, securely, efficiently and profitably lend to prospective borrowers.
Contact your MCUA field representative for more information.