![]() 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 Del-One Federal Credit Union ($706M assets; 82,592 members; Dover, DE). Del-One will offer Student Choice’s education line of credit for undergraduate and graduate students, as well as student loan refinance options. "Del-One is committed to assisting our members on their financial journey," said Brian Kaye, Director of Consumer Lending for Del-One Federal Credit Union. “Since our founding in 1960, we’ve evolved in both name and membership, and we continue to look for new ways to better serve our members’ needs. Paying for a college education is a major financial event, and by partnering with Student Choice we can offer not only student loans, but also educational resources and support.” "We are excited to bring Del-One on board and assist its members in multiple stages of life,” said Scott Patterson, President and CEO of Student Choice. “Over the past 16 years, our data has proven that student loan borrowers continue to use their credit union for other products in the future, leading to valuable, lifelong relationships.” 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 120,000 families in the process.
0 Comments
![]() Alloya Corporate FCU announced today that Tom Slefinger, Senior Vice President of Institutional Fixed Income Sales, will step down from his leadership role at Alloya Investment Services as he transitions into a new role as the corporate’s Market Strategist. “With his passion for writing credit union-focused commentary on the economy and market events, Tom has been and will continue to be such an asset to the Alloya team and the credit unions we serve,” remarked Andrew Kohl, CFA, President of Alloya Solutions, LLC and Chief Investment Officer of Alloya. “Tom has gained quite the following over the years through his speaking engagements, Daily Market Commentary and Weekly Relative Value newsletter. We’re thrilled Tom will continue to serve members in this capacity for the foreseeable future.” Slefinger joined the corporate in 2008, serving multiple roles and eventually overseeing the broker-dealer services of the corporate’s wholly owned credit union service organization (CUSO), Balance Sheet Solutions. In 2019, the corporate’s broker-dealer services rebranded to Alloya Investment Services, a division of Alloya Solutions, LLC. Over the course of his 16-year career with Alloya and its CUSO, Slefinger managed operations associated with institutional fixed income sales and optimized portfolio performance at the credit union level. Prior to joining Alloya, Slefinger was a Senior Vice President and Principal of Van Kampen Investments, a wholly owned subsidiary of Morgan Stanley. Bill Paton, Vice President and Manager of Alloya’s Loan Participation and Subordinated Debt Programs, has been named Capital Markets Sales Director, taking over the management responsibilities of Alloya Investment Services, adding to his current management responsibilities. “Bill has done an excellent job managing our Loan Participation and Subordinated Debt sales teams and we know he will continue to excel in this role with the Alloya Investment Services sales team,” Kohl continued. With 17 years of service at Alloya, Paton has sought ongoing opportunities to expand upon the corporate’s offerings to credit unions through the launch of a Loan Participation Program and Platform, Subordinated Debt Program, Sale-Leaseback Program and now an overarching Capital Markets Program. Paton also contributes to the corporate’s monthly publication, Capital Markets Monthly, and participates regularly in speaking engagements at credit union events across the country. “Please join us in congratulating both Tom and Bill on their new roles,” Kohl concluded. “The future of Alloya’s capital markets and investment services continues to look bright.” ![]() Origence, the leading lending technology solutions provider for credit unions, raised $132,850 in its “30 Years of Impact” campaign fundraiser for Children’s Miracle Network Hospitals as part of its 30th anniversary celebration. Origence launched its “30 Years of Impact” campaign on May 27, 2024, inviting credit unions across the country to contribute a minimum of $300, with an overall goal of raising $30,000. Origence would then match the contribution to raise $30,000 more, doubling the impact of the collective gift. During Lending Tech Live, donations continued and quickly climbed past the $30,000 goal. With the outpouring of support, Origence donated an additional $10,000 for a total contribution of $40,000. The campaign ended with a total contribution of $132,850. Donors contributed online designating which Children’s Miracle Network Hospitals in their local community would receive the gift or opted to spread the support across all Children’s Miracle Network Hospitals nationwide. Top contributors included: $10,000 Donations
$5,000 Donations
“As our ‘30 Years of Impact’ campaign comes to a close, I want to extend my heartfelt thanks to all our credit union partners who participated and helped make this initiative a resounding success,” said Tony Boutelle, CEO at Origence. “Together, we have made a meaningful difference in the lives of children and families through Credit Unions for Kids / Children’s Miracle Network Hospitals. This campaign has reinforced our commitment to the principle of ‘people helping people,’ and we look forward to continuing this spirit of giving and community support in the years to come.” “Nothing is more beautiful than when partnership meets purpose. Thank you, Origence, for not only your donation but also standing shoulder to shoulder with us in our vision: Change Kids’ Health to Change the Future,” said Aimee Daily, Ph.D., president and CEO of Children’s Miracle Network Hospitals. “Along with the credit unions industry, we amplify our impact, making leaps towards a greater future for kids.” The online fundraiser ran for 30 days and concluded on June 27, 2024, at Origence’s final day of their Lending Tech Live conference hosted in San Diego, California, at the Marriot Marquis Hotel. Lending Tech Live ’24, a lending technology conference in the credit union industry, brings together credit union leaders from across the country to discuss how to serve the borrowing needs of credit union members. The conference provided insight into the latest strategies for building stronger, more profitable lending portfolios and reaching more members. Attendees also enjoyed a special celebration for Origence's 30th anniversary and heard from industry legends in a special retrospective of the last 30 years. To learn more about the conference, visit the Lending Tech Live website. ![]() The Boards of Directors of the Illinois Credit Union League (ICUL) and the ICUL Service Corporation (Envisant) jointly announced today a planned leadership transition, marking a new chapter for the organization. Effective December 31, 2024, Tom Kane will retire from the position of Chief Executive Officer. The Boards of Directors are pleased to also announce the selection of Libby Calderone, currently Envisant’s President & Chief Operating Officer, to lead the Illinois Credit Union League and Envisant as President & Chief Executive Officer effective January 1, 2025. “Today’s leadership announcement is the culmination of a successful planning process the Boards, Tom, and Libby have worked on together for the past 2 years. My fellow directors and I would like to thank Tom for his thoughtful and determined leadership and unwavering commitment to credit unions in Illinois and nationwide during his 21 years with the Illinois Credit Union System, including the last 9 as CEO of ICUL and Envisant,” said Joseph Kregul, ICUL and Envisant Board Chair. “Tom has transformed the League and Envisant, leaving us favorably positioned for a strong and successful future. We are pleased and fortunate he has agreed to stay on in a part-time advisory capacity so we can continue to draw upon his expertise.” “It has been my pleasure, privilege, and honor to lead ICUL and Envisant as CEO,” said Mr. Kane. “I want to thank the Boards of Directors, our dedicated staff, and member credit unions for their support through the years. I’ve known Libby as CEO of Earthmover Credit Union, an Envisant Board Director, and most recently as a trusted member of my Executive Team. I have great confidence her experience, track record of innovation, and passion for credit unions will position both entities to thrive into future.” With more than 3 decades in the credit union movement, Libby Calderone possesses a wealth of accomplishments and leadership experience. Prior to joining Envisant in 2018 as President & Chief Operating Officer, she served as CEO/President of Earthmover Credit Union in Oswego, Illinois. With a deep understanding of the company’s goals, vision, and values, Ms. Calderone is poised to lead the organization into its next phase of growth and innovation. Ms. Calderone said, “I am honored to be selected to lead the Illinois Credit Union League and Envisant as the organization’s first female President & CEO. I’m very appreciative of the Board’s faith in me; it’s a privilege to follow in Tom’s footsteps, whose energy and collaborative spirit are inspiring. His mark on the League and Envisant is indelible, and I have profound respect for him as a leader and friend. As we build on the foundation established in his tenure, our talented team is ready to continue providing credit unions with the resources and expertise necessary to help them thrive in today’s competitive financial landscape.” “The Boards of Directors enthusiastically endorse Libby as President & Chief Executive Officer of ICUL and Envisant. She has made a remarkable impact on the organization during her tenure and her appointment brings continuity to the organization and ensures we will continue to build on the positive momentum of the past few years,” said Mr. Kregul. ![]() Two new board directors were recently appointed to the Credit Union House (CU House) board: Samantha Beeler, president of the League of Southeastern Credit Unions (LSCU) and Caroline Williard, president/CEO of the Cornerstone League. Their terms will expire at the next Credit Union House annual meeting in March 2025. “We deeply appreciate Caroline and Samantha’s commitment to serve on the Credit Union House Board,” said CU House Board Chair and GoWest President/CEO Troy Stang. “They join us at an exciting time as we reimagine how this space tells our story in the new public policy environment. This Board will help to accomplish the vision that, when elected officials visit, they immediately see the revolutionary impact credit unions are making in their communities across the nation.” Stang added, “We also extend our thanks to Diana Dykstra, former president/CEO of the California and Nevada Credit Union Leagues, for her service on the CU House board. We wish her well as she enters retirement. CU House will always be a ‘home away from home’ for Diana whenever she is in Washington, DC.” The Credit Union House board members are:
![]() Affiliates Management Company (AMC) and FinMkt have announced a new partnership and the launch of CU DigiLend, a next-generation lending and point-of-sale financing technology for credit unions. CU DigiLend will enable credit unions nationwide to overcome dependencies on core technologies that can impede modernization. This patented technology will help credit unions compete with the banks and FinTech's doing business in their communities with sophisticated, patented technology to deploy more capital, provide members with lower-rate financing, and enhance merchant services. As the Iowa Credit Union League’s holding company, AMC has a shared mission to improve the financial lives of consumers. Through its family of companies, AMC delivers products and services to help make credit unions a trusted financial partner for consumers across the country. “We are proud to partner with FinMkt to bring CU DigiLend to credit unions,” said Matt Oakley, AMC COO. “Traditional lending platforms are limited, but CU DigiLend’s innovative platform will help credit unions serve more members by providing them with fair rates and trusted financial services from a credit union, at the point-of-sale.” The two key offerings of CU DigiLend are an exclusive “White Label” product for local merchants to access a credit union’s loan products; and a merchant “Waterfall” product that allows credit unions to offer their product options to a network of merchants. The FinMkt team, based in New York, for over 12 years, has played crucial roles in forming the framework for today’s modern software as a service model, before "fintech" and "embedded finance" were commonly used terms. FinMkt’s award-winning, patented cloud-based technology powers consumer lending and point-of-sale financing for lenders of all sizes, providing cost-effective and speed-to-market innovation. “It is an honor to collaborate with a longstanding leader in the credit union industry. The solution we have launched with AMC is best-in-class, groundbreaking technology built with credit unions and their communities’ needs in mind. Finally, credit unions have a turn-key solution to level the playing field with big banks and BNPL lenders and can provide much-needed solutions for their local businesses,” said Luan Cox, FinMkt CEO. Providing fintech agility with a credit union mission, CU DigiLend’s off-the-shelf or completely customized solutions empower credit unions and their communities to:
CU DigiLend is proud to launch with two Iowa credit unions, Peoples Credit Union and Greater Iowa Credit Union. "With CU DigiLend, we are giving our business members the power to transform customer interactions into successful sales," says Scott Zahnle, CEO at Greater Iowa Credit Union. "This tool is designed to level the playing field, enabling businesses to offer competitive financing options that attract more customers and drive sales. It's a significant step forward in how we support small businesses and empower them to differentiate themselves in the market." Jordan Hensley, CEO and President at People's Credit Union, remarks, "CU DigiLend represents a groundbreaking advancement in how we serve our business members. By providing access to innovative financing solutions, we are equipping small businesses with the tools they need to thrive in a competitive landscape. This partnership underscores our commitment to fostering growth and success for our community businesses." Full details about the CUDigiLend technology and benefits for credit unions can be found at www.cudigilend.com. Financial Plus Credit Union Partners with Sparrow to Revolutionize Trade School and College Funding7/1/2024 ![]() In an exciting leap forward for educational finance, Financial Plus Credit Union (FPCU) is thrilled to announce a dynamic partnership with Sparrow, a trailblazer in financial technology aimed at transforming the way credit unions serve the evolving needs of their communities. This partnership is set to revolutionize the student loan experience for Michigan's trade school and college students, embodying FPCU's commitment to enriching the financial well-being of its members. Through this partnership, FPCU is now proud to facilitate funding for over 88 trade schools, 30 community colleges, and 61 four-year universities throughout Michigan, ensuring a wide range of options for prospective students. For Brad Bergmooser, Chief Executive Officer of Financial Plus Credit Union, it was critical that FPCU stayed true to its communities of members. He highlights, "Our commitment to our communities has never been stronger. Our partnership with Sparrow shows that we are answering the call of the next generation as they pursue life-changing educational opportunities. We started by supporting factory and trade-workers, and are now deepening our commitment to them through an innovative, digital solution.” Addressing Michigan's Educational Financing Needs with Precision and Care FPCU's integration with Sparrow's platform marks a pivotal shift in how educational financing is approached. The platform will provide a private student loan marketplace designed to help students find the coverage they need for remaining educational costs after exhausting all scholarships, grants, work-study, and federal loans. The partnership brings to the forefront:
"We’re thrilled to launch our partnership with FPCU; utilizing Sparrow is a great complement to their growing digital reach,” expresses Harrison Hochman, CEO at Sparrow. “The collaboration will empower FPCU to meet young consumers where they are and address their evolving needs." For more details on the partnership, and to explore Sparrow’s student loan Marketplace, visit www.myfpcu.com/private-student-loans. |
Author: Mike LawsonMarried to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Archives
July 2024
Categories |