LANSING, Mich. (2/1/10)--NuUnion CU in Lansing, Mich., has launched a tuition loan program for families with children who attend private kindergarten, elementary and high school. The credit union cited research that indicates the average annual cost of tuition to attend a private elementary school is $2,500, and average tuition for a private high school is $6,000 and continues to rise (PRWeb Jan. 29). Providing for a child’s private education is one of the biggest financial commitments a family can make. NuUnion’s new K-12 Education Loan offers a tuition loan program that covers both tuition and books, and comes with no fees, no prepayment penalty, and competitive interest rates. “Private school costs really add up, especially when you have more than one child, and a short-term tuition loan can make all the difference for our members,” said Teresa Mayer, NuUnion’s vice president of lending. Mayer said the K-12 Education Loan complements the credit union’s student financial aid program, Credit Union Student Choice. In 2009, NuUnion established the position of college outreach specialist to build relationships with high schools and colleges in Michigan, provide educational support in the classroom and provide financial assistance to the more than 10,000 student members helped by the Credit Union Student Choice student loan program. “We’ve been at the forefront of offering financial education to our members and communities for many years,” said Steve Winninger, NuUnion president/CEO. “Our in-class financial education, free seminars, and website resources are some examples of NuUnion’s commitment to empowering our members to be informed consumers. It’s a commitment that runs from our board of directors all the way through our organization. This is a cause we’re passionate about.” NuUnion has $807.6 million in assets.