Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
First Carolina Corp. offers Sallie Mae loans
GREENSBORO, N.C. (3/2/11)--First Carolina Corporate CU has partnered with Sallie Mae to offer a student loan program for credit unions. The Smart Option Student Loan Program is designed to supplement a student's federal student loans and other financial aid to help students cover up to 100% of the education expense. In the program, students save money by paying interest while in school. Borrowers choose between a fixed $25 monthly interest payment and the full monthly interest payment. A typical freshman can save 20% to 30% on finance charges over the life of the loan and pay a loan off five to eight years faster than with a standard 15-year interest-deferred private loan, said the corporate. Credit unions participating can earn a 1% referral fee on funded loans originated from the credit unions' website link, face no credit risk since Sallie Mae assumes the risk, and use the program to attract younger members, the corporate said.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
11 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
12 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
13 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
13 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
14 hours ago