August 30, 2023
Cincinnati, OH (August 31, 2023) —Member Student Lending, a leading network of credit unions offering private student loan and student loan refinance lending solutions, and LendKey, a pioneer in network digital lending, today announced the list of winners for their $20,000 in college scholarships.
Twenty merit-based $1,000 scholarships were made available to members of the Member Student Lending CUSO credit unions and are one-time awards for high-achieving undergraduate students studying at an accredited four-year college or university.
“We are committed to helping our members achieve their educational goals,” said Dan Picard, Member Student Lending Board Chair. “The rising cost of tuition is a major barrier for many students, and we’re excited to match LendKey’s initial offering of ten scholarships.”
The list of winners includes members from eleven credit unions including the number of winners from each:
City of Boston Credit Union (7)
Campbell Federal Credit Union (3)
United Poles Federal Credit Union (2)
Peninsula Federal Credit Union (1)
Central Virginia Federal Credit Union (2)
Northern Star Credit Union (1)
FedChoice Federal Credit Union (1)
Garden Savings Federal Credit Union (1)
HomeTown Credit Union (1)
Applications for the scholarships opened May 1 and closed May 29, 2023. A third party, Scholarship America managed the selection process using a standardized rubric to measure candidates’ community involvement, academic achievements, and other qualifications.
“We are committed to providing financial assistance to motivated students, and we are excited to see what these talented individuals will accomplish in the future,” said Vince Passione, LendKey Founder and CEO. “We look forward to partnering with Member Student Lending again next year on this scholarship initiative.”
About Member Student Lending LLC
Member Student Lending LLC is a leading network of credit unions offering private student lending options to students and families nationwide through a turnkey digital lending solution. Formed in 2010, the CUSO is comprised of hundreds of progressive credit unions that built a member-responsive private student loan program utilizing common underwriting and pricing. Nationwide loans and a modern loan participation program allow credit unions to mitigate risk while still serving young borrowers.
LendKey, a financial technology firm and a leader in “lending-as-a-service” solutions, is focused on improving lives by making lending simple for credit unions, community banks, and their customers. LendKey partners with community-based financial institutions allowing them to digitally originate and buy and sell loans with other financial institutions and fintechs. LendKey pioneered the concept of “digital lending networks,” which harnesses the collaborative nature of community-based financial institutions to fund common lending programs. Our lending network programs focus on unique asset classes, including private student loans, student loan refinancing, and home improvement loans. These programs utilize LendKey’s lending-as-a-service platform to provide customer acquisition, online decisioning, loan origination, loan servicing, customer service, and back-office support. In addition, LendKey also offers ALIRO, an innovative deal network platform enabling financial institutions to easily buy, sell, and broker one-time and forward flow loan participations. ALIRO delivers the technology, servicing, and support that financial institutions need to evaluate and acquire loans for their balance sheets to maximize net interest income while reducing risk.
LendKey’s digital lending networks have empowered more than 350 financial institutions to offer competitively priced loan programs and increase their digital presence across various customer acquisition channels and marketplaces. LendKey currently services more than $2.8 billion in loans and has helped our financial institution clients deploy more than $6 billion in loans since 2009. Visit lendkey.com for more information.