Education Loan Source, Inc. (ELS), a leading provider of education financial solutions, is proud to announce the launch of a private student loan program customized specifically for members of Louviers Federal Credit Union (LFCU).
“Our credit union conducted a thorough review of three student loan programs and decided that ELS was the best solution for us. We chose ELS based upon their ability to fully customize our program to meet the unique needs of our membership and existing school relationships as well as their extensive knowledge of the student loan industry. ELS is great to work with – they have maintained excellent lines of communication to keep us informed and educated from start to finish and have quickly responded to meet our needs,” says Bob Walls, Director of Human Resources and Special Projects for LFCU.
The Custom Loan Source SM (CLS) Program offered by ELS provides credit unions with the opportunity to develop their own customized student loan without the need for additional staffing or resources. CLS is a turn-key student loan solution which includes every aspect of the student loan process including set-up, administration, marketing, branded online application, loan processing, underwriting, certification and disbursement with colleges and universities, loan servicing, and portfolio management.
According to Tracy Sniscak, SVP – Business Development for ELS, “CLS is a perfect fit for LFCU as it allows the credit union to bring their own corporate lending standards and philosophies to an education loan program. LFCU was able to set their own rates and fees, and define their own school list. The credit union has an existing relationship with the University of Delaware and this new program will allow them to continue to offer financial assistance to the students there as well as at other regional schools. It’s been a pleasure to help them create and develop a program that meets the needs of their members.”