August 15, 2024
Cincinnati, OH —Member Student Lending, a leading network of credit unions offering private student loan and student loan refinance lending solutions, and LendKey, the pioneer of digital network lending, today announced the list of winners for their $20,000 in college scholarships.
Ten merit-based $2,000 scholarships were made available to members of the Member Student Lending CUSO credit unions. These one-time awards are for high-achieving undergraduate students studying at an accredited four-year college or university.
After hearing four of the ten scholarship winners came from Los Angeles Federal Credit Union, their President and CEO Richard Lie said, “At LAFCU, we strive to provide members with financial assistance to live fulfilling lives, and we have referred many members to LendKey for their student loan needs. I’m pleased so many of the winners came from LAFCU.”
The list of winners includes members from six credit unions, including the total won from each:
Agriculture Federal Credit Union (1)
Campbell Federal Credit Union (1)
Great Lakes Credit Union (1)
Los Angeles Federal Credit Union (4)
TopLine Financial Credit Union (2)
United Poles Federal Credit Union (1)
Applications for the scholarships were open from May 1 through May 31, 2024. A third party, Kaleidoscope, managed the selection process using a standardized rubric to measure candidates’ community involvement, academic achievements, and other qualifications.
“Investing in education is investing in the future,” said Vince Passione, LendKey Founder and CEO. “We’re proud to support students through scholarships and look forward to providing more scholarships like this in the future.”
About LendKey
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.
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