First Carolina Corporate Credit Union has announced a new partnership with student loan provider CampusDoor to bring a private-label student loan program to participating credit unions.
"Our members told us they wanted a program where the credit union actually funds the loan," David Brehmer, CEO of the Greensboro, N.C., corporate said in an interview. The CampusDoor program – which Brehmer indicated would be open to any credit union, not just to First Carolina members – allows that.
"This program will complement existing student loan programs," added Brehmer. Other, popular student loan programs operating through credit unions often effectively outsource the loan, removing the credit union from the actual funding.
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