Cology Adds Student Loan Servicing to its Volta Platform

Transcription

1 Clgy Adds Student Lan Servicing t its Vlta Platfrm Cmpany News January 4th, 2011 dit Unin Student Lan Additinal Service Cmes as Clgy Surpasses its $1 Billin Private Lan Originatin Milestne Scttsdale, Ariz. January 4, 2011 Clgy, Inc., the student lan technlgy and prcessing experts, annunced tday the integratin f a cmplete lan-servicing mdule t its existing Vlta( TM ) cre prcessing system. Beginning in April 2011, Clgy will ffer lenders and clients the ability t chse private labeled lan riginatin, servicing, r a cmbinatin f bth ptins t ensure a seamless lan prcess. Expanding Vlta t ffer life-f-lan servicing was a natural evlutin f ur cre prcessing system and it s the perfect cmplement t ur industry-leading lan riginatin slutin, which has allwed mre new lenders and resurce prviders t serve their members than anyne in the marketplace, said Paul Rehnberg, CEO f Clgy. The life-f-lan servicing prvides unmatched prgram flexibility, cmprehensive branding attributes and the end-t-end riginatin capabilities necessary t ensure an exceptinal lender and brrwer relatinship. The servicing slutin cmes as the result f a cmprehensive technlgy develpment initiative at Clgy, which included the acquisitin, custm enhancement and integratin f private lan servicing sftware t wrk within the Vlta TM platfrm. The intrductin f lan servicing t Clgy s cre prcessing system prvides lenders f all types the ability t enter the market easily and maintain the clsest pssible relatinship with their custmers and members. Like all f Clgy s technlgy, the new servicing slutin will be available t perate in-huse, by ASP remte license, r utsurced utilizing their veteran team f back-ffice lan prcessing experts. Abut Clgy, Inc. Clgy prvides end-t-end technlgy and cre prcessing slutins fr lenders. Vlta, the cmpany s universal cre prcessing system, is the technlgy which supprts mre than 200 f the natin s resurce prviders in the educatin finance market tday. The platfrm s highly custmized client branding features, expansive lan, tuitin payment, dnr and peer prduct suite and back ffice lan prcessing experts make 1 Frm www2.clgy.cm/clgy-adds-student-lan-servicing-t-its-vlta -platfrm/ 7 March 2011

2 entering the market fast, efficient and easy. Fr additinal infrmatin n hw t becme a lending resurce fr students r t learn mre abut the cmpany visit: ### All registered r unregistered trademarks are the sle prperty f their respective wners. 2 Frm www2.clgy.cm/clgy-adds-student-lan-servicing-t-its-vlta -platfrm/ 7 March 2011

3 Citizens Equity First Credit Unin Partners with CU Campus Resurces Industry News January 4th, 2011 ent lans January 4, 2011 Madisn, WI CU Campus Resurces is pleased t annunce a new partnership with Citizens Equity First Credit Unin (CEFCU). Thrugh this partnership, CEFCU will nw ffer private educatin lans t its members. Private Student Lans are a useful alternative fr cllege students wh have exhausted the funds frm their federal student lan packages, but still need mney fr schl. We re very excited t partner with CEFCU and prvide the resurces they need t ffer Private Student Lans t their members, said Mike Lng, EVP and Chief Operatins Officer at CU Campus Resurces. Because they are utilizing this prgram, CEFCU s student members will nw be able t take advantage f this affrdable ptin t achieve their educatinal gals. CEFCU members that are attending any 4-year public r private university r ne f ver 30 2-year clleges that are within CEFCU s branch gegraphic requirements will be able t utilize CEFCU fr Private Student Lans. Mary Cnrady, CEFCU Vice President, said, Ever-rising cllege csts are making it extremely difficult fr tday s yuth t achieve their educatin gals. That is why CEFCU is pleased t ffer this lw-cst ptin fr students in need f additinal financing. The Credit Unin has partnered with CU Campus Resurces t prvide private educatin lans t members wh d nt have ther funding available, in rder t ensure that members educatin gals remain affrdable and btainable. CU Campus Resurces uses industry-leading technlgy t prvide the cre prcessing system and expert back-ffice supprt fr the prgram. CU Campus Resurces ffers a cmplete suite f private educatin lan prducts and services that participating credit unins can make available t their members. The prgram ffers turn-key slutins that can be custmized t a credit unin s unique member attributes and cllege campuses they serve. Abut CU Campus Resurces CU Campus Resurces prvides custmized student lan services and campus relatinship advisry t credit unins. CU Campus Resurces is a Credit Unin Service 3 Frm www2.clgy.cm/5-new-services-credit-unins-are-ffering/march 2011

4 Organizatin (CUSO) whlly wned by UW Credit Unin. UW Credit Unin has been active in student lending fr ver 40 years and has well-established relatinships with UW System Schls. Its current educatin lan prtfli stands at almst $400 millin. Abut CEFCU With assets ttaling ver $4.4 billin, CEFCU serves 275,000 members thrugh 19 Central Illinis Member Centers; Valley Credit Unin, a divisin f CEFCU; the CEFCU Financial Center; the Mney Center 24 ATM Netwrk; CEFCU s website, cefcu.cm; and cefcu.mbi. Abut UW Credit Unin UW Credit Unin is a grwing, federally insured financial institutin and a leading prvider f a full range f financial services t University f Wiscnsin cmmunities. UW Credit Unin s 365 emplyees serve the financial needs f mre than 154,000 members thrugh wrld-class technlgy systems, and thrugh a cnvenient netwrk f 17 branch lcatins and 93 ATMs. With assets ttaling mre than $1 billin, UW Credit Unin is ranked natinally amng the leading credit unins. Funded ver 75 years ag by members f the University f Wiscnsin cmmunity, UW Credit Unin cntinues t perate as a nt-fr-prfit, member-wned financial cperative with lcatins in the Madisn, Milwaukee, Stevens Pint, Green Bay and Whitewater areas. Visit UW Credit Unin at uwcu.rg t learn mre. Sherry Nelsn, Directr f Operatins , ext [email protected] 4 Frm www2.clgy.cm/5-new-services-credit-unins-are-ffering/march 2011

5 5 new services Credit Unins are ffering Matter December 29th, 2010 dit Unin Student Lending: Since it launched in May 2008, the Credit Unin Student Chice service rganizatin has grwn frm seven credit unin partners ffering student lans t 165, accrding t Mike Weber, the rganizatin s vice president f marketing. S far in the academic year, participating credit unins have riginated mre than $210 millin in lans, cmpared t a ttal f apprximately $158 millin fr Weber says the big jump in annual lan riginatins wes mainly t the spike in the number f affiliated credit unins. After the U.S. gvernment tk ver prcessing f all federally backed student lans, the industry had t change hw it apprached cllege lans. But Fagan says cnsumer adptin f credit unin student lans has been strng. When banks started shutting dwn sme f their lending practices, (student) lans were a natural fit fr credit unins as they tried t get that next-generatin cnsumer t jin, he says. 5 Frmwww2.clgy.cm/5-new-services-credit-unins-are-ffering/ 7 March 2011

6 Cmplete End-t-End Lan Originatin and Servicing Slutins at Yur Fingertips Fr mre than 20 years, Clgy s technlgists have been leaders in the design and develpment f student lan slutins. These scientists pineered the first electrnic signature, nline applicatin prcessing, and integrated custmer management services. Enugh abut ur credentials. At the end f the day, ur slutins nly wrk, if they wrk fr ur clients. Frm lan riginatin t servicing and everything in between. When it cmes t higher edcuatin technlgy we have smething fr yu: Design Yur Prgram The team f student lan experts at Clgy can help yu create the perfect private lan fr yur rganizatin, and build lng-term value fr yur members. The ptins are numerus and the prcess is easy. Let us shw yu hw. [see fllwing] Referral Prgrams Referral prgrams that give yu the pprtunity t ffer private student lans withut requiring yur balance sheet Turn-Key Prgrams Turn-Key prgrams that allw yu t enter the market quickly, with all the necessary applicatin, credit, pricing and terms defined Custm Prgrams Custm prgrams that can be cmpletely tailred t meet the needs f yur rganizatin and its members Then, we ll make every detail f yur implementatin is smth and seamless n time and n target! Implementatin specialists that will help yu launch the prgram successfully 6 Frm tuitinu.cm// 7 March 2011

7 Technical and business cnsultants t answer yur questins thrughut the prcess Sample dcuments and prgram manuals t help yu develp yur prduct A dedicated client manager t make sure yur Clgy experience is exceptinal, always Chse Yur Prcess: With Clgy s end-t-end cre prcessing system and veteran lan prcessing staff, the hmewrk and hard wrk is already dne! In-huse r utsurced it s yur prcess and yur decisin. See hw it can wrk fr yu. [see fllwing] Industry Veterans, Prven Technlgy Lan technlgy Fr mre than 20 years, Clgy s technlgists have been leaders in the design and develpment f student lan slutins. These scientists pineered the first electrnic signature, nline applicatin prcessing, and integrated custmer management services. Tday, that innvatin is available t ur clients thrugh Vlta, ur flagship cre prcessing system. Enugh abut ur credentials. At the end f the day, ur slutins nly wrk, if they wrk fr yu. Vlta lets yu chse a prcess that fits best with yur rganizatin and its members. Yu can utilize it in-huse by ASP remte license, utsurce t ur team f back ffice prcessing experts, r even chse a custm hybrid slutin smewhere in-between. N matter what yu chse, its seamless integratin with schls, students and service prviders gives yu the ability t manage yur brand, message and identity thrugh the entire custmer experience f yur members. Yur slutin. Yur way. That s the Clgy advantage! Custm lan types n prblem Prprietary underwriting criteria we ve gt it cvered Tailred lan prgram cmpnents whatever yu need User-friendly applicatin, riginatin, disbursement and servicing interfaces abslutely Autmated and user-generated reprting functinality like nbdy in the business 7 Frm tuitinu.cm// 7 March 2011

8 Schl certificatin prcess yep, we re interfaced with thusands f schls Flexibility, respnsiveness and speed t market the quality yur members deserve Grw Yur Business: Whether yu re an existing lender r new t the market, Clgy can help cnnect yu with thusands f clleges natinwide. We make it easy t prmte yur prducts and services t parents and students thrugh ur n-line private lan marketplace and resurce center. Take a lk. Ls [see fllwing] On-Line Tls fr Students, Parents, and Lenders Nw that yu have a new private lan up and running, it s time t cnsider just hw yu want t prmte it. Whether yu have ffered student lans frever, r are entering the market fr the first time tw things are certain a successful prgram needs t wrk within the lng-established cllege financial aid prcesses, and it has t be easy fr yur members and custmers t find and understand! That s where Clgy can help. TuitinU, ur n-line resurce center makes it easy fr schls t d business with yu and yur members. It als gives parents and students an pen, unbiased marketplace, t identify, cmpare, chse and apply fr yur private student lan! Schls can create a custm prtal, t imprve the cmmunicatin prcess with students, and manage the applicatin, certificatin and disbursement f a students private lans with lenders Parents and students can access financial planning and lan cmparisn tls, track applicatin and apprval prcesses, create their wn fundraising campaigns, and even find and qualify fr brrwer-specific dnr and spnsr resurces available Lenders can utilize the resurce center t create a unique custmer experience fr their members, interface with lng-established schl applicatin and certificatin prcesses, and access a cmplete suite f reprting, tracking and prtfli management tls 8 Frm tuitinu.cm// 7 March 2011