Products and Services Offered Through This Provider

Private student loansprivate student loan consolidationcuStudentLoans member referral program, and residential energy efficiency loans

Who is Lendkey?

LendKey is a cloud-based technology company that provides the essential infrastructure for any party to quickly, securely, efficiently, and profitably lend to anyone else. Its platform allows credit unions to affordably set up a full-scale, fully compliant lending operation within weeks, as well as tap into a community of like-minded lenders. LendKey powers a number of student loan programs (including cuStudentLoans) and residential energy efficiency loan programs.

How do credit unions benefit from this strategic alliance?  

Over the past ten years, millions of American students and families are increasingly turning to private loans as the cost of higher education continues to outpace increases in federal student loan program limits. LendKey’s cloud-based lending platform helps your credit union quickly and profitably grow your loan portfolio and extend your reach into the crucial high school and college demographic groups.

Residential energy efficiency upgrades is an approximately $40 billion per year industry, yet many homeowners remain unaware of the financing incentives available to them. Through a new program, homeowners can instantly apply for a loan using LendKey's advanced technology and work through programs implemented by Conservation Services Group, the country’s most experienced energy efficiency experts.

Credit unions receive exceptional benefits, including immediate data on portfolio performance, while offering attractive loans to borrowers. Private student and energy efficiency loans put your credit union’s capital to work, provides an avenue for attracting new members just about to enter the prime of their borrowing lives, and supports the higher education goals of your members. 

Why this provider over another?

  • Create your own custom loan program or join an established common loan network program. For example, cuStudentLoans is a unique direct-to-consumer marketing program that uses common underwriting and pricing and provides loan participations to enhance risk mitigation.
  • Fully paperless application and document gathering that makes loan processing faster and easier.
  • The Academic Credit Score (ACS) takes into account academic criteria as well as credit data to help mitigate risk. Students apply for a new loan each year, giving them the opportunity to obtain a lower rate if their ACS improves.
  • Online tools and customer service support enable home improvement contractors to offer energy efficiency loans.
  • Monthly email billing and notifications to both borrower and co-signer help reduce default rates.
  • Direct connection between lenders and schools or contractors (for energy efficiency loans) for loan certifications and funds disbursements.
  • In-school servicing, with monthly payments made while students are still in school, helps students increase financial literacy and build their credit.

Ready to get started?  

  • Contact Brenda Halverson, CUNA Strategic Services alliance manager, at 800-356-9655, ext. 4001, or bhalverson@cuna.com.

More information about LendKey products and solutions