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Credit Unions Earn High Marks for Student Loan Programs

LOS ANGELES - Several credit unions have received high marks from the U.S. Department of Education for their student loan programs. USC Credit Union was ranked as the nation's 57th largest Federal Family Education Loan Program (FFELP) loan originator with $86.9 million in guaranteed loans, up from last year's $65.9...

By Staff Writer | Updated on May 18, 2004

LOS ANGELES – Several credit unions have received high marks from the U.S. Department of Education for their student loan programs. USC Credit Union was ranked as the nation’s 57th largest Federal Family Education Loan Program (FFELP) loan originator with $86.9 million in guaranteed loans, up from last year’s $65.9 million. USC CU also retains its crown as the largest credit union student loan originator in the nation, according to the DOE. University FCU in Austin, Texas, earned a 67th place ranking with $61.4 million in guaranteed loans. Other credit unions earning high marks were Navy FCU, ranked 92 with $41 million in loans; Security Service FCU in San Antonio, ranked 93rd with $40 million and America First CU in Riverdale, Utah, entering the ranking for the first time at the 99th spot with $31 million in loans. Bank One Financial Education Group held on to the top spot for 2003 with more than $3 billion in guaranteed loans last year, according to DOE.

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