The $360 million UMassFive College Federal Credit Union of Hadley, Mass. has lent approximately $1 million to students at the University of Massachusetts Amherst during the 2011-2012 school year, the credit union announced.
This announcement brings the total amount of dollars the credit union has lent to UMass Amherst students to $7 million since launching its private student lending program in 2009, UMassFive College FCU said.
UMassFive College FCU offers private student loans through a partnership with Credit Union Student Choice, a Washington, D.C.-based CUSO that allows its more than 200 credit union partners to make private student loans and hold them on their own balance sheets.
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