adminPrivate student loans allow you to diversify your portfolio and grow your business with younger members at the beginning of their credit journey for a potential lifetime of borrowing. LEVERAGE has partnered with LendKey, a leading lending technology company, that gives credit unions of all sizes the ability to digitally market, underwrite, and originate unsecured consumer loans.
LendKey helps you launch, scale, and optimize your consumer lending with our digital lending-as-a-service platform. Create your online loan offerings based on your risk policy, underwriting guidelines, and pricing, or join our proprietary participation network to mitigate risk.
With this turnkey solution, you will receive marketing support, compliance assistance, balance sheet management, and digital servicing to efficiently grow your business and serve your memberships.
Highlights of the program include:
- $10 billion annual market opportunity
- 750 average credit score
- 91 percent plus of loans are cosigned
- 40 percent serialization rate (returning borrower)
- Create relationship with members early in life for a potential lifetime of lending
- Includes all LendKey balance sheet options: full, partial, or no balance sheet
Student loan refinancing and consolidation provide immediate cashflow and attractive annual net return. Opportunities include:
- $200 billion annual market opportunity
- 765 average credit score
- Create relationship with members early in life for future cross-selling opportunities
- Includes all LendKey balance sheet options: full, partial, or no balance sheet
To learn more about how to offer LendKey at your credit union, contact us at consult@myleverage.com.
