CEFCU is proud to announce a new option for borrowers to consolidate or refinance students loans. Credit Union members can take advantage of a Consolidation Student Loan (CSL), which allows them to consolidate all existing federal or private student loans into one loan, or refinance a single loan.
With the CSL, student loan holders can begin the easy online application process at www.cefcu.com/one. Benefits include no origination fees, 0.5% interest rate reduction for automatic payments, up to 12 years to repay, and more. There is a minimum loan amount of $5,000 with a maximum of $80,000.
Katie Mueller, CEFCU Private Student Loan Manager, stated, “I am excited that CEFCU can offer this loan product to graduates. It provides the benefit of consolidating student loans into one easy payment, which is not only more convenient, but could save borrowers money over the course of the loan.”
With assets over $5 billion, CEFCU serves over 300,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU’s website, cefcu.com; CEFCU’s Mobile website, m.cefcu.com; the surcharge-free CO-OP Network ATM; and the CU Service Center Shared Branch Network.