It’s that time of year when many acceptance letters are arriving for soon-to-be college students every day.  And a big worry for many families is how to pay for that education without crippling debt.   One credit union is tackling those loan concerns with a game-changing student lending program.

A new blog entry from America’s Credit Unions - “A game-changing student lending program with zero delinquencies” -  highlights the efforts of Manchester Municipal Federal Credit Union in Connecticut to tackle this issue for their members, many who are working to put first-generation college students through school.

The credit union’s revolutionary student lending program has produced profound results for their members and a potential model for other credit unions to adopt nationwide.

One of the key elements is providing clear, manageable repayment terms and information that helps students and parents.

“It’s an eye-opening experience for students,” said CEO Lori Herrick. “They know exactly what they borrowed and what they owe. That level of awareness is rare with traditional loans.”

This story is just one of the credit union impact stories shared in America’s Credit Unions’ new Industry Update newsletter, available free to members.