CEFCU, which serves 280,000 members in central Illinois, began offering student loans in a market where almost no banks or credit unions had such a program.
In addition to offering in-school student loans, CEFCU also has received many requests from for consolidation loans from recent graduates and their parents, who are looking for ways to combine student loans to get a better handle on monthly payments.
By implementing VSoft's suite of imaging solutions, CEFCU can capture check images at their branch and merchant customer locations and transmit image cash letters for clearing.
By utilizing VSoft's comprehensive solution line, CEFCU will realize the benefits of straight through image processing from creation, processing and transmission of the check images to long-term storage and retrieval," said Murthy Veeraghanta, president, VSoft Corporation.
CEFCU was chartered to serve tribal members and employees, giving it a potential membership of 7,800.
CEFCU expects to initially offer share accounts, club accounts, money market shares, share certificates and checking, expanding its menu over the next year or two to include credit cards, IRAs and member business accounts.
072 2 State Employees CU NC $19,574,613,286 3 Pentagon FCU VA $13,969,885,029 4 BECU WA 58,604,906,842 5 Schools First FCU CA $8,020,475,477 6 The Golden 1CU CA $7,618,664,617 7 Alliant CU II $7,006,938,844 8 Security Service FCU TX $5,111,237,960 9 Suncoast Schools FCU FL $5,438,740,581 10 STAR One CU CA $5,111,237,960 11 American Airlines FTU TX $4,951,847,873 12 America first FCU UT $4,951,847,873 13 San Diego County CU CA $4,862,350,677 14 CEFCU
IL $4,191,830,193 15 Vystar CU FL $3,991,124,338 16 Alaska USAF CU AK $93,974,9903,127 17 Digital FCU MA $3.