RICHARDSON, Texas—CU REVL, LLC has acquired the assets of cuLearn, a CUSO focused on private education loan origination, the company said.
Under the terms of the transaction, CURevl said it has taken ownership of several core assets, including the client base, loan origination software and other intellectual property. In addition, CURevl said it has hired several employees from cuLearn in client management and other key roles.
The assets of cuLearn were purchased from Thrivent.
“We are extremely excited to be closing this transaction that brings some of the most prestigious credit unions and non-profit companies to our platform,” stated Lance Teinert, CEO of CURevl. “Our mission of connecting families to credit unions and delivering student loan solutions has only been enhanced by bringing on industry experts and proven technology. This is an all-around win for CURevl and the clients we serve.”
As a result of this acquisition, CURevl said it will double its number of clients and boost annual loan origination volume by over 100%.
“As a CUSO, CURevl works exclusively with credit unions, non-profits and other CUSO’s to deliver low-cost education finance products that help students and families address college affordability. We strive to help students achieve their educational goals while minimizing debt,” the company stated.
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