Astera Credit Union Partners with Student Debt Repayment Application, ChangEd
Astera Credit Union recently announced they will be offering a student loan debt repayment service through their partnering with mobile debt solution ChangEd, becoming the first Michigan-based credit union to do so and the fifth nationally.
Founding brothers, Dan Stelmach and Nick Sky, built ChangEd specifically with student debt-holding millennials in mind, after feeling the burden of their own personal student loan balances. For many, student loan debt is a leading cause of financial stress that delays post-graduate goals.
Astera members will be able to download the app to their mobile device. After adding their student loan and linking their account to ChangEd, the platform beings to analyze spending data and automates savings for members through features like spare change roundups, savings BOOSTs, and more. This money then gets transferred to their ChangEd account automatically.
When users reach a set balance threshold, the funds get transferred to their student loans, all in an effort to pay extra on those loans and eliminate that debt faster. By creating a less confusing, more dependable repayment plan for student debt, ChangEd members have collectively saved millions in interest and shaved decades off their student loans.
“This partnership comes as the result of our longer-term, strategic approach to becoming known as a one-stop 'Financial Wellness' resource for our members, our Preferred Employer Partners, and for the communities we serve,” says CEO, Martin Carter. “ChangEd will provide our members with another valuable resource to help them on their path to improving their personal financial health and wellness.”
ChangEd is available to download on android and apple smart devices. To learn more visit asteracu.com.Go to main navigation