Somerville, MA -�CPCU Credit Union launched a Back to School Loan, a unique new product geared to assist parents, young adults and educators with the growing number of costs associated with starting a new school year. CPCU has created this seasonal loan to help with the costs of textbooks, school supplies, computers, and the like. This is a service that local financial institutions in the area have not provided before.
Nowadays, schools are requiring more and more supplies from students and it can add up, especially when you add in costs for dorm room necessities or school-required uniforms. In addition, many teachers are spending out-of-pocket funds to supply their classrooms due to dwindling budgets at schools.
The Back to School Loan is available in amounts up to $2,000 and in terms of 3 months to 12 months, allowing the loan to be paid off by the start of the following school year, should another loan be needed. The loan features a lower-than-usual rate for an unsecured loan, making this solution more affordable.
"The back to school season can be an exciting time, but it can mean costly expenses for those getting ready for classes. By offering this unique loan option, we hope to alleviate the financial burden and help parents, teachers and students afford the items they need to be prepared for the school year," commented Rui F. Domingos, CEO of CPCU Credit Union.
