FOR IMMEDIATE RELEASE
ICBA Member Community Bank Makes Commitment iHELP Student Loan Program in Iowa
Washington, D.C. (August 25, 2010)-The Independent Community Bankers of America (ICBA) is pleased to announce that ICBA member Manufacturers Bank and Trust in Forest City, Iowa, has made a significant commitment of loan capital to support the iHELPTM private student loan program as the originating lender for the state of Iowa. ICBA is also pleased to announce that the iHELPTM program is being rolled out in Iowa and other states nationwide just as students are preparing to head back to campus for this year's fall semester.
"ICBA welcomes Manufacturers Bank and Trust as the third originating lender to jump on board and make such a significant commitment to this program," said Dan Clancy, ICBA senior vice president of services. "The iHELPTM private student loan program helps our nation's community banks to provide funding within their communities to students and their families, especially during these challenging times when funding is needed most."
Formed and operated by the Student Loan Finance Corporation (SLFC) and ReliaMax Surety, the program has been designed specifically for ICBA member community banks. iHELPTM is a very simple and transparent, low-cost, private lending program that helps community bank customers achieve their higher-education goals and helps meet the funding gap between the cost of education and other available forms of financial aid. Launched in November 2009, iHELPTM was initially rolled out in South Dakota, home of the program's administrator, SLFC, which also provides ICBA members with turnkey loan origination and servicing support for the program, and ReliaMax Surety, a South Dakota-domiciled insurance company providing insurance for ICBA's iHELPTM loans.
"Manufacturers Bank & Trust is excited to help make a strong commitment to the educational needs of our customers and communities," said Dennis Busta, executive vice president of Manufacturers Bank and Trust. "iHELPTM will allow us to meet our customers' educational funding needs locally, which is the strength of America's community banks. And because Manufacturers Bank & Trust will be both an originating and participating bank, we also have the opportunity to help other ICBA member banks attain the same goal within their respective communities through participation agreements."
For more information about ICBA's iHELPTM private student loan program, contact Ann Anderson at (303) 621-2533 or firstname.lastname@example.org.