FOR IMMEDIATE RELEASE
Pennsylvania Community Bank Pledges Support to ICBA iHELP® Student Loan Program
Citizens National Bank Joins iHELP as a Participating Bank in Pennsylvania
Washington, D.C. (March 22, 2012)—Citizens National Bank, Meyersdale, Pa., is the latest member bank of the Independent Community Bankers of America (ICBA) to commit loan capital to the iHELP® private student loan program.
“The iHELP program is an invaluable service for students and their families, providing funding for tuition costs after other financial aid has been exhausted,” said Dan Clancy, ICBA executive vice president of services. “Many of the nation’s largest lenders are making fewer private-education loans. The iHELP program allows our nation’s community banks to ensure that within their community deserving students and their families are able to obtain loan funding. We are delighted that the Citizens National Bank is making such a significant commitment to the program and the students of Pennsylvania.”
iHELP, which was rolled out first quarter of 2010, is a simple, transparent and low-cost private lending program that is offered through local community banks to help their customers achieve their higher-education goals. iHELP was initially launched in South Dakota, home of the program’s administrator, the Student Loan Finance Corporation (SLFC), which provides ICBA community bank members with turnkey loan origination and servicing support for the program, and ReliaMax Surety, a South Dakota– domiciled insurance company providing insurance for iHELP loans. The iHELP program is now being rolled out nationwide.
“During this time when many families are struggling with reduced federal student aid, the iHELP program still allows students to achieve the dream of a higher education,” said William McDaniel, chairman of the Community Bank of Raymore and ICBA’s Bank Services Committee. “I’m glad that ICBA is able to offer this valuable program to member banks like mine.”
iHELP will begin its second full lending cycle this July through September and will have 12 states processing loans for the upcoming academic year. These states include South Dakota, Nebraska, Minnesota, Iowa, Wisconsin, Illinois, Pennsylvania, Louisiana, Georgia, Missouri, Ohio and Colorado.
“Citizens National Bank is pleased to join the iHELP program so we can offer this loan program to help our local customers,” said Samuel P. McClure, president of Citizens National Bank. “iHELP will allow us to meet our customers’ educational funding needs locally—a strength of America’s community banks. We are excited to begin working as a participating bank in this worthwhile program.”
For more information about the iHELP private student loan program, contact Ann Anderson (303) 621-2533 or firstname.lastname@example.org.