America First Credit Union and Intermountain Credit Union Merge

Utah Higher Education Assistance Authority was recently notified that Intermountain Credit Union (ICU) merged into America First Credit Union (AFCU).  Both credit unions have been partner lenders with UHEAA.

Effective immediately, all new Federal Family Education Loan Program (FFELP) loans for either lender should be processed through America First Credit Union using the AFCU lender code (822373).  Federal regulations require that scheduled subsequent disbursements for loans originally made through Intermountain Credit Union be re-certified.  As a result, affected borrowers must sign a new Master Promissory Note (MPN) indicating their new choice of lender.  UHEAA is currently notifying those borrowers who have a subsequent ICU disbursement.

Schools using a preferred lender list are advised to update their materials.

For additional information regarding UHEAA’s participating partner lenders, please refer to UHEAA’s Web site at:  http://www.uheaa.org/schoolsLending02.html.

Any questions related to this Bulletin should be directed to UHEAA Policy and Training at 801.321.7166, or by e-mail to mjohnson@utahsbr.edu.

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