Firstrust Bank Leads $1 Billion Banking Facility for College Ave

CONSHOHOCKEN, Pa., Sept. 16, 2024 /PRNewswire/ -- Firstrust Bank as lead bank for College Ave has arranged a $1 billion banking facility to help fuel the continued growth and success of College Ave's student loan program. This collaboration demonstrates Firstrust Bank's commitment to innovation through Banking-as-a-Service (BaaS) solutions.

"Firstrust's role as the lead banker in this partnership demonstrates our capacity to support large-scale lending operations, leveraging our banking infrastructure to facilitate the distribution of student loans with a specialized solution provider like College Ave," said Richard J. Green, Executive Chairman and Owner of Firstrust Bank. "This partnership underscores Firstrust's commitment to support and empower our customers with innovative financial solutions. We look forward to continuing to work closely with College Ave to deliver exceptional value and service."

"College Ave is excited to continue to partner with Firstrust Bank as the lead bank for our banking facility," said Joe DePaulo, Co-Founder, Chairman and Chief Executive Officer of College Ave. "We've been clients of Firstrust since 2015, and they have helped us along the way as we've grown. With Firstrust as our lead bank for our banking facility, we can focus on customer acquisition and servicing, without the complexities of operating as a bank."

Firstrust Bank, The Official Bank of the Philadelphia Eagles, and its wholly owned subsidiary Hatch Bank are trusted and experienced partners to technology-enabled companies, like College Ave, who need sophisticated, complex BaaS and loan structures.

Contact Andrew Tauber at Firstrust Bank at [email protected] or John Marion at Hatch Bank [email protected] to schedule a consultation.

About Firstrust Bank

Founded in 1934, with assets of more than $5 billion, Firstrust Bank is the greater Philadelphia region's largest family-owned financial institution, one of the region's largest and strongest full-service commercial banks, and one of the most consistently top-performing banks in the Nation. Firstrust is currently in its third generation of family management, operating as Philadelphia's Hometown Bank^®, and the Official Bank of the Philadelphia Eagles. For more information, visit firstrust.com or call 800-220-BANK. Member FDIC.

College Ave

College Ave started with a big vision and a simple mission - take the stress out of paying for college so students can focus on preparing for a bright future. Now a leading fintech lending company, College Ave remains committed to using best-in-class technology and deep industry expertise to deliver practical and personal solutions that give young adults a running start on their roads to financial success. We offer best-in-class products with competitive rates and a customer-friendly experience from start to finish. Visit: www.collegeave.com.

SOURCE Firstrust Bank