The PennZone

CONSHOHOCKEN, Pa., Sept. 16, 2024 ~ Firstrust Bank, known as the Official Bank of the Philadelphia Eagles, has recently taken on a new role as the lead bank for College Ave's student loan program. This partnership, which includes a $1 billion banking facility, is a testament to Firstrust Bank's commitment to innovation through Banking-as-a-Service (BaaS) solutions.

According to Richard J. Green, Executive Chairman and Owner of Firstrust Bank, their involvement in this collaboration showcases their ability to support large-scale lending operations. By leveraging their banking infrastructure, they are able to facilitate the distribution of student loans with specialized solution provider College Ave. Green also emphasized that this partnership highlights Firstrust's dedication to providing innovative financial solutions for their customers.

On the other hand, Joe DePaulo, Co-Founder, Chairman and Chief Executive Officer of College Ave, expressed his excitement about continuing their partnership with Firstrust Bank as the lead bank for their banking facility. DePaulo noted that they have been clients of Firstrust since 2015 and have received valuable support as they have grown. With Firstrust as their lead bank for the banking facility, College Ave can focus on customer acquisition and servicing without having to deal with the complexities of operating as a bank.

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Firstrust Bank's wholly owned subsidiary Hatch Bank is also a trusted partner in this collaboration. They are experienced in providing sophisticated and complex BaaS and loan structures for technology-enabled companies like College Ave. Those interested in learning more about these services can contact Andrew Tauber at Firstrust Bank or John Marion at Hatch Bank to schedule a consultation.

This partnership between Firstrust Bank and College Ave demonstrates how two companies can come together to fuel growth and success in the student loan industry. With Firstrust's expertise in BaaS solutions and Hatch Bank's experience in complex loan structures, this collaboration is sure to bring exceptional value and service to customers.

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