LOUISVILLE, Ky. (WDRB) -- The University of Louisville and Commonwealth Credit Union have announced a new partnership.

The credit union will be the preferred credit union for U of L faculty, staff, students and alumni.

The announcement was made Tuesday morning through a news release.

“It is important that the university partner with a credit union that not only offered a competitive array of products and services, but that also demonstrates a long-term commitment to supporting our faculty, staff, students and alumni, both individually and comprehensively,” said Harlan Sands, chief financial and operating officer and senior vice president of finance and administration for U of L in a released statement. “We are confident in Commonwealth Credit Union and believe that we have found an ideal partner.”

Officials say the credit union will have an on-campus presence and serve the university's faculty, staff, students and alumni with a full line of financial products and services.

“We are beyond excited to embark on this partnership with University of Louisville and support their efforts as one of the top universities in the country,” said Karen Harbin, Commonwealth Credit Union President and CEO. “We share many common values that really excite us. Our mission is to better lives through our passion to serve. The University of Louisville has that same passion, which allows them to make a difference nationally, much the same way we do in Kentucky.”

The credit union will also serve as an active sponsor for U of L's academic and athletic programs.

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