Seattle Credit Union Selects Upstart for Personal Lending

Seattle Credit Union, a leading credit union and Community Development Financial Institution in Washington state, has partnered with Upstart, an AI-driven lending marketplace.

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05/29/2024 - 09:00 AM EDT

SEATTLE & SAN MATEO, Calif.--(BUSINESS WIRE)-- Seattle Credit Union, a leading credit union and Community Development Financial Institution (CDFI) in Washington state with over $1 billion in assets and 55,000 members, has announced a new partnership with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, to provide personal loans to new and existing members.

“Seattle Credit Union is dedicated to serving the financial needs of our community and making prosperity a reality for our members,” said Lee Pierce, Chief Lending Officer at Seattle Credit Union. “By partnering with Upstart, we are providing a modern, all-digital consumer lending experience to reach and serve more members in our community.”

Seattle Credit Union became an Upstart Referral Network lending partner in February 2023. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Seattle Credit Union’s credit policies will receive tailored offers as they seamlessly transition into a Seattle Credit Union-branded experience to complete the online member application and closing process.

“We welcome Seattle Credit Union to the Upstart family of lending partners,” said Michael Lock, Senior Vice President of Lending Partnerships at Upstart. “As part of the Upstart Referral Network, Seattle Credit Union is expanding access to affordable credit for more members in its community looking for a personal loan on Upstart.com.”

To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video.

About Upstart

Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates across races, ages, and genders, while delivering the exceptional digital-first experience customers demand. More than 80% of borrowers are approved instantly, with zero documentation to upload. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans. Upstart is based in San Mateo, California, and Columbus, Ohio.

About Seattle Credit Union

Founded in 1933 when seven City of Seattle municipal workers with dreams of more equitable access to fairer lending practices pooled together 35 dollars, the 91-year-old organization today has 55,000 members with assets of more than $1 billion. Seattle Credit Union has a long-standing commitment to empower communities through providing equitable and affordable financial services. As a Community Development Financial Institution (CDFI), Seattle Credit Union is committed to bolstering economic vibrancy within historically marginalized communities. Learn more at seattlecu.com.