WECU Selects Upstart for Personal Lending

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)

Tags

10/23/2024 - 09:00 AM

BELLINGHAM, Wash. & SAN MATEO, Calif.--(BUSINESS WIRE)-- WECU, a Washington-based credit union with over 160,000 members and over $2.7 billion in assets, 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.

“At WECU, we believe that lives can be transformed through smart, responsible lending practices. That’s why we’re thrilled to partner with Upstart,” said Matt Berendsen, VP of Lending at WECU. “By partnering with Upstart, we are expanding access to fair and accessible loans that align with our mission of improving the financial well-being of our members and our community.”

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

“We are proud to have WECU in the family of Upstart lending partners,” said Michael Lock, Senior Vice President of Lending Partnerships at Upstart. “In partnership with Upstart, WECU is able to extend its reach beyond its direct members, helping more Washington State residents access the capital they need to improve their lives.”

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 also has offices in Columbus, Ohio and Austin, Texas.

About WECU

WECU is a member-owned, not-for-profit credit union headquartered in Bellingham, Washington. With deep roots in the community, WECU was founded in 1936 as the Bellingham Teachers Credit Union. Today, it serves over 160,000 members with more than $2.7 billion in assets. WECU is committed to enhancing the financial well-being of its members and making a positive impact in the communities it serves.