Patelco Credit Union Chooses Upstart For Personal Loans | Business
SAN MATEO, Calif .– (BUSINESS WIRE) – August 25, 2021–
Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced that Patelco Credit Union, a member-owned non-profit credit union serving northern California, has partnered with Upstart to offer AI-powered personal loans. to more people.
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Quote from Richard Wada, Loan Manager, Patelco Credit Union (Graphic: Business Wire)
“Our mission is to provide the best products and services to our members and to help improve their financial health and overall well-being,” said Richard Wada, Director of Loans, Patelco Credit Union. “Our partnership with Upstart’s fully digital and AI lending solution enables us to deliver more inclusive lending outside of our branch footprint and help even more people improve their financial well-being. “
An Upstart loan partner since June 2021, Patelco Credit Union will be part of the Upstart referral network. With the Upstart referral network, qualified personal loan applicants on Upstart.com who meet Patelco’s credit policies receive tailored offers as they seamlessly transition to a Patelco-branded experience to complete the online membership application and close process.
“We are thrilled to partner with Patelco Credit Union to deliver a fully digital personal lending experience that will allow them to serve more communities and grow their membership,” said Michael Lock, senior vice president of partnerships loan for Upstart. “With our AI lending platform, Patelco will be able to expand access to affordable credit.”
To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video.
Upstart (NASDAQ: UPST) is a leading AI lending platform that partners with banks and credit unions to expand access to affordable credit. By leveraging Upstart’s AI platform, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates, while simultaneously delivering the experience of exceptional digital loan demanded by their customers. Over two-thirds of Upstart loans are approved instantly and are fully automated. Upstart was founded by former Googlers in 2012 and is based in San Mateo, California and Columbus, Ohio.
About Patelco Credit Union
Patelco Credit Union, based in Dublin, California, is a non-profit credit union committed to serving the financial health and well-being of its members. With over 400,000 members primarily in and around Northern California, Patelco is committed to improving the financial well-being of its members and nurturing hope and opportunity for its members by offering solutions, advice and personalized expertise that enables them to achieve personal financial freedom. Founded in 1936 with $ 500 in assets by employees of the Pacific Telephone and Telegraph Company, Patelco is in the top percent of US credit unions with more than $ 8 billion in assets. For more information visit https://www.patelco.org/.
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PUB: 08/25/2021 09: 00 / DISC: 08/25/2021 09:02
Copyright Business Wire 2021.