VERNON HILLS, Ill. & SAN MATEO, Calif.--(BUSINESS WIRE)--BCU, one of the nation’s Top 100 credit unions serving over 300,000 members in the United States and Puerto Rico, today announced it has partnered with Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, to offer AI-powered personal loans to more people.
“With BCU’s focus on empowering people to discover financial freedom, we are delighted to partner with Upstart to provide an all-digital, AI-powered lending experience to reach and lend to more eligible non-members nationwide,” said Dave Brydun, Senior Vice President of Lending at BCU. “With BCU’s Workplace Banking partnerships and the Upstart Referral Network, we can deliver more inclusive lending to better serve new and existing members.”
As an Upstart lending partner since June 2021, BCU will be part of the Upstart Referral Network. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet BCU’s credit policies receive tailored offers as they seamlessly transition into a BCU-branded experience to complete the online member application and closing process.
“We are proud to partner with BCU to provide an all-digital personal lending experience to improve the financial wellness of more eligible BCU members,” said Michael Lock, SVP of Lending Partnerships for Upstart. “Through the Upstart Referral Network, BCU will be able to offer personal loans to serve more employees and families of some of America’s best workplaces and those living or working in Chicago-area communities."
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 partnering 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 exceptional digital-first lending experience their customers demand. More than two-thirds of Upstart loans are approved instantly and are fully automated. Upstart was founded by ex-Googlers in 2012 and is based in San Mateo, California and Columbus, Ohio.
BCU is a purpose-driven organization that empowers people to discover financial freedom. With over $4.9 B in assets, it’s also one of the fastest-growing Credit Unions in the last four decades. Both not-for-profit and member-owned, the Credit Union is driven by the commitment to provide extraordinary service for over 300,000 members across the US and Puerto Rico. BCU members enjoy access to financial services and well-being programming that inspire confidence through the brand promise Here Today For Your Tomorrow. Lifetime membership is offered to employees and families of America’s best workplaces and those living or working in Chicago-area communities. Learn more at BCU.org.