SAN MATEO, Calif .– (BUSINESS WIRE) – October 13, 2021–
Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced that Abbound Credit Union, Kentucky’s largest credit union and an advocate for financial education for youth and adults across Kentucky, has partnered with Upstart to provide personal loans in all AI-powered digital loans.
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Quote from Ray Springsteen, President and CEO, Abound Credit Union (Graphic: Business Wire)
“Our partnership with Upstart will enable Abound to create more opportunities for Kentuckians through an enhanced fully digital personal lending experience,” said Ray Springsteen, President and CEO. “With Upstart, we now have an additional channel to help the hard-working families in our service areas, including the military and civilian members we have served for over 70 years.”
Abound Credit Union became an Upstart loan partner in July 2021 and will be part of the Upstart referral network. With the Upstart referral network, qualified personal loan applicants on Upstart.com who adhere to Abound’s credit policies receive tailored offers while seamlessly transitioning to an Abound brand experience to complete the online membership application and close process.
“Upstart is proud to partner with Abound Credit Union to fuel its mission of improving the financial lives of the Kentucky families it serves,” said Michael Lock, senior vice president of loan partnerships for Upstart. “Through the Upstart referral network and our AI lending platform, Abound will be able to reach and lend to new members to improve the financial well-being of more Kentuckians.”
To learn more about Abound Credit Union and Upstart, Register now for the Wednesday October 20 webinar, “How Credit Union Executives Navigate the Digital Transformation.” 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 clients. 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 the Abound Credit Union
Abound Credit Union has been providing valuable banking solutions to help working Kentucky families prosper for over 70 years. Today, we have grown into Kentucky’s largest credit union with 18 locations, $ 1.9 billion in assets, and over 113,000 military and civilian members. The Credit Union was named Top Mortgage Lender and Best Financial Institution in 2021 in the News-Enterprise Readers’ Choice Awards and was recognized for its leadership in financial education at state and national levels. Abound Credit Union also prides itself on being one of the best places to work in Kentucky. To become a member, nothing could be simpler, visit our website at www.AboundCU.com to see how you might qualify.
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CONTACT: Mike Nelson
KEYWORD: CALIFORNIA KENTUCKY UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY SOFTWARE FINANCING INTERNET BANKING
Copyright Business Wire 2021.
PUB: 10/13/2021 9:00 a.m. / DISC: 10/13/2021 9:02 a.m.
Copyright Business Wire 2021.