Alliant Credit Union, a fully digital, top 10 credit union in the U.S. with more than 650,000 members and over $15 billion in assets, today announced it has partnered with Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending marketplace, to offer AI-powered personal loans nationwide.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220817005246/en/
“We are very particular when we choose a fintech partner,” said Charles Krawitz, Senior Vice President, Chief Capital Markets Officer & Head of Commercial Lending for Alliant Credit Union. “Our partners must embrace doing things the right way, with legal and risk compliance maturity. We believe Upstart has invested in robust systems that ensure borrowers are well-vetted, and that they will make a strong partner for delivering value and options to our members.”
Alliant Credit Union became an Upstart lending partner in May 2022 and is now part of the Upstart Referral Network. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Alliant’s field of membership requirements and credit policies will receive tailored offers as they seamlessly transition into an Alliant-branded experience to complete the online member application and closing process. Most credit and rate decisions will be offered in approximately five minutes, based on Alliant credit criteria.
“As a digital credit union, Alliant strives to create significant value for our members through fintech partnerships that have a similar mission to ours,” said Robert Perrelli, Vice President of Partnership Development for Alliant Credit Union. “Through our strategic partnership with Upstart, Alliant will be able to reach and lend to more creditworthy borrowers nationwide while expanding our membership through a modern, all-digital personal lending experience.”
“We are excited to have Alliant join the growing family of Upstart lending partners,” said Michael Lock, Senior Vice President of Lending Partnerships for Upstart. “As part of the Upstart Referral Network, Alliant will be able to grow its membership while providing greater access to affordable credit."
To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video.
About Upstart
Upstart (NASDAQ: UPST) is a leading AI lending marketplace 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 for every race, ethnicity, age, and gender, 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.
About Alliant Credit Union
Headquartered in Chicago and founded in 1935, Alliant Credit Union is one of the 10 largest credit unions in the U.S. with more than 650,000 members and over $15 billion in assets. As a digital credit union, Alliant’s mission is to provide members consistently superior financial value while simplifying and enabling how people save, borrow and pay. Find out more at alliantcreditunion.org.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220817005246/en/
Contacts
Upstart:
Mike Nelson
mike.nelson@upstart.com
Alliant:
Patricia Agos
patricia@akrete.com
