NAFCU Services Announces Upstart as Preferred Partner for its AI Loan Platform for Credit Unions
ARLINGTON, Virginia – (COMMERCIAL THREAD) –NAFCU Services announced today that Reached is the most recent Preferred Partner to join its program serving credit unions. Through this partnership, credit unions will have better access to Upstart’s AI lending platform, designed to expand access to affordable credit for their members, while making excess deposits work, increasing approval rates and reducing loss rates. The partnership was approved following a rigorous and independent review and voting process by CEOs of credit unions. Through its platform, Upstart helps credit unions deliver the exceptional digital lending experience that members demand.
âWe are proud to welcome Upstart as a partner as they are seriously dedicated to strengthening credit unions and improving the member experience,â said Randy Salser, President of NAFCU Services. âUpstart is continually looking for ways to help credit unions place excess deposits. work while developing their consumer credit portfolio and acquiring new members.
âWe believe it is important for credit unions to help provide access to affordable credit to members of their community,â said Michael Lock, senior vice president of loan partnerships at Upstart. “We are excited to join the NAFCU community and empower credit unions with cutting edge AI consumer lending technology to help them grow and exceed members’ expectations for personal and auto loans.”
To learn more about Upstart, visit www.nafcu.org/upstart.
About NAFCU Services
As a member of the National Association of Federally-Assured Credit Unions, NAFCU Services provides trusted and approved funding, educational content and a portfolio of preferred partners. For over 40 years, we have served credit unions across the country. Our team of partners offers revolutionary ideas and next-generation solutions, enabling credit unions to compete, change the status quo and grow their institutions. For more information, visit our website and follow us on Twitter.
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.