Maine Savings Selects Upstart for Personal Lending
January 10 2024 - 9:00AM
Business Wire
Maine Savings, one of Maine’s largest credit unions with over
35,000 members, has announced a new partnership with Upstart
(NASDAQ: UPST), the leading artificial intelligence (AI) lending
marketplace, to provide personal loans across the communities it
serves.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240110780041/en/
“Maine Savings is committed to improving the financial
well-being of our members and offering loan products that meet the
needs of our community,” said Rick Moore, Chief Loan Officer of
Maine Savings. "By partnering with Upstart, we are able to offer a
modern, digital-first personal lending experience that helps and
brings in new members wherever they are in their financial
journey.”
Maine Savings became an Upstart Referral Network lending partner
in September 2022. With the Upstart Referral Network, qualified
personal loan applicants on Upstart.com who meet Maine Savings'
credit policies will receive tailored offers as they seamlessly
transition into a Maine Savings-branded experience to complete the
online member application and closing process.
“We are proud to have Maine Savings in the Upstart family of
lending partners,” said Michael Lock, SVP of Lending Partnerships
for Upstart. “Through the Upstart Referral Network, Maine Savings
is able to lend to more creditworthy borrowers across their
community while expanding their membership.”
To learn more about Upstart for Credit Unions and the Upstart
Referral Network, please watch this video.
About Upstart
Upstart (NASDAQ: UPST) is the leading AI lending marketplace,
connecting millions of consumers to more than 100 banks and credit
unions that leverage Upstart’s AI models and cloud applications to
deliver superior credit products. With Upstart AI, lenders can
approve more borrowers at lower rates across races, ages, and
genders, while delivering the exceptional digital-first experience
customers demand. More than 80% of borrowers are approved
instantly, with zero documentation to upload. Founded in 2012,
Upstart’s platform includes personal loans, automotive retail and
refinance loans, home equity lines of credit, and small-dollar
“relief” loans. Upstart is based in San Mateo, California, and
Columbus, Ohio.
About Maine Savings
Maine Savings, founded in 1961, is a modern financial
institution with state-of-the-art technology offering members a
full range of financial services, including RedWallet Checking.
With more than 35,000 members, 11 branches, and over 140 employees,
Maine Savings is one of Maine’s largest credit unions. Maine
Savings is committed to providing in-person services paired with
modern conveniences. Branches are located in Bangor, Bar Harbor
(Jackson Laboratory), Brewer, Corinth, Ellsworth, Hampden, Milo,
North Vassalboro, Old Town, and Portland. Maine Savings continues
to serve its membership as a federally insured not-for-profit
credit union. To learn more, visit www.mainesavings.com.
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