Abound Credit Union Partners with Upstart to Expand Loan Access for Kentuckians
October 13 2021 - 9:00AM
Business Wire
Upstart (NASDAQ: UPST), a leading artificial intelligence (AI)
lending platform, today announced Abound Credit Union, Kentucky’s
largest credit union and an advocate of financial education for
youth and adults throughout Kentucky, has partnered with Upstart to
provide personal loans through all-digital lending powered by
AI.
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Quote from Ray Springsteen, President
& CEO, Abound Credit Union (Graphic: Business Wire)
“Our partnership with Upstart will allow Abound to create more
possibilities for Kentuckians through an enhanced all-digital
personal loan experience,” said Ray Springsteen, President &
CEO. “With Upstart, we now have an additional channel to help
hard-working families in our service areas, including the military
and civilian members we’ve served for more than 70 years.”
Abound Credit Union became an Upstart lending 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 meet Abound’s credit policies receive tailored
offers as they seamlessly transition into an Abound-branded
experience to complete the online member application and closing
process.
“Upstart is proud to partner with Abound Credit Union to fuel
their mission of improving the financial lives of the Kentucky
families they serve,” said Michael Lock, SVP of Lending
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
for the Wednesday, October 20 webinar, "How Credit Union Leaders
are Navigating Digital Transformation”. 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 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.
About Abound Credit Union
Abound Credit Union has been providing valuable banking
solutions to help hardworking Kentucky families thrive for more
than 70 years. Today, we’ve grown to become 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
2021’s Best Mortgage Lender and Best Financial Institution in The
News-Enterprise Readers’ Choice Awards and has been recognized for
its leadership in financial education at the state and national
level. Abound Credit Union is also proud to be one of the Best
Places to Work in Kentucky. It’s simple to become a Member, visit
our website at www.AboundCU.com to see how you may be eligible.
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Mike Nelson mike.nelson@upstart.com
Upstart (NASDAQ:UPST)
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