Benzinga | Aug 25, 2021 09:06AM EDT

Upstart Reports Patelco Credit Union Partnered With Co. To Offer AI-Powered Personal Loans, No Terms Disclosed

Upstart (NASDAQ:UPST), a leading artificial intelligence (AI) lending platform, today announced Patelco Credit Union, a member-owned, not-for-profit credit union serving Northern California, has partnered with Upstart to offer AI-powered personal loans to more people.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210825005286/en/

Quote from Richard Wada, Chief Lending Officer, Patelco Credit Union (Graphic: Business Wire)

"Our mission is to bring the best products and services to our members as well as help improve their overall financial health and well-being," said Richard Wada, Chief Lending Officer, Patelco Credit Union. "Our partnership with Upstart's all-digital, AI lending solution allows us to drive more inclusive lending outside of our branch footprint and help even more people improvetheir financial wellness."

An Upstart lending partner since June 2021, Patelco Credit Union will be part of the Upstart Referral Network. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Patelco's credit policies receive tailored offers as they seamlessly transition into a Patelco-branded experience to complete the online member application and closing process.

"We are excited to partner with Patelco Credit Union to provide an all-digital personal lending experience that will enable them to serve more communities and grow their membership," said Michael Lock, SVP of Lending Partnerships for Upstart. "With our AI lending platform, Patelco will be able to expand access to affordable credit."

To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video.