SAN MATEO, Calif .– (COMMERCIAL THREAD) – Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced that Water and Power Community Credit Union (WPCCU), one of the county’s leading credit unions of Los Angeles, has partnered with Upstart to provide personal loans to better reach new members in the communities it serves.
“With over 10 million people in the greater Los Angeles area, we’re excited to partner with Upstart to find more creditworthy borrowers and serve more members, ”said Barry Roach, president / CEO of WPCCU. “As a digitally driven, human-centric credit union, WPCCU partners with fintech companies like Upstart to meet the financial needs of our members anywhere, anytime.
WPCCU became an Upstart Lending Partner in June 2021 and will be part of the Upstart Referral Network. With the Upstart referral network, qualified personal loan applicants on Upstart.com who adhere to WPCCU’s credit policies receive tailored offers as they seamlessly transition to a WPCCU branded experience to complete the online membership application and close process.
“We are excited to partner with the Water and Power Community Credit Union to expand their personal loan offering to new members in Los Angeles County, ”said Michael Lock, senior vice president of loan partnerships for Upstart. “As an Upstart Lending Partner, WPCCU will be able to reach more borrowers and deliver the fully digital AI-powered experience that members have come to expect today. ”
To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video.
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.
About Water and Power Community Credit Union
The Water and Power Community Credit Union was formed in 1936 by a group of employees from the Downtown Los Angeles Department of Water and Electricity. Anyone who lives, works, loves, or attends post-secondary school in Los Angeles County can become a member and open an account with us. Water and Power Community Credit Union currently holds over $ 900 million in assets and has nearly 40,000 members. For more information, visit wpccu.org or call 800-300-9728.