LAKELAND, Fla. & SAN MATEO, Calif.--(BUSINESS WIRE)--Jun. 28, 2022--
MIDFLORIDA Credit Union, one of the largest credit unions in Florida with more than 434,000 members and assets totaling more than $6.6 billion, today announced that it has partnered with Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, to provide affordable personal loans to more Floridians.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220628005498/en/
Quote from Dennis Pershing, Executive Vice President/Consumer Lending for MIDFLORIDA Credit Union (Graphic: Business Wire)
“We are excited to partner with Upstart to enhance the online lending options that will better serve existing members and allow us to attract new members across the communities we serve,” said Dennis Pershing, Executive Vice President/Consumer Lending, for MIDFLORIDA Credit Union. “With Upstart, MIDFLORIDA will be able to provide an all-digital, AI-powered consumer lending experience for affordable, fairly-priced personal loans to more Floridians.”
MIDFLORIDA became an Upstart lending partner in December 2021 and is now part of the Upstart Referral Network. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet MIDFLORIDA’s field of membership requirements and credit policies will receive tailored offers as they seamlessly transition into a MIDFLORIDA-branded experience to complete the online member application and closing process.
“We are excited to partner with MIDFLORIDA Credit Union through the Upstart Referral Network,” said Michael Lock, Senior Vice President of Lending Partnerships for Upstart. “The modern, all-digital personal lending experience Upstart provides offers credit unions like MIDFLORIDA a cost-effective and competitive means to grow memberships and loans while still remaining true to their credit standards and field of membership requirements.”
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 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 for every race, ethnicity, age, and gender, 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.
MIDFLORIDA is a state-chartered financial institution headquartered in Lakeland, Florida. The Credit Union serves more than 434,000 members with assets totaling more than $6.6 billion through its network of branches, ATMs and website, MIDFLORIDA.com. MIDFLORIDA Credit Union is open for membership to anyone who lives, works, worships or attends school within its Florida service area, which spans from Gainesville to Stuart and coast to coast.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220628005498/en/