AI-powered, digital-first personal lending experience to serve more members
SAN MATEO, Calif.--(BUSINESS WIRE)--Jul. 21, 2021--
Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced Telhio Credit Union, a Columbus-based credit union serving members across Ohio, has partnered with Upstart to provide personal loans to better support its members and the communities it serves.
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Telhio Credit Union became an Upstart lending partner in May 2021 and will be offering personal loans powered by Upstart’s all-digital, AI-lending platform.
“Telhio selected Upstart as our partner for AI lending based on the modern, member-centric experience of its online personal loan application process,” said Derrick Bailey, Chief Sales Officer, Telhio Credit Union. “With Upstart’s AI lending platform, we will be able to improve credit access based on true risk based on over 1,000 variables without the overreliance on the traditional credit score and debt-to-income ratio to determine a borrower’s creditworthiness.”
As an Upstart lending partner, Telhio Credit Union will be part of the Upstart Referral Network. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Telhio’s credit policies receive tailored offers as they seamlessly transition into a Telhio-branded experience to complete the online member application and closing process.
“We are excited to help Telhio Credit Union expand its digital channels and offer a new personal loan product to its members in the communities it serves,” said Michael Lock, SVP of Lending Partnerships for Upstart. “Through our AI lending platform, Telhio will be able to help more creditworthy individuals improve their financial wellness and provide an all-digital personal lending experience that its members expect."
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, 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 Telhio Credit Union
Telhio Credit Union is open to anyone who lives, works, worships or goes to school in Franklin, Fairfield, Delaware, Licking, Madison, Pickaway, Union, Hamilton, Warren, Butler and Preble counties. Founded in 1934, originally as the credit union for the Columbus Telephone Co., Telhio is a not-for-profit financial cooperative where its members are also its owners. Driven by its philosophy that members come first, Telhio is committed to the highest standards of responsibility and conduct. Telhio offers a variety of innovative programs, services and products to support its members' financial needs. Telhio offers 10 branching offices throughout central and southwestern Ohio and nearly 4,000 shared branching locations nationwide. Federally insured by NCUA.
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