Texans Credit Union Selects Upstart for Personal Lending

July 10, 2024 at 9:00 AM EDT

RICHARDSON, Texas & SAN MATEO, Calif.--(BUSINESS WIRE)--Jul. 10, 2024-- Texans Credit Union, one of the largest credit unions in Texas with more than 123,000 members and $2.2 billion in assets, has announced their partnership with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, to offer personal loans to consumers.

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“Our growth strategy is focused on finding the best ways to assist people to meet their financial goals,” said David Frazier, President and Chief Executive Officer at Texans Credit Union. “Through Upstart’s AI lending marketplace, we are expanding how we reach and lend to more Texans during key milestones in their lives.”

“We are always on the lookout for complementary technology partners that can help meet the modern needs of our growing membership,” said Mike McWethy, Executive Vice President at Texans Credit Union. “Our partnership with Upstart is a great example of how we can use AI to extend our lending capabilities with a fast, digital experience.”

Texans Credit Union started lending as a partner on the Upstart Referral Network in August 2023. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Texans Credit Union’s credit policies will receive tailored offers as they seamlessly transition into a Texans Credit Union-branded experience to complete the online member application and closing process.

“We are proud to have Texans Credit Union as one of Upstart’s lending partners,” said Michael Lock, Senior Vice President of Lending Partnerships at Upstart. “As a partner on the Upstart Referral Network, Texans Credit Union is able to provide personal loans to help more Texans achieve their financial goals.”

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

About Upstart

Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates across races, ages, and genders, while delivering the exceptional digital-first experience customers demand. More than 80% of borrowers are approved instantly, with zero documentation to upload. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans. Upstart is based in San Mateo, California, and Columbus, Ohio.

About Texans Credit Union

Texans Credit Union is a not-for-profit financial institution serving North Texas members since 1953. Headquartered in Richardson, Texas, Texans Credit Union has more than 120,000 members and $2.2 billion in assets. Our mission is to provide members with exceptional service, value and financial products to help individuals achieve their financial goals. We offer a full range of banking services, including checking and savings accounts, loans, mortgages, credit cards and investment options. Texans Credit Union is one of the largest credit unions in the state. For more information, please visit texanscu.org or follow us on LinkedIn, Facebook and Twitter.

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Source: Upstart