Water and Power Community Credit Union Selects Upstart for Personal Lending

September 8, 2021 at 9:00 AM EDT

SAN MATEO, Calif.--(BUSINESS WIRE)--Sep. 8, 2021-- Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced Water and Power Community Credit Union (WPCCU), a Los Angeles County premier credit union, has partnered with Upstart to provide personal loans to better reach new members in the communities it serves.

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Quote from Barry Roach, WPCCU President/CEO (Graphic: Business Wire)

Quote from Barry Roach, WPCCU President/CEO (Graphic: Business Wire)

“With over 10 million people in the greater Los Angeles area, we are excited to partner with Upstart to find more creditworthy borrowers and serve more members,” said Barry Roach, WPCCU President/CEO. “As a digital-first, human-centered credit union, WPCCU is partnering with financial technology companies like Upstart to take care of 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 meet WPCCU’s credit policies receive tailored offers as they seamlessly transition into a WPCCU-branded experience to complete the online member application and closing process.

“We are excited to partner with Water and Power Community Credit Union to expand their personal loan offering to new members across Los Angeles County,” said Michael Lock, SVP of Lending Partnerships for Upstart. “As an Upstart lending partner, WPCCU will be able to reach more borrowers and deliver an all-digital, AI-powered experience that members today expect."

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

About Upstart

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 Water and Power Community Credit Union 

Water and Power Community Credit Union was formed in 1936 by a group of employees of the Department of Water and Power in downtown Los Angeles. All people who live, work, worship or go to 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 serves nearly 40,000 members. For more information, visit wpccu.org or call 800-300-9728.

Mike Nelson

Source: Upstart