Red Rocks Credit Union selects Upstart for personal lending
SAN MATEO, CA (March 30, 2022) — Red Rocks Credit Union, a not-for-profit financial cooperative in Colorado with more than 16,000 members and $360 million in assets, today announced that it has partnered with Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, to provide personal loans to better reach and serve more members.
“As a digital-forward credit union, our goal is to help members reach their dreams through the products and services that we offer across any channel with which they want to interact,” said Darius Wise, President and Chief Operating Officer at Red Rocks Credit Union. “Our partnership with Upstart allows us to provide an all-digital personal lending experience powered by AI to lend to more creditworthy borrowers across a wider demographic in Douglas, Jefferson and Arapahoe counties, as well as outside of Colorado.”
Red Rocks Credit Union became an Upstart lending partner in December 2021 to be on the Upstart Referral Network. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Red Rocks’ credit policies will receive tailored offers as they seamlessly transition into a Red Rocks-branded experience to complete the online member application and closing process.
“We are excited to partner with Red Rocks Credit Union to expand their personal loan offering to more people across Colorado and beyond,” said Michael Lock, SVP of Lending Partnerships for Upstart. “Through the Upstart Referral Network, Red Rocks will be able to reach more people, say yes to more borrowers, and deliver a new member the modern lending experience they expect.”
To learn more about Upstart for Credit Unions and the Upstart Referral Network, please watch this video.
Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to 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, and small-dollar “relief” loans. Upstart is based in San Mateo, California, and Columbus, Ohio.