Zest AI announced a partnership today with the California and Nevada Credit Union Leagues, the largest state trade association for credit unions in the United States, serving more than 12.8 million members in their respective states.
The Leagues will be teaming with CUNA Strategic Services to bring Zest’s industry-leading AI lending software to more League members. Zest-built models use thousands of data points and better math than traditional national scores to safely approve more members overlooked by legacy scoring. Credit unions using Zest software are achieving five-fold increases in instant-decisioning rates and 25% to 30% higher approvals with no added risk. Loan approvals are also more inclusive by drawing on deep insights from credit reports and loan histories in the markets served by League members.
“We’re grateful for the opportunity to help The Leagues bring AI-driven lending to credit unions of all sizes and across all consumer products,” says Jose Valentin, Vice President of Corporate Development at Zest AI. “This partnership will pay off by enriching the lives of millions of members in the form of wider access to more affordable credit.”
“For nearly 90 years, The Leagues have played an important role in ensuring the sustained health of our member credit unions,” says Larry Palochik, Senior Vice President of Member Solutions. “Zest has earned the trust of dozens of credit unions by delivering significant value in the form of faster and more consistent approvals and more inclusive decisions.”
“Credit unions need solutions that help them grow, but not at the expense of higher credit risk and compliance concerns. Zest has paid strict attention to the needs of credit unions looking to lend more effectively. This relationship is truly a game-changer for credit unions in California and Nevada, and we’re proud to collaborate with The Leagues and Zest to drive positive change,” says Barb Lowman, President of CUNA Strategic Services.