LITTLETON, Colorado and SAN MATEO, Calif.–(BUSINESS WIRE)–March 30, 2022–
Red Rocks Credit Union, a Colorado-based nonprofit financial cooperative with more than 16,000 members and $360 million in assets, today announced its partnership with Upstart (NASDAQ: UPST), an enterprise lending platform. leading artificial intelligence (AI), to provide personal loans to better reach and serve more members.
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Quote from Darius Wise, President and COO of Red Rocks Credit Union (Graphic: Business Wire)
“As a digitally-minded credit union, our goal is to help members achieve their dreams through the products and services we offer across all channels they want to interact with,” said Darius Wise, President and chief operating officer at Red Rocks Credit. Union. “Our partnership with Upstart allows us to provide an AI-powered, all-digital personal lending experience to lend to more creditworthy borrowers across a broader demographic in Douglas, Jefferson, and Arapahoe counties, as well as outside of the Colorado.”
Red Rocks Credit Union became an Upstart Lending Partner in December 2021 to become part of the Upstart Referral Network. With the Upstart referral network, qualified personal loan applicants on Upstart.com who meet Red Rocks credit policies will receive personalized offers as they transition to a Red Rocks branded experience to complete the online member application and closing process.
“We are thrilled to partner with Red Rocks Credit Union to expand their personal loan offerings to more people in Colorado and beyond,” said Michael Lock, Senior Vice President of Lending Partnerships for Upstart. “With the Upstart referral network, Red Rocks will be able to reach more people, say yes to more borrowers, and give 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 an artificial intelligence-powered lending platform that partners with banks and credit unions to expand access to affordable credit. By leveraging Upstart’s AI platform, banks and credit unions powered by Upstart can have higher approval rates and lower loss rates for every race, ethnicity, age and sex, while simultaneously delivering the exceptional digital lending experience their customers demand. More than two-thirds of Upstart loans are approved instantly and are fully automated. Upstart was founded by former Googlers in 2012 and is based in San Mateo, Calif., and Columbus, Ohio.
About Red Rocks Credit Union
Red Rocks Credit Union was established in 1979 to serve employees of Martin Marietta (now Lockheed Martin). Today, Red Rocks is available to anyone who lives or works in Douglas, Arapahoe or Jefferson County, Colorado. Members of the Consumers United Association and the Made to Impact Foundation are also eligible. Red Rocks is a not-for-profit financial cooperative with over 16,000 members and $360 million in assets. With a location in Highlands Ranch, the credit union serves the needs of the local community with convenient branch access and expands its reach with online and mobile banking platforms and no-surcharge ATMs nationwide through the Co- Op. For more information, visit redrocks.org.
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CONTACT: Mike Nelson
KEYWORD: CALIFORNIA COLORADO UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: FINANCIAL DATA MANAGEMENT PROFESSIONAL SERVICES SOFTWARE TECHNOLOGY
Copyright BusinessWire 2022.
PUBLISHED: 03/30/2022 09:00/DISC: 03/30/2022 09:02
Copyright BusinessWire 2022.