Arbor Financial Credit Union (Arbor), an award-winning credit union serving the state of Michigan, announced that it has partnered with Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, to provide personal loans to more members.
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“As a credit union dedicated to improving the financial well-being of our members, Arbor looks for ways to help more people in Michigan get access to affordable credit,” said Chris Jacobs, VP of Consumer Lending for Arbor Financial Credit Union. “In partnership with Upstart, Arbor is able to increase its reach online and provide more personal loans while gaining new qualified members.”
Arbor Financial Credit Union signed on with Upstart in September 2022 to be an Upstart Referral Network lending partner. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Arbor’s credit policies will receive tailored offers as they seamlessly transition into an Arbor-branded experience to complete the online member application and closing process.
“We are excited to welcome Arbor Financial Credit Union to the family of Upstart lending partners,” said Michael Lock, SVP of Lending Partnerships for Upstart. “As part of the Upstart Referral Network, Arbor is able to attract new members and offer them its personal loans through an all-digital lending experience.”
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Upstart is a leading AI lending marketplace 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 across races, ages, and genders, 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.
Arbor Financial Credit Union offers a complete range of financial services including personal, mortgage, and business accounts. Arbor’s purpose is to grow the financial well-being of their members. Founded in 1935, Arbor now has over 46,288 members throughout Michigan with assets of $903 million and growing
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