Diamond Credit Union Selects Upstart for Personal Lending

Business Wire 20-Jun-2024 9:00 AM

Diamond Credit Union, a leading credit union in Pennsylvania holding over $1 billion in assets with over 64,000 members, has announced a new partnership with Upstart (NASDAQ:UPST), the leading artificial intelligence (AI) lending marketplace, to provide personal loans to new and existing members.

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"At Diamond Credit Union, we aim to guide, grow, and give back to every member of our community," said Lori Levengood, Senior Vice President and Chief Lending Officer at Diamond Credit Union. "With our expanded community charter, our partnership with Upstart allows us to broaden and diversify our reach to serve more members through an all-digital, personal lending experience."

Diamond Credit Union became an Upstart Referral Network lending partner in April 2023. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Diamond Credit Union's credit policies will receive tailored offers as they seamlessly transition into a Diamond Credit Union-branded experience to complete the online member application and closing process.

"We welcome Diamond Credit Union to the Upstart family of lending partners," said Michael Lock, Senior Vice President of Lending Partnerships at Upstart. "Through its partnership with Upstart, Diamond Credit Union is increasing access to affordable credit for new and existing members across the communities it serves."

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

About Upstart

Upstart (NASDAQ:UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 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, home equity lines of credit, and small-dollar "relief" loans. Upstart is based in San Mateo, California, and Columbus, Ohio.

About Diamond Credit Union

Diamond Credit Union is the 14^th largest credit union in Pennsylvania and is headquartered in Pottstown, Pa., with seven additional free-standing branches. Diamond serves Berks, Montgomery, Chester and Bucks Counties, and holds over $1 billion in assets with over 64,000 members. For more information about Diamond Credit Union, please visit diamondcu.org.

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