Fibre Federal Credit Union Selects Upstart for Personal Lending

Business Wire 28-Aug-2024 9:00 AM

Fibre Federal Credit Union (Fibre Federal), a Washington-based credit union with over 118,000 members and over $1.6 billion in assets, 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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"Fibre Federal Credit Union's mission is to improve the financial wellness of the members in our communities," said Alissa Johnson, VP Consumer Lending at Fibre Federal Credit Union. "Fibre Federal is partnering with Upstart to reach new borrowers across our field of membership and deliver personal lending through a fast, online lending experience."

Fibre Federal Credit Union started lending as a partner on the Upstart Referral Network in December 2022. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Fibre Federal's credit policies will receive tailored offers as they seamlessly transition into a Fibre Federal-branded experience to complete the online member application and closing process.

"We are proud to welcome Fibre Federal Credit Union to the family of Upstart lending partners," said Michael Lock, Senior Vice President of Lending Partnerships at Upstart. "Through the Upstart Referral Network, Fibre Federal is able to serve more individuals across Southwest Washington and Northwest Oregon."

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 Fibre Federal Credit Union:

Fibre Federal Credit Union is a $1.6 billion not-for-profit financial cooperative headquartered in Longview since 1937. Fibre Federal serves over 118,000 members in 11 counties in Southwest Washington and Northwest Oregon.

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