Rize Credit Union recently announced a partnership with Upstart to expand access to Personal Loans in California. This collaboration utilizes artificial intelligence to reach more consumers. The mission-driven credit union aims to meet the rising demand for accessible financial solutions. It currently holds over $1.2 billion in assets.
The partnership allows Rize to offer a scalable and digital lending experience. This helps members at various stages of their financial journey. The credit union focuses on Southern California and Southern Nevada. Consequently, more residents can now access affordable credit options through this digital platform.
Qualified applicants on the Upstart website will receive tailored loan offers. These users then transition smoothly to a Rize-branded application process. This ensures a seamless and efficient closing process for every new member. Rize joined the Upstart Referral Network for personal loans in May 2024.
“Our partnership with Upstart allows us to advance that mission through scalable, digital lending that meets members at any stage,” said Jeanine Corpuz, Chief Lending Officer at Rize Credit Union.
AI Technology Enhances Lending Access
Upstart provides a leading AI lending marketplace for its partners. This technology helps lenders approve more borrowers at lower rates. More than 90% of these loans are fully automated. This means consumers enjoy a fast, digital-first experience without human intervention.
“Through the Upstart Referral Network, Rize is able to reach more borrowers and grow its loan portfolio and expand its membership through an all-digital personal lending experience,” said Michael Lock, Senior Vice President at Upstart.
Rize Credit Union operates as a member-owned and not-for-profit institution. It has served its community for over 70 years. As a Community Development Financial Institution, Rize empowers underserved areas. This new initiative strengthens their commitment to providing Personal Loans in California for all.
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News Source: Businesswire.com
