Farmers Insurance Federal Credit Union Selects Upstart for Personal Lending
16 Agosto 2023 - 10:00AM
Business Wire
Farmers Insurance Federal Credit Union (FIGFCU), the credit
union serving predominantly members of the Farmers Insurance
community, today announced its partnership with Upstart (NASDAQ:
UPST), the leading artificial intelligence (AI) lending
marketplace, to provide personal loans to consumers across the
country.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230816377878/en/
“Farmers Insurance Federal Credit Union is committed to help
more people live their best financial lives and provide them
greater access to the products and services they need,” said Laura
Campbell, CEO of Farmers Insurance Federal Credit Union. “With
Upstart, we are able to reach more people outside of our
traditional field of membership with a FIGFCU personal loan through
a modern, all-digital lending experience.”
Farmers Insurance Federal Credit Union became an Upstart
Referral Network lending partner in December 2021. With the Upstart
Referral Network, qualified personal loan applicants on Upstart.com
who meet FIGFCU’s credit policies will receive tailored offers as
they seamlessly transition into a FIGFCU-branded experience to
complete the online member application and closing process.
“Our partnership with Farmers Insurance Federal Credit Union
provides greater access to affordable credit to more people outside
of FIGFCU’s traditional field of membership,” said Michael Lock,
SVP of Lending Partnerships for Upstart. “Through the Upstart
Referral Network, FIGFCU is able to gain new members while
providing personal loans that can improve their financial
lives.”
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 99 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, and
small-dollar “relief” loans. Upstart is based in San Mateo,
California, and Columbus, Ohio.
About Farmers Insurance Federal Credit Union
Farmers Insurance Federal Credit Union (FIGFCU) has been taking
care of the financial needs of Farmers employees and agents for
over 80 years, currently serving over 60,000 members with over $1.5
billion in assets. As a non-profit financial institution, their
members are their owners. FIGFCU offers higher savings yields and
lower loan rates than traditional financial institutions. Service
is their number one priority. To learn more, visit
http://www.figfcu.org.
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