Union Credit, TransUnion Partner to Provide Consumers with Embedded e-Commerce Options from Credit Unions

Rhea-AI Summary

TransUnion (NYSE: TRU) has partnered with Union Credit, a fintech startup, to enhance credit union offerings. This collaboration allows credit unions to provide firm, one-click credit offers at the point of purchase, targeting consumers outside their existing member base. Union Credit aims to facilitate more informed lending decisions using data and automation, thereby improving financial opportunities for individuals. Sean Flynn from TransUnion emphasized that this partnership is crucial for enhancing consumer access to credit, while Dave Buerger, CEO of Union Credit, noted the innovative data solutions provided by TransUnion will help lenders assess creditworthiness more effectively. The initiative positions credit unions to compete better in the digital marketplace, offering local, competitive, and advantageous credit options.

Positive

• Partnership with Union Credit enhances credit options for consumers.
• Union Credit enables credit unions to acquire new members from outside their ecosystems.
• Data-driven approach improves lenders' decision-making processes.
• Union Credit provides firm, one-click offers to enhance consumer convenience.

Negative

• None.

Credit unions can now extend firm, relevant credit offers to consumers upon their decision to purchase

SANTA ROSA, Calif.--(BUSINESS WIRE)-- Union Credit, a marketplace for credit unions to make firm, one-click credit offers at the point of purchase, today announced a partnership with TransUnion (NYSE: TRU) to better serve the evolving credit needs of consumers.

Union Credit is a fintech startup with a mission to help credit unions acquire new, credit worthy members from outside their ecosystems. Partnering with TransUnion enables lenders in the Union Credit marketplace to deliver consumers convenient, transparent financing in their everyday retail and financial experiences.

“Union Credit opens the doors for credit unions’ trusted relationships and competitive rates to become available in new marketplaces,” said Sean Flynn, senior director of community financial institutions at TransUnion. “We are excited to be a part of this movement by serving as the data provider of choice for their unique marketplace. Together we are empowering lenders to make more informed decisions, serve consumers more efficiently and effectively and increase financial opportunity for all.”

Data and automation will continue to play a critical role in shaping the future of lending and digital engagement. Leading credit unions recognize this, which is why a number of them have already entered Union Credit’s data-driven marketplace.

Dave Buerger, CEO of Union Credit, said, “TransUnion provides the fast, convenient access to data we need to give consumers more control over their financial opportunities. With TransUnion’s innovative trended credit attributes, algorithms, and fraud tools, Union Credit can more intelligently assess borrower creditworthiness, and help participating lenders determine appropriate loan amounts, interest rates and repayment terms, and make more relevant offers to consumers. This robust marketplace will be a game-changing product for all Americans in need of affordable credit.”

About Union Credit

Union Credit provides consumers with firm, one-click credit offers embedded within their daily activities. The marketplace helps credit unions break into new markets digitally with access to the front end of purchase and financing experiences. Merchants embedding Union Credit benefit from providing customers with local, competitive, and advantageous offers that are in the buyer’s best interest. Visit our website and follow us on LinkedIn to learn more.

About TransUnion (NYSE:TRU)

TransUnion is a global information and insights company with over 12,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good^®—and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business

View source version on businesswire.com: https://www.businesswire.com/news/home/20230406005084/en/

Samantha Wheeler

samantha@williammills.com

205-789-8136

Source: Union Credit

FAQ

What does the TransUnion and Union Credit partnership entail?

The partnership allows credit unions to make firm, one-click credit offers at the point of purchase, enhancing their ability to serve consumers.

How will TransUnion help Union Credit in the marketplace?

TransUnion will provide data solutions to assess borrower creditworthiness, helping lenders determine loan amounts and rates.

When was the TransUnion and Union Credit partnership announced?

The partnership was announced recently as part of Union Credit's launch.

What is the significance of Union Credit for credit unions?

Union Credit enables credit unions to break into new digital markets and reach potential members outside their current base.

How does Union Credit impact consumers?

Union Credit offers consumers convenient access to competitive credit offers at the point of purchase.