Pelican State Credit Union Selects Upstart for Personal Lending
Pelican State Credit Union, Louisiana's largest state-chartered credit union serving over 50,000 members nationwide, has partnered with Upstart (NASDAQ: UPST) to expand its personal lending operations. The partnership, initiated in August 2024, integrates Pelican into the Upstart Referral Network, enabling qualified loan applicants on Upstart.com to receive tailored offers through a Pelican-branded experience.
Through this collaboration, Pelican aims to digitally reach new prospective members across the Southern United States, offering them access to affordable credit. The partnership leverages Upstart's AI lending marketplace to provide a fast, digital-first lending experience while helping Pelican grow and diversify its membership and loan portfolio.
Pelican State Credit Union, la più grande credit union statale della Louisiana che serve oltre 50.000 membri in tutto il paese, ha stipulato una partnership con Upstart (NASDAQ: UPST) per espandere le sue operazioni di prestiti personali. La partnership, avviata nell'agosto 2024, integra Pelican nella Upstart Referral Network, consentendo agli aspiranti a mutui qualificati su Upstart.com di ricevere offerte personalizzate attraverso un'esperienza a marchio Pelican.
Attraverso questa collaborazione, Pelican mira a raggiungere digitalmente nuovi potenziali membri nel sud degli Stati Uniti, offrendo loro l'accesso a finanziamenti accessibili. La partnership sfrutta il marketplace di prestiti AI di Upstart per fornire un'esperienza di prestito rapida e digitale, aiutando nel contempo Pelican a crescere e diversificare la propria base di membri e il portafoglio di prestiti.
Pelican State Credit Union, la cooperativa de crédito más grande de Louisiana que atiende a más de 50,000 miembros en todo el país, se ha asociado con Upstart (NASDAQ: UPST) para expandir sus operaciones de préstamos personales. La asociación, iniciada en agosto de 2024, integra a Pelican en la Upstart Referral Network, lo que permite a los solicitantes de préstamos calificados en Upstart.com recibir ofertas personalizadas a través de una experiencia de marca Pelican.
A través de esta colaboración, Pelican busca alcanzar digitalmente a nuevos miembros potenciales en el sur de los Estados Unidos, ofreciéndoles acceso a crédito asequible. La asociación aprovecha el mercado de préstamos de IA de Upstart para proporcionar una experiencia de préstamo rápida y digital, al mismo tiempo que ayuda a Pelican a crecer y diversificar su membresía y cartera de préstamos.
펠리컨 주립 신용 조합(Pelican State Credit Union)은 루이지애나에서 가장 큰 주립 면허 신용 조합으로, 50,000명 이상의 회원에게 서비스하고 있으며, 업스타트 (NASDAQ: UPST)와 협력하여 개인 대출 운영을 확장합니다. 이 파트너십은 2024년 8월에 시작되었으며, 펠리컨을 업스타트 추천 네트워크에 통합하여 Upstart.com에서 자격이 있는 대출 신청자가 펠리컨 브랜드의 경험을 통해 맞춤형 제안을 받을 수 있도록 합니다.
이 협력을 통해 펠리컨은 미국 남부 전역에서 새로운 잠재 회원에게 디지털로 도달하여 저렴한 신용에 접근할 수 있도록 하고자 합니다. 이 파트너십은 업스타트의 AI 대출 마켓플레이스를 활용하여 신속하고 디지털 우선의 대출 경험을 제공하고, 펠리컨이 회원과 대출 포트폴리오를 성장 및 다양화하는 데 도움을 줍니다.
Pelican State Credit Union, la plus grande coopérative de crédit de l'État de Louisiane, qui dessert plus de 50 000 membres dans tout le pays, a noué un partenariat avec Upstart (NASDAQ: UPST) pour étendre ses opérations de prêts personnels. Ce partenariat, lancé en août 2024, intègre Pelican dans le Upstart Referral Network, permettant aux candidats aux prêts qualifiés sur Upstart.com de recevoir des offres personnalisées via une expérience de marque Pelican.
Avec cette collaboration, Pelican vise à atteindre numériquement de nouveaux membres potentiels dans le sud des États-Unis, leur offrant un accès à un crédit abordable. Le partenariat tire parti du marché de prêt AI d'Upstart pour fournir une expérience de prêt rapide et axée sur le numérique, tout en aidant Pelican à croître et à diversifier son portefeuille de membres et de prêts.
Pelican State Credit Union, die größte staatlich lizenzierte Kreditgenossenschaft in Louisiana, die über 50.000 Mitglieder im ganzen Land betreut, hat sich mit Upstart (NASDAQ: UPST) zusammengetan, um ihre persönlichen Kreditoperationen zu erweitern. Die Partnerschaft, die im August 2024 initiiert wurde, integriert Pelican in das Upstart Referral Network, was qualifizierten Kreditbewerbern auf Upstart.com ermöglicht, maßgeschneiderte Angebote über ein Pelican-gebrandetes Erlebnis zu erhalten.
Durch diese Zusammenarbeit möchte Pelican digital neue potenzielle Mitglieder im Süden der Vereinigten Staaten erreichen und ihnen Zugang zu erschwinglichem Kredit bieten. Die Partnerschaft nutzt den KI-Kreditmarktplatz von Upstart, um ein schnelles, digital orientiertes Kreditnehmerlebnis zu bieten und Pelican gleichzeitig zu helfen, seine Mitgliedschaft und Kreditportfolio zu wachsen und zu diversifizieren.
- Partnership expands Upstart's lending network reach in the Southern United States
- Addition of Louisiana's largest state-chartered credit union (50,000+ members) to platform
- Enhances Upstart's credit union partnership portfolio
- None.
Insights
The partnership with Pelican State Credit Union, Louisiana's largest state-chartered credit union serving over 50,000 members, marks another strategic win for Upstart's credit union expansion strategy. This demonstrates continued momentum in Upstart's efforts to penetrate the traditional lending market through its AI-powered platform.
The deal's significance lies in several key aspects: First, it expands Upstart's geographical footprint in the Southern United States, a region with significant growth potential for personal lending. Second, the partnership model through the Upstart Referral Network represents a capital-light approach to growth, where Upstart generates revenue through referral fees without taking on credit risk. Third, securing Louisiana's largest state-chartered credit union as a partner adds credibility to Upstart's AI lending platform.
For investors, this partnership signals positive momentum in Upstart's core business strategy of expanding its lending marketplace through institutional partnerships. While a single credit union partnership may not materially impact near-term financials, the cumulative effect of building out the partner network strengthens Upstart's competitive moat and market position. The ability to consistently add established financial institutions validates Upstart's AI underwriting technology and could lead to accelerated partner adoption.
However, investors should note that partnership announcements don't guarantee loan volume or revenue growth. Success will depend on factors like member adoption rates, loan performance and the credit union's risk appetite. Additionally, the competitive landscape in AI lending continues to evolve, with both fintech companies and traditional financial institutions developing similar capabilities.
“Driven by our mission to enhance the financial well-being of our members through safe, competitive & innovative products and educational services, we sought a trusted partner to securely expand online access to affordable credit,” said Ben Manry, Senior Vice President of Lending & Member Solutions at Pelican State Credit Union. “Partnering with Upstart has enabled us to digitally reach and offer personal lending to a new set of prospective members across the Southern United States.”
Pelican State Credit Union became an Upstart Referral Network lending partner in August 2024. With the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Pelican’s credit policies will receive tailored offers as they seamlessly transition into a Pelican-branded experience to complete the online member application and closing process.
“We are excited to welcome Pelican State Credit Union to the family of Upstart lending partners to help them grow and diversify their membership and loan portfolio,” said Michael Lock, Senior Vice President of Lending Partnerships at Upstart. “As part of the Upstart Referral Network, Pelican is able to provide a fast, digital-first lending experience to more creditworthy borrowers across its field of membership.”
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
About Pelican State Credit Union
Pelican is a member-first, industry-leading financial institution that serves members across the nation. They serve members in every stage of their lives through free youth and adult financial programs and their wide array of safe, competitive products. As a designated Community Developmental Financial Institution (CDFI), they are committed to providing financial solutions to individuals, families, and communities in underserved markets. Pelican's commitment to innovative technological advancements has led to national and global recognition. To learn more about all the ways Pelican Pays, visit pelicanstatecu.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250122835903/en/
Press Contact
press@upstart.com
Source: Upstart
FAQ
When did Pelican State Credit Union join Upstart's Referral Network?
How many members does Pelican State Credit Union serve through the UPST partnership?
What services will UPST provide to Pelican State Credit Union members?
What geographical area will the UPST-Pelican partnership serve?
