Upgrade Partnership with Credit Unions
Upgrade has been an industry leader in financial institution partnerships, with a long pedigree in the marketplace lending space.
We have generated $3+B in loans in the last 3 years and over 50% of our loans are purchased by credit unions.
Credit Unions can partner with Upgrade to purchase any of Upgrade’s facilitated loans including personal loans, cards or auto refi loans.
Opportunity for Credit Unions
- Attractive yielding asset for prime unsecured customers
- Cross-marketing opportunities to customers
- Custom credit criteria
- Nationwide or in geo-targeted footprint
- Easy integration and comprehensive diligence materials, average onboarding timeline ~35 days
- Co-branded offering
- Buy what you want, when you want it and stop at any time.
- Purchases available via participations or whole loans
- Upgrade will deliver a memberized loan
Term: 3 and 5 year
Wtd. Avg FICO*: 715
Wtd. Avg Income: $109,286
Purpose CC /Dbt Cons: 80%
Purpose Home Improv / Large purchase: 10%
% LTV: NA
% Homeowners: 68%
Term: 2, 3 and 5 year
Wtd. Avg FICO*: 689
Wtd. Avg Income: $103,245
Purpose CC /Dbt Cons: N/A
Purpose Home Improv / Large purchase: N/A
% LTV: NA
% Homeowners: 59%
Term: 3-7 year
Wtd. Avg FICO*: 712
Wtd. Avg Income: $108,500
Purpose CC /Dbt Cons: N/A
Purpose Home Improv / Large purchase: N/A
% LTV: 120%
% Homeowners: 70%
* Minimum 660+ FICO. Upgrade extends loans below 660 FICO which are typically sold to institutional investors. If you are interested, Upgrade can also offer below 660 FICO loans to your financial institution.
Credit Union Webinars
For more information, contact us at investor@upgrade.com