MIT Federal Credit Union Expands Partnership with Upstart into Indirect Auto Lending

LEXINGTON, Mass. & BURLINGAME, Calif.--(BUSINESS WIRE)-- MIT Federal Credit Union (MIT FCU), a full-service, Massachusetts-based credit union serving over 35,000 members, today announced the recent expansion of its partnership with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, into indirect auto lending.

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“MIT Federal Credit Union strives to be there for our members at every stage of their financial journey,” said Dmitriy Banar, Senior Vice President of Lending at MIT Federal Credit Union. “Expanding our relationship with Upstart into indirect auto lending gives us another way to meet members where they are through a fast and easy car financing experience.”

The expanded relationship builds on MIT FCU's personal lending partnership with Upstart, which began in 2024. Through the expansion, MIT FCU is diversifying its lending strategy and adding a secured product to serve members across more borrowing needs.

“MIT Federal Credit Union is committed to delivering a convenient, modern lending experience for its members,” said Sanjay Datta, President, Capital & Enterprise at Upstart. “Expanding into indirect auto lending with Upstart gives MIT FCU another way to meet members’ financing needs through a streamlined digital experience.”

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 while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in Burlingame, California.

About MIT Federal Credit Union

MIT Federal Credit Union is a member-owned cooperative financial institution whose primary mission is to provide quality financial services that meet the needs of their members while ensuring the financial wellbeing of the organization. For more information, visit www.mitfcu.org.

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Press Contact
Eric Smith
[email protected]

Source: Upstart

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