MIT FCU expands Upstart partnership to include indirect auto loans

MIT Federal Credit Union (MIT FCU) has expanded its partnership with Upstart (NASDAQ: UPST) into indirect auto lending, according to a press release from the companies.

The Massachusetts-based credit union, which serves more than 35,000 members, initially partnered with Upstart in 2024 for personal lending. The expansion adds a secured lending product to MIT FCU's portfolio, broadening the range of borrowing options available to members.

"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," said Dmitriy Banar, Senior Vice President of Lending at MIT FCU.

Sanjay Datta, President of Capital & Enterprise at Upstart, said the expansion gives MIT FCU "another way to meet members' financing needs through a streamlined digital experience."

Upstart's platform connects consumers to banks and credit unions using AI-based lending models. The company states that more than 90% of loans on its platform are fully automated.

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