- Cobalt Credit Union partners with Upstart (UPST, Financial) to expand loan offerings including personal loans, HELOCs, and auto refinance.
- The partnership aligns with Cobalt's mission to enhance digital reach and provide tailored loan solutions nationwide.
- Cobalt Credit Union serves 115,000 members with over $1.3 billion in assets.
Cobalt Credit Union, a prominent financial institution with over 115,000 members and assets exceeding $1.3 billion, has announced a strategic partnership with Upstart (UPST), a leader in AI-based lending. This collaboration aims to broaden Cobalt's digital lending services by incorporating personal loans, home equity lines of credit (HELOCs), and auto refinance loans. The partnership will enable Cobalt to offer competitive rates and increase accessibility to affordable credit on a national scale.
Robin Larsen, President and CEO of Cobalt Credit Union, emphasized the partnership's role in fulfilling the credit union's commitment to being a trusted financial partner throughout its members' lives. By leveraging Upstart's advanced AI technology, Cobalt can deliver more flexible and customized loan solutions, reinforcing its dedication to member service and financial inclusivity.
The initiative commenced with Cobalt joining the Upstart Referral Network in March 2025, initially offering T-Prime personal loans and planning to introduce auto refinance loans by year's end. Additionally, Cobalt is actively purchasing HELOC portfolios from Upstart Mortgage, enhancing its consumer lending portfolio.
Michael Lock, Senior Vice President of Lending Partnerships at Upstart, expressed enthusiasm about Cobalt joining their network, highlighting the shared vision of expanding digital lending experiences and increasing membership through innovative financial solutions.
As Upstart (UPST, Financial) continues to bridge consumers with over 100 banks and credit unions, its platform's integration with Cobalt further exemplifies the potential of AI-driven lending solutions in transforming financial accessibility and customer satisfaction across the United States.
