- Upstart (NASDAQ:UPST) stock is gaining on an agreement with Sharonview Federal Credit Union
- This opens it up to providing more customers with loan options through its platform
- Sharonview Federal Credit Union mostly operates in the Carolinas with over 100,000 members
Upstart (NASDAQ:UPST) stock is rising higher on Wednesday as investors react to news of the company teaming up with Sharonview Federal Credit Union.
Let’s go over the details of this collaboration below!
- This agreement has Upstart offering its artificial intelligence (AI) lending platform to Sharonview Federal Credit Union.
- This will have it taking part in the Upstart Referral Network.
- That network allows it to be listed by Upstart as a lending option for borrowers that meet its standards.
- Sharonview Federal Credit Union’s main area of business is the Carolinas but it also offers loans around the U.S.
- This has it serving more than 100,000 borrowers.
- The deal with Upstart will allow for a clean transition between the AI lending platform and its own website.
- It’s worth noting that Sharonview Federal Credit Union is a new partner with Upstart having only joined forces in February 2022.
David Brand, senior vice president of Lending Operations at Sharonview Federal Credit Union, said this about the news.
“With Sharonview’s focus on improving the financial standing of our members, we are proud to partner with Upstart to provide a better all-digital, AI-powered lending experience to benefit new members across the communities we serve.”
UPST is seeing strong trading today alongside the Sharonview Federal Credit Union news. This has more than 12 million shares changing hands as of this writing. That’s quickly approaching the company’s daily average trading volume of 13.1 million shares.
UPST stock is up 8.5% as of Wednesday morning.
There’s more stock market news to dive into below!
We’ve got all the hottest stock news traders need to know about for Wednesday! A few examples of that include what’s going on with shares of SoFi (NASDAQ:SOFI), AMC Entertainment (NYSE:AMC), and Veru (NASDAQ:VERU) stock. You can learn all about these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.