What's Going On With Upstart Shares Thursday?

Shares of Upstart Holdings, Inc. UPST are moving higher Thursday. Here’s what you need to know.

What Happened: The company announced a strategic partnership with Texans Credit Union, one of Texas’ largest credit unions. Texans Credit Union, with over 123,000 members and $2.2 billion in assets, has teamed up with Upstart, the leading AI lending marketplace, to offer personal loans to consumers.

“Our growth strategy is focused on finding the best ways to assist people in meeting their financial goals,” said David Frazier, president and CEO of Texans Credit Union. “Through Upstart’s AI lending marketplace, we are expanding how we reach and lend to more Texans during key milestones in their lives.”

Mike McWethy, executive vice president at Texans Credit Union, added, “Our partnership with Upstart is a great example of how we can use AI to extend our lending capabilities with a fast, digital experience.”

What Else: Texans Credit Union began lending as a partner on the Upstart Referral Network in August 2023. Qualified personal loan applicants who meet Texans Credit Union’s credit policies will receive tailored offers, seamlessly transitioning into a Texans Credit Union-branded experience to complete the online member application and closing process.

UPST Price Action: Upstart shares were up by 7.03% at $26.56 at the time of publication Thursday, according to Benzinga Pro.

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Image: Megan Rexazin Conde from Pixabay.