Mascoma Bank selects Upstart for personal loans

LEBANON, NH & SAN MATEO, Calif., June 02, 2022–(BUSINESS WIRE)–Mascoma Bank, a $2.6 billion mutual bank and Certified B-Corporation® serving northern New England, today announced its partnership with Upstart (NASDAQ: UPST) , a leading artificial intelligence (AI) lending platform, to bring AI-powered personal loans to more people.

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Quote from Ken Wells, Director of Retail Lending for Mascoma Bank (Graphic: Business Wire)

“As Mascoma Bank expands ways to better serve northern New England, partnering with Upstart allows us to diversify into the consumer lending space with a new personal loan offering,” said Ken. Wells, director of retail loans for Mascoma Bank. “Through Upstart’s AI lending platform, Mascoma Bank will be able to reach and lend to more creditworthy borrowers while delivering a fully digital, modern consumer lending experience.”

As a new Upstart lending partner since March 2022, Mascoma Bank will be part of the Upstart referral network. With the Upstart referral network, qualified personal loan applicants on Upstart.com who meet Mascoma Bank’s credit policies receive tailored offers as they seamlessly transition to a Mascoma Bank-branded experience to complete the application online and the closing process.

“We are thrilled to have Mascoma Bank as a new lending partner on the Upstart Referral Network,” said Michael Lock, Senior Vice President of Lending Partnerships for Upstart. “Through our partnership, Mascoma Bank will be able to reach and provide access to affordable credit to more consumers in northern New England.”

To learn more about the Upstart Referral Network, please visit https://www.upstart.com/for-banks/referral-network/ and watch this video.

About Upstart
Upstart (NASDAQ: UPST) is an artificial intelligence-powered lending platform that partners with banks and credit unions to expand access to affordable credit. By leveraging Upstart’s AI platform, banks and credit unions powered by Upstart can have higher approval rates and lower loss rates for every race, ethnicity, age and sex, while simultaneously delivering the exceptional digital lending experience their customers demand. More than two-thirds of Upstart loans are approved instantly and are fully automated. Upstart was founded by former Googlers in 2012 and is based in San Mateo, Calif., and Columbus, Ohio.

About Mascoma Bank
Headquartered in Lebanon, New Hampshire, Mascoma Bank is a $2.6 billion mutual bank and B-Corporation® certified company with 28 branches and 2 lending offices in Northern New England. Mascoma Bank was founded in 1899 by community members looking for ways to establish a healthy local economy. For more than 122 years, Mascoma Bank’s Mutuality Foundation continues to be a force for positive change helping communities achieve thriving sustainability. Mascoma Bank is strongly committed to using technology to support its mission and values ​​of putting the customer at the center of its work.

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