Cobalt Credit Union, a financial institution with over $1.3 billion in assets serving 115,000 members, has partnered with Upstart, an artificial intelligence (AI) lending marketplace, to offer an expanded suite of personal loans, home equity lines of credit (HELOCs), and auto refinance loans.
Under the partnership, Cobalt Credit Union commenced lending as a partner on the Upstart Referral Network in March 2025, initially originating T-Prime personal loans. The credit union plans to broaden its offerings to include auto refinance loans later in the year. Through the Upstart Referral Network, eligible loan applicants on Upstart.com who meet Cobalt’s credit policies receive customized offers and are seamlessly directed to a Cobalt-branded experience to complete their online membership application and loan closing. Additionally, Cobalt is acquiring portfolios of HELOCs from Upstart’s affiliate, Upstart Mortgage, on an ongoing basis to further diversify its consumer lending products.
Robin Larsen, President and CEO of Cobalt Credit Union, stated, “To support Cobalt’s mission of being our members’ trusted financial partner through every stage of life, we’re focused on expanding our digital reach to deliver more accessible, tailored loan solutions. By partnering with Upstart across its secured and unsecured products, we’re able to offer competitive rates online, deploy capital with greater flexibility, and expand access to affordable credit for members nationwide.”
Michael Lock, Senior Vice President of Lending Partnerships at Upstart, commented, “Through our partnership, Cobalt will be able to grow T-Prime personal loans, HELOCs and auto refinance loans, while also expanding its membership through an all-digital, lending experience.”
Cobalt Credit Union, headquartered in Papillion, Nebraska, is owned by its members and recognized for its community involvement and military heritage. Founded in 1946 at Andrews Field in Maryland to serve Air Force personnel, it relocated with the Strategic Air Command to Offutt Air Force Base in 1948. The credit union manages over $1.3 billion in assets, serves more than 115,000 members across the United States, and operates over 25 branch locations throughout Nebraska and Iowa.
Upstart, headquartered in San Mateo, California, is an AI lending marketplace that connects consumers with over 100 banks and credit unions. Founded in 2012, Upstart’s AI models and cloud applications are designed to enable lenders to approve more borrowers at potentially lower rates, while providing a digital-first experience. The company reports that over 90% of its loans are fully automated.
