How Credit Unions Can Win in 2024

About the Podcast

Explore how AI can revolutionize credit unions by maximizing liquidity, gaining and retaining membership, and ensuring fair lending practices. Discover success stories from current partners and gain insights into effective collaboration in the ever-evolving financial landscape. Plus, learn about Upstart's new AI certification programs, empowering industry professionals to lead the AI conversation at their credit unions.

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Key Takeaways:

  • [04:37] The personal savings rate continues to drop. Defaults are on the rise across all asset classes.
  • [06:10] A lot of credit unions are not struggling with understanding what AI is but not necessarily understanding how AI can help their business and help move their credit union forward in terms of a much bigger value proposition for their members. 
  • [10:19] It has been proven that the use of AI for decisioning loans is a better predictor of default and risk in comparison to using traditional underwriting methods that may not allow for approval on your internal policy or procedure.  
  • [17:04] If you’re looking to utilize AI in any realm of your business, find that partner that is able to adhere to your goals and objectives across all different functions within your organization and is an extension to your organization.

Learn more about Upstart's AI in Financial Services Professional Certification.

Presented By

Barry Roach
Barry Roach

Senior Account Manager | Upstart

Barry Roach is a Senior Account Manager at Upstart, helping our Bank and Credit Union Partners meet their business objectives with our lending programs. He has over thirty years of experience in the financial services industry, leading large teams of financial professionals that consistently delivered above-market financial results. Most recently, as President and CEO of Water and Power Community Credit Union in Los Angeles ($950M assets), Barry led the organization on a digital platform transformation that relied on Fintech partners to create a vastly improved user experience. Barry launched his career with a large Canadian bank, and he attained two Masters degrees specializing in finance and business analytics. 

Drew Megrey
Drew Megrey

Senior Account Manager | Upstart

Drew Megrey is a Senior Account Manager at Upstart, and former Credit Union CEO in the Cleveland Ohio Market. With over 15 years in the financial industry, his expertise lies in lending, the credit decision process, and operational rules and regulations, as well as business operations and sales. He is driven by his passion to help clients with solutions that are tailored to their specific needs.