MADISON, Wis.—TruStage said it is partnering with Ascent Platform Corp. on a payment protection offering.
“During this time of economic uncertainty, eight in 10 consumers are interested in protecting their loans, but most don’t realize payment protection is an option,” Sam Das, managing director of TruStage Ventures, said in a statement, referring to the company’s March 2025 Consumer Lending Preferences Study. “Ascent enables credit unions to more easily offer TruStage Payment Protection products, embedding them in online consumer and business loan originations. This digital experience helps more members reach their financial goals.”
Centralizing Loan Operations
According to the company, Ascent helps credit unions centralize loan operations and manage data, offers integrated payment protection features to loan applicants, and provides credit unions and their members not only a streamlined process, but greater financial protection should members face an unexpected hardship.
“TruStage has been a true partner in our journey, from their early investment in Ascent to this expanded commercial collaboration,” Arjun Sahgal, co-founder and CEO of Ascent, said in a statement. “We’re proud to help credit unions offer members a seamless, secure lending experience—one that puts protection and care at the center.”
The two companies said that in addition, credit unions may gain valuable non-interest income by providing this additional service to members.
Funds Invested
TruStage Ventures invested in Ascent in 2022 through its Discovery Fund, an early-stage investment fund for fintechs with traditionally underrepresented founding teams. Through this new partnership, TruStage said it will work to bring Ascent to more credit unions.
“We believe strongly in the benefits and services Ascent can bring to credit unions, which is why we’re eager to enhance our relationship,” added Das in a statement. TruStage works with 93% of credit unions nationwide2, stated in its May 2024 Sales Navigator report, and the new partnership will offer easier access to Ascent’s platform and Payment Protection for members.
