DETROIT, June 12, 2014 /PRNewswire/ -- BoostUp, a first of its kind social savings platform, today announced a partnership with Detroit-based Quicken Loans, the nation's second largest retail home mortgage lender, which will allow BoostUp users to receive a free $750 Boost to apply toward closing fees on a new home financed by Quicken Loans.
"Our partnership with Quicken Loans allows us to reward users who have saved to buy their home with BoostUp," said John Morgan, Founder and CEO of BoostUp. "We're thrilled to partner with a company that shares the same values and passion for helping others achieve life's biggest purchases."
Quicken Loans is the first mortgage lender to partner with BoostUp. Once an account is created, BoostUp users can continue to add funds toward their goal, as well as enjoy built-in Boosts, a free money incentive from brand partners in exchange for the purchase of their product or service.
"A home is likely the largest purchase a consumer will make in their life, so this $750 will definitely be put to good use by our clients," said Jay Farner, Quicken Loans President and Chief Marketing Officer. "Saving up to buy a new home can seem like a daunting task, but between BoostUp's innovative program and the $750 Boost we are providing our clients at closing, the dream of home ownership is closer to reality than ever before."
BoostUp provides users a quick and easy process to begin saving. Once signed in, BoostUp users select which savings category they're interested in, including automotive, home, wedding and trip, as well as the dollar amount and target date for their goal. To begin saving, users can schedule recurring or one-time deposits directly from their checking or saving accounts into their BoostUp account.
In addition to Quicken Loans' contribution at closing, BoostUp users can build awareness through social media and email platforms that offer family and friends an opportunity to contribute to savings goals during traditional gift-giving occasions like the holidays, birthdays and graduation.
BoostUp is a first of its kind social savings platform connecting people with major brands from the car, home, wedding and trip industries that offer built-in Boosts, a free money incentive in exchange for the purchase of their product or service. Using a free and secure BoostUp account, people saving for life's big purchases can also receive additional contributions from family and friends. Life's expensive. Get a Boost. For more information, please visit www.BoostUp.com.
About Quicken Loans
Detroit-based Quicken Loans Inc. is the nation's second largest retail home mortgage lender. The company closed a record $80 billion of volume across all 50 states in 2013. Quicken Loans generates loan production from web centers located in Detroit, Cleveland and Scottsdale, Arizona. The company also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked #1 in customer satisfaction among all home mortgage lenders in the United States by J.D. Power for the past four consecutive years; 2013, 2012, 2011 and 2010.
Quicken Loans was named among the top-30 companies on FORTUNE magazine's annual "100 Best Companies to Work For" list for the last 11 consecutive years, ranking #5 in 2014. It ranked in the top-15 of Computerworld magazine's "100 Best Places to Work In Technology" for the past nine years, ranking #1 in 2013. The company moved its headquarters to downtown Detroit in 2010, and now more than 8,500 of its 10,000-plus team members work in the city's urban core. For more information about Quicken Loans, please visit www.quickenloans.com, on Twitter at @QLnews, and on Facebook at www.facebook.com/QuickenLoans.