Happy Money and Merrick Bank Announce $500 Million Lending Partnership

Merrick Bank, which manages approximately $9.3 billion in assets and has a significant focus on consumer credit, will originate and fund personal loans in collaboration with Happy Money. These loans will be processed and serviced via Happy Money's platform.

Louis Mrachek, EVP and Head of Consumer Lending at Merrick Bank, expressed confidence in Happy Money's disciplined lending approach and its commitment to providing responsible credit solutions. He noted the goal of making such solutions accessible to underserved consumers while expanding their involvement in the lending space.

Happy Money's funding network includes credit unions, institutional investors, and banks, all seeking to diversify their portfolios and achieve strong risk-adjusted returns. This partnership with Merrick Bank further boosts its funding capabilities, positioning the company to grow as it meets increasing demand for personal loans. According to TransUnion, U.S. personal loan balances reached a record $281 billion in the second quarter of 2026.

With this program, Happy Money has reached over $7 billion in cumulative loan originations, supporting more than 350,000 customers in reducing high-interest debt and saving approximately $1 billion in interest.

Happy Money is dedicated to empowering individuals through affordable, transparent loans. Its proprietary digital platform, Hive, streamlines the borrowing process for consumers and assists financial institutions in diversifying their balance sheets.

Merrick Bank, established in 1997 and headquartered in South Jordan, Utah, is known as an FDIC®-insured financial institution. With over $9 billion in assets, it serves approximately five million customers, offering a range of services including credit cards and lending solutions, particularly focusing on non-prime lending.