Merrick Bank and Happy Money Launch $500 Million Lending Program
Partnership expands Happy Money’s capacity and further diversifies company’s funding base
TORRANCE, Calif., Oct. 20, 2026 – Happy Money, a consumer finance company dedicated to empowering people to achieve their goals, today announced a new lending program with Merrick Bank that will provide up to $500 million in funding through 2027. This partnership adds to Happy Money's capital partner network and supports the company’s ability to serve qualified borrowers.
Merrick Bank, which holds approximately $9.3 billion in assets and maintains a loan portfolio dedicated to consumer credit, will originate and fund personal loans through its bank sponsorship partnership with Happy Money. The loans will be facilitated and serviced through Happy Money’s platform.
“As we conducted our due diligence on Happy Money, we came away confident in the company’s disciplined approach to offering borrowers personal loans through their lending partners and in the team that runs the organization,” said Louis Mrachek, EVP and Head of Consumer Lending at Merrick Bank. “We share Happy Money’s commitment to making responsible, transparent credit solutions more accessible to underserved consumers, and we are excited to continue expanding our footprint across the lending and bank sponsorship landscape.”
Happy Money’s diverse funding network includes credit unions, institutional investors and banks seeking portfolio diversification and strong risk-adjusted returns. The company continues to add funding partners, creating greater flexibility and resilience across market cycles.
“Merrick Bank brings nearly three decades of consumer credit experience and a shared belief that people benefit from credit that comes with clear terms and real support,” said Matt Tomko, Chief Revenue Officer of Happy Money. “This partnership gives us additional funding capacity as we continue to grow and help more people reach their financial goals.”
This lending program comes as Happy Money continues to meet growing demand for personal loans. According to TransUnion, U.S. personal loan balances reached a record $281 billion in the second quarter of 2026. Happy Money recently surpassed $7 billion in cumulative loan originations, helping more than 350,000 customers pay down high-interest debt and save an estimated $1 billion in interest.
About Happy Money
Happy Money is a consumer finance company that empowers people to achieve their goals through simple, transparent loans funded by trusted financial institutions. Through its proprietary lending platform, Hive, Happy Money delivers a fully digital experience that simplifies borrowing for consumers and helps credit unions, banks and asset managers diversify balance sheets and scale with confidence.
Happy Money’s end-to-end loan origination and participation programs provide partners with turnkey access to high-performing assets, underpinned by disciplined credit expertise and robust risk management. Together with its lending partners, Happy Money has originated more than $7 billion in loans to help over 350,000 people take greater control of their financial futures. Learn more at happymoney.com.
About Merrick Bank
Founded in 1997, Merrick Bank is The Bank That Builds™, an FDIC®-insured financial institution headquartered in South Jordan, Utah, with over $9 billion in assets. A wholly owned subsidiary of CardWorks Financial Group, Merrick Bank serves approximately five million cardmembers and more than 100,000 merchant customers, offering credit cards, recreational loans, deposit accounts, merchant services and bank sponsorships to consumers and businesses.
As a leader in non-prime lending and merchant acquiring, Merrick Bank combines innovative technology and data-driven insights to help underserved consumers build and strengthen credit while providing businesses with integrated, scalable payment solutions. Merrick Bank is among the top 20 credit card issuers in the U.S. and one of the largest merchant acquirers, ranking among the top 15 by transaction volume. Learn more at www.merrickbank.com.
Happy Money Media Contact
Amber Bush
Vice President
William Mills Agency
amber@williammills.com
Merrick Bank Media Contact
Crystal Wright
SVP Communications
CardWorks Financial Group
crystal.wright@cardworks.com