Strengthening the Credit Committee
Credit committees are built on something banks have never managed to replicate: a group of people who know their community. Who believe every application deserves a fair hearing. That’s a genuine strength. However focusing too much on assessing individual applications misses a much bigger strategic opportunity. Credit committees with aggregated data can consider the wider…
Read MoreA default can stop you getting credit
Last reviewed April 2026 i QUICK ANSWER A default is registered on your credit file when you miss six consecutive payments on a credit agreement. It stays on your file for six years and makes it significantly harder to be approved for credit. You can still take steps to improve your profile while waiting for…
Read MoreHow lenders make credit decisions
Last reviewed April 2026 i QUICK ANSWER Lenders decide whether to offer you credit by assessing risk. They look at your credit score, repayment history, debt levels, income, affordability and address stability — drawing on data from credit reference agencies like Experian, Equifax and TransUnion. No single factor guarantees an approval or decline. When you…
Read MoreWhat is a missed payment?
Last reviewed April 2026 Quick answer A missed payment is when you don’t make a payment on the date agreed during a billing cycle — usually 30 days — to your lender. Lenders report missed payments to the three UK credit reference agencies (Experian, Equifax, TransUnion), where they can lower your credit score and affect…
Read MoreLoan recycling: the hidden reason credit union loan books stall
Some credit unions are processing millions in lending each year but aren’t growing at all. The reason is loan recycling. Successfully addressing this is a direct route to sustainable growth. Why the loan recycling rate matters more than you think The loan recycling rate measures what proportion of a credit union’s opening loan book was…
Read MoreNo more marketing without measurement
Credit union marketing analytics are improving – but the gap between spend and insight remains significant. Social media campaigns, email outreach, partnerships, broker channels and community events are just some examples of marketing activities. But campaigns cost money and staff time. Critically, when loans arrive, there’s little insight into their origin. As a result, it’s…
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