7 ways to optimise Credit Builder Loans
Credit builder loans can help members improve their credit score. The reality is a 15% accept rate and little improvement on scores in the short term. But the problem isn’t the product. It’s the approach. One name, three markets 3.2 million UK adults have adverse credit history including CCJs or defaults. 1.5 million have what…
Read MoreHow financial associations affect your credit profile
Last reviewed February 2026 Quick answer Financial associations link your credit file to another person’s. Even if you separate finances, the link stays unless you file a notice of disassociation with each credit reference agency.. What is a financial association? A financial association is a formal link between two people’s credit files, created when they…
Read More7 ways to optimise Payroll Deduction for credit unions
Payroll deduction allows employees to repay loans directly from wages before they hit their bank account. It’s a simple mechanism that can drive growth, provided the balance between risk and reward is struck. Importantly the data shows that a loan repaid via payroll isn’t a guarantee of success for either the lender (bad debt) or…
Read MoreWhat is a credit union?
Last reviewed January 2026 At a glance Member-owned and not-for-profit — surplus goes back to members, not shareholders Offers savings accounts and personal loans with government-capped interest rates Membership requires a “common bond” (area, employer, or community group) Savings protected up to £120,000 by the Financial Services Compensation Scheme (FSCS) — same as high street…
Read MoreDouble the Loans, Not the Headcount
For every thousand members, Canadian credit unions employ four to five staff. UK credit unions manage with roughly one, underscoring the importance of credit union automation. That’s a striking gap. And in conversations with Canadian credit union leaders, we keep hearing the same frustrations behind it: loan decisions taking days or weeks. Business loans taking…
Read MoreIt’s Time to Optimise Lending
To optimise lending and grow the loan book isn’t a single goal. Loan growth is the outcome of dozens of underlying drivers working together. How quickly do applications move through the system? What proportion of members complete the process versus walking away? How often do decisions require manual intervention? How does your lending policy and…
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