On 10 June our webinar looked at lending trends since lockdown. We wanted to find out how Coronavirus affects the financial health of credit union borrowers. Responsible lenders can adjust their lending to this new reality. At the end of the webinar, and this article, we share two risk-based … Read More about Lending trends since lockdown
In mid-April NestEgg was one of the presenters at the Finance Innovation Lab Covid19 event. We shared research on credit union loan applications since lockdown and explored how NestEgg is planning to measure the impact of, and recovery from, Covid19. To do this we’ll be using the new Financial … Read More about Measuring impact and recovery from Covid19
We've taken a look at five credit unions using the NestEgg Decision Engine and Workflow to understand how credit unions are helping with the Coronavirus. The surge in Coronavirus-related loan applications is huge. We estimate that at least £4 in every £10 borrowed, since lockdown, is supporting … Read More about How credit unions are helping with the Coronavirus
Covid-19 will increase bad debt. Covid-19 means falling credit scores. Spending 1/5 of monthly income on credit is already tight. But losing 20% of a salary (assuming employers pass this cut on), means debts will be harder to repay. And the self-employed are faring worse. Currently they can … Read More about Covid-19 means falling credit scores. A holistic view is needed
Consolidation loans are tempting. They help members cut the interest rates they are paying. Monthly repayments can be reduced. The convenience of one combined monthly payment helps people budget better. But they are not without risk. One-off credit card consolidation may be a better … Read More about Credit card consolidation: a lower risk alternative?
NestEgg and Central Liverpool Credit Union are one of six finalists in the Affordable Credit Challenge. Together we are building Financial Health Indicators (FHIs) into NestEgg's decision engine. Covering spending, borrowing and saving, FHIs are shared transparently between borrowers and … Read More about Introducing Financial Health Indicators