It’s International Credit Union Day. This year’s theme is building financial health for a brighter tomorrow. NestEgg’s reason for being is to help credit unions improve the financial wellbeing of their members. NestEgg does this in six ways. Fairer credit decisioning Financial exclusion … Read More about International credit union day 2021
More referrals for community finance
Over the next two years NestEgg will deliver 10,000s more referrals for community finance. We've just completed another dozen in-depth interviews with credit union members. As a result we’re better able to understand their money goals and the impact Covid-19 is having on their finances. These … Read More about More referrals for community finance
Growing the loan book in 2021
Growing the loan book in 2021 will continue to be a challenge. Job insecurity and economic uncertainty means it's harder to make lending decisions. Borrowers' circumstances change so quickly due to Covid-19. And then there’s rising bad debt. 100,000 new borrowers NestEgg will provide responsible … Read More about Growing the loan book in 2021
Covid-19 changes to credit score and missed payments
Ahead of FREE webinar on 3 December, we’ve taken an initial look at Covid-19 changes to credit score and missed payments. 30% of 500 credit union members surveyed told us their financial situation had worsened since Covid-19. Step Change found 28% of adults experienced a negative change in … Read More about Covid-19 changes to credit score and missed payments
Covid-19’s impact on lower income borrowers
In September NestEgg processed one loan application every 10 minutes. This anonymised data set provides new insights into Covid-19's impact on lower income borrowers. The pandemic is hitting around 1/3 of credit union members badly. But this isn’t yet showing in the credit data – there’s a lag … Read More about Covid-19’s impact on lower income borrowers
NestEgg is now regulated by the Financial Conduct Authority
NestEgg is now regulated by the Financial Conduct Authority as a provider of credit information services. This means we can now provide tips to loan applicants on how to improve their chances of being accepted for a loan. Decline to accept in action! How does it work? An applicant wants … Read More about NestEgg is now regulated by the Financial Conduct Authority