International credit union day 2021

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 manifests itself in particular ways on a credit record. Responsible lenders, set…

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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 recent interviews provided a contrast with a similar exercise…

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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 lenders with 100,000 loan applications from new borrowers. NestEgg software…

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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 to borrow. But they’re unsure…

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Lending trends since lockdown

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 personas. These are example types of…

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Measuring impact and recovery from Covid19

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 Health Indicators, built partly with funding from…

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