Lending Strategy

How do we ensure better lending during the cost of living crisis? Accept rates for credit union loans have fallen significantly over the last year. This can be partly explained by the increasing indebtedness of borrowers. The average non-mortgage debt of credit union applicants rose by 14% in the … Read More about Better lending during the cost of living crisis

We can now see how Buy Now Pay Later for Credit Union borrowers is impacting their credit reports. There was a big upload of Buy Now Pay Later (BNPL) agreements to the credit bureau at the end of January. These data are now returned to our decision engine. Currently BNPL does not have an impact … Read More about Buy Now Pay Later for Credit Union Borrowers

NestEgg's decision engine delivers easier loan assessment. Are you tired of moving between several different systems just to assess a loan? With NestEgg, everything’s in one place. Online loan applications may need to be re-keyed into a credit assessment portal. Moreover, your credit data … Read More about Easier loan assessment

Credit union car loans are becoming a reality. 7.5m people bought 9.2m cars in 2021. 8 in 10 of those were second hand. The average asking price for a second hand car was up 11% to just under £16,000. Credit unions have struggled to take advantage of this demand. In Great Britain fewer than … Read More about Credit union car loans

The cost-of-living crisis is hitting borrowers across all income groups. Consequently, responsible lenders need to adjust their approach when assessing loan applications. According to the Resolution Foundation, the typical working-age household faces an income fall of 4% or £1,100 in 2022-23. … Read More about Loan decisioning in a cost-of-living crisis