Organisations
Open Data vs Open Banking: a guide for Canadian credit unions
As Canadian credit unions prepare for Consumer-Driven Open Banking in 2026, there’s a critical opportunity being missed: Open Data for credit assessment. While most discussions focus on account portability and switching, Canadian credit unions could leverage a much broader Open Data ecosystem for lending decisions, as UK credit unions have done since 2018. In this…
Read MoreHow to stop credit cards driving bad debt
One factor, above all else, drives credit union bad debt, and that is credit cards. NestEgg’s analysis of credit union defaults reveals a clear pattern: consistently high credit card balances and rapid balance growth (high velocity) result in a default rate that’s 50% higher than the average. Warning signs appear across all credit profiles. In…
Read MoreCredit union referrals are central to the Financial Inclusion Strategy
The UK Government’s recently published Financial Inclusion Strategy highlights a continuing challenge for the financial services sector: “The provision of affordable credit to financially excluded people is a challenge that the financial services sector as a whole must rise to meet.” The strategy makes clear that mainstream lenders, like banks, and community finance providers, like…
Read MoreOpen Data for Canadian credit unions: getting ready for Consumer-Driven Banking
Canada is moving from discussion to delivery. In Budget 2025, the federal government confirmed legislation to complete Consumer-Driven Banking (CDB) – often called Open Banking – signalling the start of an Open Data era for financial services. For credit unions, that means member-permissioned data becomes a standard input to faster, fairer lending. With rollout expected…
Read MoreA Blueprint to double credit union lending: from ambition to reality
The credit union sector stands at a pivotal moment. With growing recognition of the affordable credit gap, a government committed to the doubling of the mutual sector and a new financial inclusion strategy to be released, the opportunity to significantly expand credit union lending has never been clearer. But how do we move from aspiration…
Read MoreSupport tenants with affordable credit
Housing Associations are more than landlords. For a long time, Housing Associations have recognised the importance of financial inclusion. Most have introduced strategies or dedicated staff to help tenants access affordable credit, manage money, and reduce the risk of arrears. While the level of support varies across the sector, these initiatives can make a real…
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