Organisations
7 ways to optimise Credit Builder Loans
Credit builder loans can help members improve their credit score. The reality is a 15% accept rate and little improvement on scores in the short term. But the problem isn’t the product. It’s the approach. One name, three markets 3.2 million UK adults have adverse credit history including CCJs or defaults. 1.5 million have what…
Read More7 ways to optimise Payroll Deduction for credit unions
Payroll deduction allows employees to repay loans directly from wages before they hit their bank account. It’s a simple mechanism that can drive growth, provided the balance between risk and reward is struck. Importantly the data shows that a loan repaid via payroll isn’t a guarantee of success for either the lender (bad debt) or…
Read MoreDouble the Loans, Not the Headcount
For every thousand members, Canadian credit unions employ four to five staff. UK credit unions manage with roughly one, underscoring the importance of credit union automation. That’s a striking gap. And in conversations with Canadian credit union leaders, we keep hearing the same frustrations behind it: loan decisions taking days or weeks. Business loans taking…
Read MoreIt’s Time to Optimise Lending
To optimise lending and grow the loan book isn’t a single goal. Loan growth is the outcome of dozens of underlying drivers working together. How quickly do applications move through the system? What proportion of members complete the process versus walking away? How often do decisions require manual intervention? How does your lending policy and…
Read MoreCanadian credit unions: unlock small business lending with Open Data
Canadian credit unions have long championed the small business community, through business chequing accounts, working-capital facilities, and startup lending. Yet when it comes to lending, many SMEs remain underserved, not because credit unions lack appetite, but because traditional underwriting makes small business loans expensive to assess and slow to deliver. As Canada moves toward Consumer-Driven…
Read MoreFive features for faster decisions: the foundation to double credit union lending
Before introducing new features in 2025, NestEgg rebuilt its Decision Engine Dashboard from the ground up. Dashboard 2.0 became the foundation for everything that followed, delivering a 30% reduction in loan turnaround time. Here’s what we’ve built on that foundation (so far): Price right, grow fast Flat-rate pricing creates an impossible dilemma. Low-risk borrowers go…
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