Lending strategy

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…

Northern Ireland faces significant financial inclusion. 350,000 people live in poverty. The lowest earners survive on just £51.45 each week after essentials. That’s a 20% decline since 2021. Meanwhile, one quarter of people seeking debt advice carry High-Cost Short-Term loan burdens averaging £1,700. The Consumer Council found 38% of people reported that their finances negatively…

Scotland faces a financial inclusion crisis. 43% of Scots cannot cover bills for 3 months without their main income. Approximately 730,000 people in Scotland faced credit rejection, representing nearly 1 in 5 Scottish adults. Scottish Illegal Money Lending Unit research found that up to 300,000 people in Scotland are at risk of turning to illegal…

The latest Financial Lives survey from the Financial Conduct Authority (FCA) reveals a troubling statistic: 3.2 million UK adults have been declined credit in the past two years. That’s over one in five of the population locked out of mainstream financial services at a time when the cost of living remains high and financial resilience…

NestEgg is now able to provide credit unions with detailed risk analyses to optimise loan performance. Based on what we’ve seen, here are five ways to reduce bad debt. Watch those debt ratios Applicants with high credit card balances (using more than 75% of their limits) are the most likely to miss payments on credit…