The Christmas season’s loan rush may not be entirely over for 2023, but it won’t be long until preparations for the next lending campaign are underway. January is traditionally a peak period for consolidation lending, with loans typically higher in value and being repaid over a longer duration. This results in increased revenue for lenders.
While responsible lenders strive to help members improve their budgeting with a lower single payment through consolidation lending, often consolidation loans are seen as higher risk. However, successful consolidation loans can provide much-needed relief to struggling households. So, how do lenders strike the right balance between profitability and responsible lending practices?
On 18th January NestEgg will be hosting a webinar with industrial and community credit unions to exchange strategies for consolidation lending.
The session will start with a look at the data and NestEgg will share insights into:
- Compare borrower profiles for accepted and rejected applications
- How much they borrowed
- How much they owed
- Whether lending risk is falling or rising
Participants will hear from industrial and community credit unions about:
- Their approach to consolidation lending
- The proportion of lending consolidation represents
- The perceived benefits and risks
- How risks are managed
The meeting will conclude with Q&A from the audience.
Sign up for this webinar here.
If you are a credit union or CDFI that would like to participate as a speaker and share your insights contact us.