Consolidation lending for responsible lenders

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.

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Adrian Davies

Adrian is a co-founder at NestEgg. He is an alternative finance and credit union expert. Adrian has 25 years’ experience in the money advice and responsible lending sectors, supporting credit unions with innovative ideas so they can grow and meet member needs.

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