Bank on Family
Lending money to a friend? There's a 43% chance you won't see that money again...
Everyone goes into peer-to-peer lending transactions with a positive state of mind, but the reality is not all informal loans get paid back. This is not only unhelpful to the borrower but puts a strain on the relationship. Bank on Family will increase repayment rates for lenders, build borrowers credit, and create loyal members with healthy financial behaviors.
Help your members help their family.
Complete this form to be considered for the Bank on Family prototype test. Bank on Family reduces the awkwardness lending between family and friends by making the credit union the facilitator of a streamlined process.
We want to help informal borrowers get access to loans from peers to build credit & encourage healthy financial behavior
Bank on Family will increase repayment rates for lenders, build borrowers credit, and create loyal members with healthy financial behaviors. That's our hypothesis and we're ready to test it.