>Is traditional lending headed out the door?

This entry was posted by Wednesday, 17 October, 2007
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>Hey folks, I just ran across a really interesting article that you need to check out. Not only does it give a pretty good overview of the current peer-to-peer landscape, the author highlights an individual who uses peer-to-peer lending as a means to escape the for-profit payday lending trap.

The article goes on to talk about how peer-to-peer groups such as Lending Club are using social networking sites to conduct business. Credit unions also get a shout out, as Aite research director Christine Barry points out, “Peer-to-peer lending reminds (her) very much of the credit union model… You’re usually lending to people that belong to the same kind of affinity group. There’s a certain degree of trust.”

Call me a credit union dork, but I love reading about this kind of stuff. I get all excited thinking of all the possibilities for credit unions with peer-to-peer lending, social networks, and specifically the 18-to-30 demographic.

One Response to “>Is traditional lending headed out the door?”

  1. Christopher Morris

    >OK, you are a credit union dork.

    C’mon, you knew someone would post it…wouldn’t you rather it be me?

    Great post as usual.

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