>Is traditional lending headed out the door?
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.