Credi news and media releases

Credi’s Statistics For October

This October 2017 saw $32.5 million worth of loans set up to be managed and formalised on the platform. With $10.4 million of this being active/live on our platform – seeing a 4.2% increase from last month.

The platform has also reached 1687 users on the platform. This has overall seen a 16% increase from last months user statistics.

Keep an eye out for more to come and next months statistics.

The platform helping empower the ‘bank of mum and dad’ –


Tim Dean talked with Annie Kane from earlier this year and discussed Credi’s potential to help struggling millennials who turn to their parents for a loan to buy their first property.

The online platform for managing loan agreements between family, friends, and colleagues has seen great success since their launch in April. Credi has grown exponentially in the Australian market and as of this month has reached $31 million dollars of loans on the platform. Tim Dean further mentions how the platform was created after he

CEO Tim Dean further mentions how the platform was created after he experienced the strain of not being repaid and having to constantly chase up family and friends. As such, Credi aims to formalise and manage lending between family and friends by providing loan documentation, negotiation of an agreement, repayment reminders and ongoing loan management.

Dean also highlighted that 1/3 of the loans on the platform are property related, whether it be for a deposit or for a house purchase.

Tim Dean further goes on the discuss the gap between homeowner equity owners and millennials, and how more and more millennials are having to turn to family for financial help. He further mentions how many millennials prefer not to turn to banks due to the high-cost credit and higher interest rates. That’s when young adults look to their family for help, specifically ‘the bank of mum and dad’.

Mr Dean added: “But the problem some parents have is lending their money to their children without guarantees. They might be concerned that their child hasn’t got a job, or they want to protect their wealth for estate planning, or concerned that they might never get that money back for when they need it later in life. That is where we aim to help.”

Read the article in full here!


Credit: Annie Kane






New Zealand Herald digs deep to find out about the new Fintech in town

New Zealand Herald - CREDI The loan agreement platform, last month, announced the launch of its platform in New Zealand. Now with only a week to go, the New Zealand Herald has dug deep to find out what to expect from Credi’s fintech platform.

The main question on their mind was ‘the level of protection for users’. But CEO Tim Dean reassured them that the loan agreements were legally binding.

Dean states that “People are lending millions of dollars to friends and family, not because they want to make money out of them, but because they want to help them out and they just want to have a structure that means they don’t have to talk about it, and if there’s ever a problem ‘this is what we said, there’s no dispute’.”

Read the article in full below.


Credit: NZ Herald Staff Reporter

Source: New Zealand Herald




Credi Featured on Channel 9 News Discussing the “Bank of Mum and Dad”

Credi loan agreement platform on Channel 9 News

Credi was live on Channel 9 News last Thursday and Friday. Nathan Brooks reports on how many adult children are turning to their parents when buying their first home. Resulting in the so-called ‘bank of mum and dad’ becoming the fifth biggest lender in Australia.

CEO, Tim Dean, created the platform to help family and friends formalise and manage loans. 9 News reported that 50% of informal loans between family and friends aren’t documented, as a result arguments often arise and relationships can be damaged. Tim Dean, having countlessly lent to his adult children and colleagues over the years realised how important a platform like Credi was to help protect relationships and safeguard trust.

Watch the video below of the interview that aired on 9 News Thursday and Friday of last week



Credit: Nathan Brooks 9 News

Source: Nine News




Credi shared across social platforms after Australian FinTech feature

australian fintech

Last week Australian FinTech shared with their subscribers the exciting news of Credi’s international expansion. The financial technology (fintech) news platform then went on to spread the word to their well-established social pages.

Australian FinTech wrote of Credi’s success in only 6 months and CEO Tim Dean’s, well thought out plan to expand. After reaching $32 million of loans on the platform and 1400 users Dean decided to start the international journey by launching in New Zealand. Next on the list is the United Kingdom and the United States. But they won’t stop there, Credi hopes to go global in time.

Tim Dean also talks about Credi’s next step move is to roll out commercial advertising in Australia and New Zealand, which he believes will have a great impact.  You can expect to see these adverts in the next month. So be sure to keep an eye out on your television.


Credit: Australian FinTech





3 Easy Steps to Lend Money the Smart Way

lend money highlights 3 easy steps to help you lend money safely to your family and friends.

If a friend or family member is ever in need most of us are more than happy to lend a helping hand even if it involves financial support. However, for those friends or family members that can’t get a personal loan from a commercial lender, most likely due to damaged credit or no credit, proves to be a risk for you, as the lender. So if you do choose to lend to them it’s always a good idea to protect yourself and your relationship, because we all know that sometimes things turn sour.

Lend the Smart Way highlights 3 steps, the first being:

  1. Set a Fair Interest Rate

Setting an interest rate, one that is competitive with one from a commercial lender can work in both yours and the borrower’s favour. An interest rate provides you with interest similar to what you may get if you were to put it into a savings account. It also offers you security, for if the borrower agrees to pay the interest this may prove they genuinely need the money.

  1. Get Your Agreement in Writing

When lending to family and friends always recommends writing out your agreement. If you’re uncomfortable with this be assured you’ll be even more uncomfortable with having to remind them and even of chase up the repayments. Again if they’re in serious need of financial support writing down some details and signing a document will prove they’re genuine about the loan. Be sure to spell out the terms, such as how much is borrowed, the time period, interest rate and repayment details.

Be sure to check out who will help organise all these details for you and create a loan agreement as well. Plus you’ll be able to manage it on the platform once it’s agreed to and eSigned.


  1. Set up a Formal Payment Arrangement

Let’s face it, it’ll be easier for the borrower to make a late payment or even miss a payment to you than to a commercial lender. Be sure to include details of payments due dates, fees and how payments will be made (bank transfer, cash etc.). With Credi, you will be notified of upcoming repayments and the borrower will also receive reminders of late payments. The platform also allows you to label each repayment as cleared, forgiven, overdue or paid. This helps both parties track repayments, in turn helping to prevent disagreements on the when payments were made and the remaining amount owed.

Lending money to friends and family members who can’t get a loan from a traditional lender always has its risks. However, if the right precautions and steps are taken you can avoid hurting feelings and ruining relationships. Always be clear when writing up the agreement and voice your expectations.

Be sure to open your free account with Credi and create your loan made with family or friends. Our platform will take away the stress and worry of lending informally. Credi helps structure a loan agreement, put it in writing, and manage & track the loan from start to finish.


Credit: Gerri Detweller







Credi’s new records in September 2017

new records in September 2017

Credi the relationship lending platform powering “the Bank of Mum and Dad” has set new records in September 2017. The platform has seen an increase in users and is now expanding internationally.

This September 2017 saw $31, 373, 502 million loans formalised and managed on the platform. With $10,053,386 million of these being active/live on our platform – seeing a 4.9% increase from last month.

The platform reached 1454 users on the platform. Overall seeing a 17.4% increase from last months user statistics.

Keep an eye out for more to come and next months statistics.


Family loan repayment template




DailyFintech Announces – Credi Starts Exporting to the World

Daily Fintech

Daily last week announced Credi’s roll out to the world. Along with another lending platform, Daily Fintech shared both companies goal to launch in New Zealand this coming month.

The fintech news publication shared with its followers the unique idea behind Credi. Not lending money directly, however, formalising and managing loan agreements between family and friends.

DailyFintech goes on to highlight Credi’s goal at the very start to understand the market dynamics by commissioning a report by RMIT University in Melbourne. The results were interesting, to say the least, and has helped Credi find it’s niche. In turn, helping their platform manage $32 million of loans to this day.

The article then summarises Credi’s niche in helping formalise and manage inter-generational wealth transfers and family/relationship lending.

Read the article in full by clicking below

Credit: Jessica Ellerm




Australia’s Bank of Mum and Dad Now 5th Biggest Lender

Australian financial advisor platform, Mozo, has found young first home buyers turning to their parents for help, resulted in the ‘bank of mum and dad’ becoming Australia’s 5th biggest lender.

With property prices increasing and income growth lagging behind, millennials are finding it harder and harder to get onto the property ladder. Mozo’s Kirsty Lamont highlights that this issue has led to the rise of parents lending to their children, whether it be for a deposit or home loan repayments.

This can be seen through Moz’s research, showing that in 1986, the average price of a property was $76,278, which was the equivalent of 4.4 times the average income of $17,321 per year. In 2016, the average house price rose to $547,714, which was 6.9 times the average annual income of $78,832.

Mozo further highlights that ‘the bank of mum and dad’ in Australia has lent $65.3 billion to young home buyers annually. With 29% of parents in Australia assisting their children in purchasing a property. Overall 67% of those parents that do lend to their children don’t expect to be repaid.

Mozo then highlights through analytics the contribution family lending has on the market.

Read the article in full by clicking the link below.

Credit: Kelly Emmerton