Credi news and media releases


Formalising the bank of Mum and Dad with Credi – Kaplan feature

formalising the bank of mum and dad

Kaplan Professional is a leading Australian education and training provider in Financial and Real Estate Services. Kaplan’s recent article on formalising the bank of mum and dad highlights statistics on informal lending between friends and family. This article further highlights the solution to informal lending, being loan documentation and management through platforms such as Credi.

Their recent article on ‘the bank of mum and dad’ and relationship lending highlights various statistics on informal lending between friends and family. It further highlights a solution to informal lending, being loan documentation and management through platforms such as Credi.

‘The bank of mum and dad’, is one of Australia’s largest informal loan providers each month accumulating billions of dollars of transactions. However, for the financial services industry, it remains a largely under utilised resource.

A Commonwealth Bank study completed in 2012, highlighted that “Australians borrow more than $1.6 billion per month from their family and friends”.

A survey by ANZ bank in 2012 also revealed that 23.5% of Australian’s owed family and friends and a mere 5.1% had a personal loan from a bank.

While there are advantages to borrowing from our ‘nearest and dearest’, such as lower interest, the emotional effects can be significant. The informality of borrowing from friends and family can potentially negatively affect or ruin a relationship.

That’s where ‘software as a service’ or SaaS comes in. Platform’s such as Credi, have emerged worldwide in the hopes of helping people semi-formalise the lending and borrowing process. Not only do these platforms help protect relationships when lending money, they also aid in formalising and documenting the process, along with financial educate children on managing a loan.

Read the article in full here

Credit: Kaplan Professional




Parents becoming key support for millennials struggling to enter the property market

parents support struggling millennial children

The bank of mum and dad are playing a key role in helping their struggling millennial children purchase their first homes writes CBC News.

A significant number of millennials in Canada plan to buy a home soon, however, they believe they are a long way from being financially ready to enter the market. HSBC commissioned  Kantar TNS to complete a global survey of 9,000 adults, in the homes of capturing home buying attitudes globally.

The result gathered showed that 1/3 Canadian Millennials currently own their own home and amongst the 2/3 that didn’t 82% stated they intend to buy within the next 5 years.

However, the most staggering statistics was that 73% of these individuals wanting to buy in the next 5 years hadn’t yet started saving for a down payment.

Numbers suggest that parents playing a key role in first home property purchases. With more than 1/3 of the sample group saying they have received financial support from the bank of mum and dad to pay for housing costs.

Credit: Pete Evans





Fathers Day praise for the bank of Dad’s in Perth – Credi in The Sunday Times

The Sunday Times celebrated Perth Fathers on Sunday by chatting with Tim Dean and writing about the generosity and love for our dad’s in regards to the bank of Mum and Dad.

Tim Dean went on to share in with journalist Jenne Brammer that the idea behind and how he was the head of his own branch of the bank of Mum and Dad. As a father himself he always gave to his kids when he could. However, when he lent money to his children issues occasionally arose, such as chasing up the repayments and the ‘moneychat’ (where he’d be asked for more money).

Then the innovative fintech platform was created. helps family and friends alike make loans between one another, helping avoid the stress and strain on a relationship. The platform provides users with a toolkit to formalise (with a legal loan document) and manage the process from start to finish, all within one place.

If you missed the chance to read Tim’s feature in The Sunday Times, don’t you worry!

Read it in full below!


Credi - The Sunday Times Perth

Credit: Jenne Brammer

Source: The Sunday Times


Is it really a bad idea lending to family and friends?

lending to family and friends

We’ve always been told never to lend money unless you’re willing to lose it, however, WeFinance’s Willy Chu writes of the positive aspects of lending to family and friends.

Within his article, Chu mentions the shift in attitudes in the US in regards to attitudes about transparency in regards to personal information such as finances and debt.

A recent study by Nielsen highlighted the increasing number of younger generations being more willing to lend to family and friends.

Read the article in full by clicking here!

Credit: Willy Chu




Seeking financial help for your business with bad credit

LeaseFunders infographic shows a great way to seek financial help for your business even when you have bad credit.

Poor credit can often hold you back and make it hard to get a loan. Getting help from family and friends isn’t always a bad idea. These kind of investments in a business and loans are becoming more frequent.

Family and friends are always there for you when it comes to a loan. If you show your willingness to do the right thing and repay the money you’re more likely to get the amount you need and receive further help in the future.

Check out the LeaseFunders infographic below

Credit: Lease Funders


LeaseFunders infographic shows a great way to seek financial help for your business even when you have bad credit



Study finds more young adults are relying on the bank of Mum and Dad

relying on the bank of mum and dad

Global News Canada’s journalist, Jon Azpiri, writes of a new study highlighting that more young adults rely on the bank of mum and dad.

Many successful Canadian adults are feeling the financial strain in renting and buying a property. Sandro Sgaetti, a 29-year-old working full time as a construction worker and camera man lives at home with his my mom and dad. “It’s too much money paying rent and trying to find a house in this town is pretty much impossible,” he shares.

CIBC’s surprising statistics also show that many parents are rearranging their finances to help their adult children. With one in four Canadian parents saying they spend more than $500 a month to support their adult children.

Watch the video to find out more about the impact of the Bank of Mum and Dad.

Credit: Jon Azpiri






Credi’s new records in August 2017

credi new records in august 2017, the platform that powers “the Bank of Mum and Dad” – has set new records in August 2017. Overall the platform has exponentially increased the number of users and overall loans on the platform.

This August 2017 saw $29 million worth of loans set up to be managed and formalised on the platform. With $9.5 million of this being active/live on our platform – seeing a 12% increase from last month.

The platform has also reached 1238 users on the platform. This has overall seen a 28% increase from last months user statistics.

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



Bad Lending experiences shared by listeners on Today FM Ireland

Have you ever had a bad experience when lending to family or friends? Don’t worry, you’re not alone. Today FM’s Paula MacSweeney highlights listeners bad lending experiences in her article and overall sums up ‘Don’t loan what you can’t afford to lose.’

Paula writes that most people who loan money to family and friends are too afraid to ask for it back. She goes on to point out that the average person from Ireland loses around 260 euro a year from unpaid loans between family and friends.

Check out the link to see some of the crazy experiences from listeners of the Early Breakfast show on Today FM. Some will leave you shocked!

Credit: Paula Macsweeney




Loan from the bank of Mum and Dad- 1 of 3 ways to help your child free themselves from debt

loan from the bank of mum and dad

‘Adulthood isn’t what it’s cut out to be’, Debt highlights 3 key ways to help your adult children become free from debt- one way is a loan from the bank of Mum and Dad.

Many millennials face the struggle of transition to a life of a financially independent grown up. Paying off loans, bills, expenses and day to day spending becomes challenging especially when they carry with them a significant amount of student debt.

Many young adults find themselves going to their parents for financial support.

Debt highlight 3 key ways to help your adult children.

One of their three key ways they believe to be ‘the right way’ to help them out and that won’t damage your child’s financial future or your relationship is a loan from the bank of Mum and Dad.

Read the article in full by clicking here!

Credit: Dan Wesley





New survey highlights peak millennials struggle in buying their first property

Garry Marr from Financial Post in Canada writes of the struggle peak Millennials face in buying their first property. Leger’s research outlines that 50% of 1000 surveyed believe the new mortgage regulations set by the federal government have impacted the type of property they can afford.

2/3 of the peak millennials (those between 25-30 years of age) surveyed do not own their own home and dream of owning a detached home. The online survey completed in June 2017 highlights that 61% of the sample would prefer to buy a detached home, however only 36% believed they could afford it.

Leger’s research also highlights that 14% of those surveyed live with their parents. The article further highlights that the bank of Mum and Dad will continue to be a support, with 25% of respondents saying they’d seek financial support from their families.

Garry Marr further goes onto highlight the shared difficulty between peak millennials in affording to buy their first property. Marr also goes onto highlight the new mortgage regulations and it impacts on the market.


Peak Millennials struggle to buy first property


Check out the video and article here!

Credit: Garry Marr