West Credit Union created innovative solution for effective and efficient benefit exchange for new class investors. In order to increase fund value West Credit Union is eliminating third party involvement once and for all and creates the opportunity to earn high rates on direct financing.
HOW IT WORKS
West Credit Union model seeks investors with liquid investment creation power and borrowers who are in need of short-term cash benefit.
The working model is following: As a first stage west credit union brings Investors and Borrowers together, then the platform algorithm matches them together according to their needs and preferences. Both party is obliged to apply for the agreement or separately follow company’s standard procedure. After getting evaluated and approved exchanging benefits starts.
The key risk to our investors is increased borrower default rates. We seek to mitigate this risk through:
Underwriting excellence: Robust and thorough credit checks on all borrowers. We take a careful approach to lending and only lend to creditworthy borrowers.
Portfolio management: Lending is diversified across different borrower types and sectors.
The Provision Fund: Provides a buffer against poorly performing loans. The Provision Fund has a 100% track record, with every investor receiving back every penny they expected, but this does not provide a guarantee.