3 thoughts on “Match made in heaven: the beauty of Zopa finance is, it cuts out the bank ‘middleman’!”

  1. I have been reading a lot about Zopa recently and have looked into it quite closely. I like the ethos behind it, especially as it cuts the bank out. Great that you have made some good investments and how lovely to think that your money is being used to set somebody on lifes path. I am also very interested and keen on credit unions. I like the idea that the money goes into a specific community for that too. Power comes in numbers so lets hope that these things start to grow more.

  2. Can’t agree more. One day, I also want to start a scheme for micro financing people usually considered very high risk by banks. Once, a long time ago, a friend of mine told me a story that I have been carrying around for over twenty years. Here it is:

    My friend used to walk down Oxford Road in Manchester everyday to go to work. At the time one couldn’t walk even 10 meters on Oxford Rd without seeing a beggar – some of them were rather aggressive as well. Gradually, my friend started talking to one of them – a middle aged man, and from time to time buy him food and a hot cup of tea. One morning, my friend saw this beggar and he looked thoughtful. When the story came out it turned out that he has been offered accomodation but didn’t have enough to put down for the deposit.

    ‘How much do you need? – asked my friend.
    ‘Twenty pounds’ – was the reply.

    My friend gave him £20. Five years he met this man on the street and could not recognise him – he was clean, well dressed and still living in the accomodation he got with my friends help. Best part – he gave my friends £20 pounds back with his gratitude and respect. He had a job and generally rebuilding his life.

    Now this is the kind of story I like!

  3. Credit Unions are fantastic. I have been in our local one for years, then also joined a bigger one as it offered a current account. Unfortunately, offering current accounts was an experiment being run over two years, and they have recently informed the members that the service is being withdrawn. The reasons were lack of take up from members and the difficult economic climate, but it is a shame because I have loved being free from the big banks.

    I will be reading up on Zopa as it sounds very interesting, and if you can get a higher return, help other people and take business off the big bank it makes me happy!

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