Zopa: A Unique Lending Approach

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Provident is excited to announce a new type of lending program that is a perfect representation of the credit union philosophy of people helping people.

This new program, called Zopa, originated in the United Kingdom in 2005 and has now been launched in the United States. In a nutshell, Zopa enables credit union members to lend money to one another using Provident and Zopa as intermediaries.

Everything is handled online. Information on members wishing to borrow money is available on a Zopa-hosted Web site. These borrowers have been pre-screened for lending credibility and verified as credit union members. Once you've decided to participate, you can visit the Web site and choose the individual whom you would like to assist. Once you've partnered up with your borrower, Provident and Zopa will handle the transaction. Or, if you wish to borrow, you'll go through the screening process and be partnered with a lender.

Learn more about this innovative way to help a fellow credit union member — read the press release or visit www.zopa.com