The CEO of Zopa, Doug Dalton, appears on CNBC to shed some light on Zopa and promote the credit union relationship. Doug does an excellent job in this video explaining the concept especially considering the short window he was given and the questions presented to him.
fred on September 13th, 2008 at 02:44 AM
What is the volume and value of the loans done by Zopa this year?
How do the rates paid to personal lenders compare to the other p2p loan services?
Jane on September 13th, 2008 at 03:48 PM
What is Zopa’s volume and value of loans for 2008? How do their rates compare to other P2P sites for the lender?
Doug True on September 13th, 2008 at 08:20 PM
I can’t speak to the overall Zopa volume, but here at FORUM Credit Union in central Indiana our volume has been light thus far. We are one of the six credit unions that have started the Zopa program here in the United States. We haven’t done any advertising of the offering other than what is on our web site. We do expect the volume to increase as people learn about Zopa. You really can’t compare rates/returns for the lenders or as Zopa calls them investors since the model is different with Zopa than other P2P players. All investors/lenders with Zopa receive an insured certificate of deposit and do not risk their deposit. The insurance comes from the credit union and their NCUA insurance. Other P2P providers likely provide a higher rate of return, but you can lose your money as a lender – not so with Zopa. Doug Dalton talks about the insured deposit in his video. Hope this helps.