LendUp expands access to credit to many financially excluded Americans -- but since access itself is only one piece of the puzzle, we’re also invested in improving our customers’ financial well-being.

We set out to do this with our first product, the LendUp Ladder. And since 56 percent of American consumers have subprime credit scores, we’re driving at this problem from an education and access perspective. For example, current customers earn points for taking our education courses. These points then help responsible customers in eligible states move up the Ladder more quickly to qualify for larger loan amounts at lower rates.

And while you may not have a need for a short-term loan now, that shouldn't stop you from building your financial knowledge and planning for the long-term. Did you know that 19% of Americans spent more than their income in a given year, according to a 2012 report? And according to FINRA’s National Financial Capability Study, 36% of Americans make ends meet by breaking even, meaning that they aren’t putting money away in their savings:


Source: FINRA National Financial Capability Study

What’s more, 61% of Americans do not compare, or shop around for, credit cards:


Source: FINRA National Financial Capability Study

With all that in mind, we’re excited to announce that LendUp’s education platform is now open to everyone.

If you’re not sure where to start when it comes to personal finance, consider a few questions:

  • Would you like to know more about the benefits and risks of using a credit card?
  • Are you trying to better understand your finance charges?
  • Would you like a refresher about the fundamentals of savings?
  • Do you have an error on your credit report, but you’re not sure how to correct it?
  • Would you like some simple tips on how to better protect yourself online?

While we think brushing up on personal finance is a good first step, we’d like to create even more pathways to financial well-being. After all, true financial capability goes beyond knowledge to actual changes in behavior, attitudes and beliefs -- and we’d like to help more people get there. Stay tuned for more educational opportunities from LendUp!

Is there an area of personal finance that you’d like us to cover in a course or Fast Financial Fact? Where do you struggle with managing your finances? We’d like to know! Or, are you an organization that’s interested in collaborating? Please get in touch at education@lendup.com.