Redefining Microloans Beyond Credit Scores

From Wall Street to fintech, James Chemplavil has seen both sides of lending. After 16 years underwriting corporate debt at Barings, he launched Salus to tackle a problem too many hardworking people face: being denied small but critical loans. Now as Founder and CEO, James is helping credit unions use alternative data and automation to extend microloans, attract younger members, and cut charge-offs. In this episode of 22 Minutes in Lending, James joins host Vince Passione to share the Salus origin story, why credit unions are the ideal partners, and how technology is rewriting the future of microfinance.Key Takeaways0:44 – James shares the personal story that pushed him from underwriting billion-dollar debt at Barings to building Salus, designed to fix access to small but critical loans.02:52 – How collaboration, community focus, and tech gaps made credit unions the perfect proving ground for Salus.04:21 – James explains why “cash in vs. cash out” is the new king metric, and how traditional scores miss millions of good borrowers.06:10 – How Salus cuts staff time out of microloan processing, making $500 loans make sense for credit unions.08:25 – The ideal credit union for microloans? Those wanting to pull in Gen Z and those doubling down on community impact.09:34 – Predictive analytics that surface member stress before they default give credit unions a shot to be proactive, not reactive.13:41 – A peek at how transaction data separates two “identical” 620-score borrowers into wildly different risk profiles.15:31 – How Salus slashes charge-offs from 27% to as low as 3%, giving credit unions control over their risk vs. reach.17:52 – James explains why the play isn’t P&L—it’s the lifetime value of turning Gen Z and millennials into members for life.19:59 – Why earned wage access is the front door to member acquisition, deposits, relationships, and sticky growth.21:50 – Salus’ roadmap: helping members graduate from microloans to auto and mortgage loans. Resources Mentioned:Salus: https://www.salusfintech.com/LendKey: https://www.lendkey.com/ Thanks for listening to the 22 Minutes in Lending podcast. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show and be sure to subscribe so you never miss another insightful conversation.#CreditUnions #Fintech #22MinutesInLending #Microloans #LendingInnovation

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