Credi – Bank of Mum and Dad

The so-called “Bank OMum And Dad”  has emerged as the 5th largest lender in Australia. It’s parents lending to their children, and also extends to friends and other family members.

What is BOMAD?

50% of first time home purchases have support from the “Bank OMum And Dad”, 33% of start-up, and 25% of SMEs are similarly reliant on financial support from Friends and Family.

In reality it’s always been there, its just got a name. Communities around the world use the “Bank OMum And Dad” as a starting point in their financial journey, and in the US it’s the second largest source of finance outside of credit cards.

In truth, financial support from those that know and care for us  touches us all, and underpins much of our financial life.

The COVID19 pandemic that is sweeping the world and outside of its impact on people directly health wise, is collapsing financial markets, putting millions of people out of work and causing  untold financial hardship.

In this world where people and nations come together, there is even more  need for “Bank OMum And Dad” to step in, support, help rebuild and invest, in our families, friends, communities and their futures.

Credi is a partner of CCA Pty Ltd and we can organise all documentation so that your dealings are documented and recorded legally.

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