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My Zopa CD is No More

November 17th, 2008 — Zopa

I received the following email… I had known it was coming: Zopa Shuts Down US Branch

With all of the turbulence in the financial markets these days, we want to let you know that your Zopa CD is as safe and secure as ever. As you know, your Zopa CD was issued by Provident Credit Union. In addition to putting their members’ interests first, one of the great things about credit unions is that they did not get caught up in subprime lending like the big banks, so they remain on solid ground. All of your Provident Credit Union deposits, including your Zopa CD, are federally insured by the NCUA (National Credit Union Administration) up to at least $250,000 and backed by the U.S. government.

So your money is in good hands and absolutely safe.

We also wanted to let you know that effective immediately you will now have a direct member service relationship with Provident Credit Union. You will soon receive more information from Provident Credit Union introducing their excellent customer service staff, online banking options and other great features of being a member. Your new customer service contact information is:

Provident Credit Union
Phone: 800.632.4600 or 650.508.0300
Website: www.providentcu.org

NOTE: You will shortly receive information from Provident on how to set up a new process for your statement viewing and secure e-mail access if you do not already have Provident Credit Union Account Manager online banking access.

We at Zopa have certainly appreciated the opportunity to serve you up to this point and thank you for your business. We know that you will receive superlative customer service from Provident Credit Union as well as access to an entire range of excellent products and services.

Give us a call at (888) TRY-ZOPA if you have any questions about the servicing transition – otherwise, call Provident Credit Union directly at the number above to meet the customer service folks that will take care of you from this point forward.

The Zopa Team

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Zing Funding to Launch?

July 21st, 2008 — Zing Funding

I received a rather unusual linked in connection request today… I thought it was out of the blue and almost deleted it… (It may have been out of the blue, but since I cover p2p lending I thought I would take the opportunity to scope/scoop the story.)

The website just has a sign up form to collect your email: Zing Funding

I was able to find some information on several public linked in pages.

From the public profile of Robert Gloer President and CEO at Zing Funding LLC:

Zing Funding LLC D/B/A ZingFunding.com is a Peer to Peer or Social Lending Firm based in the Atlanta GA area. Zing will be launched live at www.ZingFunding.com in October 2008. Investors can lend capital to individual consumers via the internet - consumers can borrow from individual investors. The process allows investors to make a greater ROI than they can typically get from banks and consumers get typically lower rates than they could get from a bank for an unsecured loan or credit card. Zing Funding does all credit due diligence on the consumer and provides the investor a ZingAdvantageScore which will be a far greater credit profiling tool than the traditional FICO score alone. Keep an eye on it - it’s going to be big…… We will be creating the same great culture we had at First Franklin…..

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