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Chime Courts $75K-Plus Earners as Instant Loans Grow 30%

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Chime Courts $75K-Plus Earners as Instant Loans Grow 30%

Consumers earning at least $75,000 were Chime’s fastest-growing group of new sign-ups.

The Instant Loans loss rate rose to 6.3% as more Prime members borrowed for the first time.

Chime expects its employer business to contribute meaningfully to member growth in 2027.

People earning at least $75,000 a year are Chime’s fastest-growing group of new sign-ups. They’re also more likely to send Chime their paychecks, giving the company a shot at becoming their primary account and making more of them eligible for installment loans.

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“These folks are signing up for direct deposit at a faster clip, and a greater percentage of them are doing $3,000 or more of deposit in order to qualify for Chime Prime,” CEO Chris Britt said in the analyst Q&A on Wednesday’s (Nov. 4) earnings call.

Prime membership makes customers eligible for Instant Loans. Chime originated $381 million through the product in the third quarter, up about 30% from the prior quarter. President and Interim Chief Financial Officer Mark Troughton attributed much of that growth to Prime. He also said first-time borrowing by Prime members pushed the loss rate to 6.3% and that he expects another small increase this quarter. Annualized loss rates for repeat borrowers were up to 50% lower than for first-time borrowers.

Direct deposit gives Chime a view of the money coming in and going out when it decides how much to lend.


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