Life Event Loans Archives

How racial bias informs why the current credit scoring system needs a change

For most consumers in the United States, a good credit score represents a pathway to increased wealth and access to a “better life” — the American Dream. As we are beginning to discover, however, not all pathways may be equal to every one of us. Not all are fair. Traditional credit scoring systems have received […]

Who are America’s credit invisible consumers, and how can credit unions help?

Financial Inclusion

It has never been said the journey through a given member’s financial life is guaranteed to be a walk in the park. There’s no doubt your days may occasionally include member stories of credit mismanagement, or working with members to guide them back from the brink of long-term financial distress. After all, an Intuit study […]

CUNA’s 7 insights on how digital transformation strengthens the credit union experience

Financial Inclusion

The effects of the COVID-19 pandemic, as it’s been widely recognized in the last year, accelerated mobile banking innovation in the financial services industry. While it’s also true that the technology for mobile banking had already set sail towards beautiful horizons, the coronavirus sped up our efforts in digital innovation in virtually every respect. Some […]

How credit unions can maximize financial inclusion for members

Financial Inclusion

Here is a statistic to grab your attention: According to a Financial Health Network study, underserved consumers spent $189 billion on fees and interest across five financial product categories in 2018 that included short-term credit. It shouldn’t come as a surprise when the Center for Financial Services Innovation (CFSI) estimates that 57 percent of consumers […]

2021 Tekkie Award for Data Analytics: Northwest Community Credit Union

Financial Inclusion

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How CDFIs represent what is possible for underserved communities

Financial Inclusion

“CDFIs, at the heart of it, are community lenders. If you think about where banks step out, CDFIs step in. They deliver responsible capital where it is needed in a very place-based, community-first approach. Most CDFIs are nonprofits and there is tremendous alignment around ensuring their borrowers are successful. They win when community wins.” Catherine Berman, […]

Small but mighty credit unions work to nurture communities out of COVID

Financial Inclusion

Millions of consumers in the United States are learning to re-adjust to this near post-COVID period. Many are also re-thinking their approach to newfound financial challenges, how to overcome them, and how to take proper steps to improve their financial wellness goals. Tough concepts when a member or their loved one has been furloughed or laid off in […]

Life Event Loans

How racial bias informs why the current credit scoring system needs a change

Who are America’s credit invisible consumers, and how can credit unions help?

CUNA’s 7 insights on how digital transformation strengthens the credit union experience

How credit unions can maximize financial inclusion for members

2021 Tekkie Award for Data Analytics: Northwest Community Credit Union

How CDFIs represent what is possible for underserved communities

Small but mighty credit unions work to nurture communities out of COVID

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