Chicago Credit Building Coalition

“Chicago Credit Building Coalition” launched to support financial inclusion through coaching, access to products, and credit monitoring

On Friday, July 22, the Chicago Credit Building Coalition, a group of 11 local Chicago community organizations and Citi, was launched to expand financial empowerment for residents in the Chicago area through a new financial access initiative along with financial coaching. As part of the program, Citi is providing access to the Banamex USA secured credit card to compliment financial coaching and credit building programs community partners have developed to support individuals working to build positive credit histories and financial capability.

Credit building is a key component of asset building and achieving financial inclusion. Basic access to services and pricing are often significantly predicated on one’s credit history, and not just in financial services. Individuals with ‘thin files,’ who strive to formally establish a positive credit history and others that may have faced challenging times and are working to rebuild their credit history, can receive valuable support from organizations that combine financial coaching with innovative credit building tools.

On Friday, July 22, the Chicago Credit Building Coalition, a group of 11 local Chicago community organizations and Citi, was launched to expand financial empowerment for residents in the Chicago area through a new financial access initiative along with financial coaching. As part of the program, Citi is providing access to the Banamex USA secured credit card to compliment financial coaching and credit building programs community partners have developed to support individuals working to build positive credit histories and financial capability.

By working together, we have created a program that is comprehensive and will have wide reach. Importantly, it’s also a program with the potential to scale – and we will look for opportunities to implement similar collaborations in other markets.

Regards,
Bob

The press release is available here.

<div style=“margin-top: 0px; margin-bottom: 0px; font-size: 9pt;”>Credit  building is a key component of asset building and achieving financial  inclusion. Basic access to services and pricing are often significantly  predicated on one’s credit history, and not just in financial services.  Individuals with ‘thin files,’ who strive to formally establish a  positive credit history and others that may have faced challenging times  and are working to rebuild their credit history, can receive valuable  support from organizations that combine financial coaching with  innovative credit building tools.</div>
                                <p style=“margin-top: 0px; margin-bottom: 0px;”> </p>
                                <div style=“margin-top: 0px; margin-bottom: 0px; font-size: 9pt;”>On  Friday, July 22, the Chicago Credit Building Coalition, a group of 11  local Chicago community organizations and Citi, was launched to expand  financial empowerment for residents in the Chicago area through a new  financial access initiative along with financial coaching. As part of  the program, Citi is providing access to the Banamex USA secured credit  card to compliment financial coaching and credit building programs  community partners have developed to support individuals working to  build positive credit histories and financial capability.</div>
                                <p style=“margin-top: 0px; margin-bottom: 0px;”> </p>
                                <div style=“margin-top: 0px; margin-bottom: 0px; font-size: 9pt;”>By  working together, we have created a program that is comprehensive and  will have wide reach. Importantly, it’s also a program with the  potential to scale – and we will look for opportunities to implement  similar collaborations in other markets.</div>
                                <p style=“margin-top: 0px; margin-bottom: 0px;”> </p>
                                <div style=“margin-top: 0px; margin-bottom: 0px; font-size: 9pt;”>Regards,<br />Bob</div>