Inclusiv Network and Experian Launch Partnership to Support Financial Empowerment for the Latino Community
Juntos Avanzamos designated credit unions will have access to new Spanish-language credit education tools
New York City, May 10, 2022 – Inclusiv Network, the only national association representing CDFI certified, and minority designated credit unions, and Experian North America join forces to promote financial inclusion and asset building opportunities for credit unions and their consumers, with a special focus on those in the Hispanic community. Through this new partnership, Experian will provide credit education resources for consumers and small businesses in English and Spanish, and custom credit education training to help Inclusiv members serve their 17.2 million consumers.
Experian also now becomes the exclusive credit bureau partner for the association’s Juntos Avanzamos program, a financial inclusion framework for credit unions serving the Hispanic, immigrant, and refugee communities. This program designates credit unions that provide critical access to responsible, affordable and sustainable financial products and services through a network of over 900 community branches serving more than 9 million consumers in 27 states, the District of Columbia and Puerto Rico. From 2000 to 2020, more than half of the total US population growth came from the Hispanic community, which by 2024 is projected to reach 72 million. Yet almost two thirds of low-income Latinos are either unbanked or underbanked.
“Through this partnership, Inclusiv and Experian will make available financial education resources to connect Latinos, immigrants and refugees with asset building tools to achieve financial security, build communities and make an ever bigger economic contribution to the nation,” said Pablo DeFilippi, executive vice president for Inclusiv Network.
The collaboration is part of the Inclusion Forward – Experian Empowering Opportunities™ initiative. By harnessing Experian’s data, analytics and technology, financial institutions can advance and achieve their financial inclusion objectives and provide more affordable credit access for underserved communities.
“Fair access to credit helps consumers reach their life’s goals. Even something seemingly as simple as providing tools and resources in-language can break down barriers to that access. This work is part of our commitment to financial inclusion for all. We’re proud to partner with community development financial institutions (CDFIs), minority deposit institutions (MDIs) and organizations like the Inclusiv Network, to reach and empower the underserved,” says Wil Lewis, Experian’s global chief diversity, equity and inclusion officer.
The Inclusiv Network is the only national association for CDFI certified and minority designated credit unions. With more than 450 mission driven credit unions, serving over 17 million predominantly low-income consumers, Inclusiv is the recognized credit union industry’s financial inclusion and community development authority. Inclusiv is the largest CDFI network in the country and its members serve more people and manage more assets than the entire CDFI industry combined. For more information on Inclusiv, visit www.inclusiv.org.
Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
We have 20,000 people operating across 44 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.