Experts Online: Providing Low-Cost Consumer Financial Services in Low-to-Moderate Income Communities
Date Published: 01/14/2009
Archived webcast from 01/14/09 - LISC's Family Income and Wealth Building Program, Rural LISC and The Field Resources and Learning Unit hosted this webcast, which discusses nonprofit solutions for providing low-cost financial services in low-income communities.
Event Description
Innovative Nonprofit Solutions
More than 40 million US households are financially underserved, lacking access to appropriate, reasonably-priced financial products and services for their short-term transactional and longer-term credit and asset-building needs. Many nonprofit organizations have developed innovative solutions to this problem, often in partnership with financial institutions.
Topics covered:
- The connection between financial services and asset building
- Why nonprofits have a unique advantage
- Examples of nonprofits that have developed innovative financial service solutions for low-income households and their creative partnerships with financial institutions
Presenters
- Sarah Gordon, the Nonprofit Relationship Manager for the Center for Financial Services Innovation moderates the session, describing the link between financial services and asset development, and providing an overview of the various types of nonprofit/for-profit initiatives offering financial services and asset development opportunities in low-income communities across the country.
- Larrey Riddle the Program Manager, Common Cents Financial Initiative for the Mountain Association for Community Economic Development, Inc. (MACED) in Kentucky discusses the alternative pay-day loan product MACED offers through their employer partners and local credit union.
- Joshua Wright, the Director of Social Enterprise Programs for the Center for Community Change in Washington D.C. describes their low-cost re-loadable debit card program. This card helps workers who cannot or are uninterested in opening a bank account have a low-cost and safe option to manage their financial transactions.
Who would be interested?
This webcast was targeted for LISC staff, community-based organizations, CDFIs, as well as credit unions and banks interested in offering innovative transactional financial services in low-to-moderate income communities.
Archive:
This session was conducted using ReadyTalk and is available as streaming media on the ReadyTalk web site: View recording here
Note: If you do not have Flash installed on your browser, you will be prompted to install Flash before viewing.
Downloads:
> Presentation Packet (PDF, 901 KB)
Type: Archived Webcast - Experts Online