The critical importance of mission-driven lenders

The role of community development financial institutions (CDFIs) and minority deposit institutions (MDIs) providing greater access to low-income and underserved individuals and families is essential. CDFIs and MDIs serve as the bridge to possibilities supporting consumers and small business owners in their communities. With more than 106 million consumers being credit invisible, unscoreable or considered subprime,1 the need for fair and affordable credit access has never been greater.

At Experian®, we share the same values as CDFIs, MDIs and those investing in them. Through our Inclusion Forward™ program, we continue to innovate for inclusion, providing solutions and resources to help close the financial wealth gap. 

Source: 1 Oliver Wyman white paper, “Financial Inclusion and Access to Credit,” January 12, 2022. 

Creating a bridge to financial inclusion

We can support your goals by providing solutions, tools and resources that accelerate impact.

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Powering the growth and reach of CDFIs and MDIs

The impact of mission-driven lenders within the financial inclusion ecosystem continues to increase as more organizations earn CDFI certification and greater financial investments are made by the U.S. Treasury and other large institutions.

$9 billion

in capital to be invested into CDFIs and MDIs by the U.S. Department of Treasury.

Source: ECIP Program

143

FDIC-insured MDIs in the United States, with combined total assets of nearly $326 billion.

Source: FDIC 

1,200+

CDFIs in the United States, managing more than $222 billion in assets.

Source: Opportunity Finance Network

dei-cdfimdi-tools

Financial inclusion tools

Technological innovations such as Lift Premium™, Experian Boost™, Experian Go™ and Social Media Insight™ are shaking up the conventional scoring system by helping lenders bring in alternative credit factors to fill out the credit picture. For lenders, the emergence of alternative data helps them make informed business credit decisions among a wider number of customers and prospects.

partner-inclusiv

Inclusiv and Experian Team Up To Support CDFIs

Experian has joined forces with Inclusiv Network, one of the leading CDFI associations in the country totaling more than 450 credit union members, to promote financial inclusion to Hispanic/Latino consumers. Experian will provide financial resources to Inclusiv’s network that serves 17.2 million consumers to help achieve greater financial pathways, including free credit education solutions. This partnership will leverage the growing network of Juntos Avanzamos designated credit unions that provide access to affordable financial products and services through a network of over 900 community branches across several U.S. states.

Financial inclusion is a strategic imperative for financial institutions.

Alison Carr, Your Credit Union Partner

Your mission is our priority.

If you’d like to learn more about how we can support your financial inclusion goals, please fill out the form below. If you’d like to speak with a representative immediately, please call us:

1-855-848-3687

We are unable to address personal credit report and/or membership inquiries via this business form. Visit Experian.com/help or call 888-397-3742 for consumer assistance.

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