NAACP and TransUnion Unite to Provide Credit Education For All Stages of Life
30 März 2023 - 2:00PM
The NAACP and TransUnion (NYSE: TRU) announced today the launch of
Connecting to Our Financial Future, a credit education website
designed to promote financial inclusion among traditionally
underserved and underrepresented communities. The announcement
comes at a time when more than 45 million consumers in the U.S. are
considered to be either credit unserved or underserved, meaning
they have little to no credit products.
Traditionally, members of the Black community and other
historically marginalized communities have faced more challenges
building credit histories and accessing loans at reasonable rates.
The website, crafted specifically for these audiences, is designed
to reach people where they are in their credit journey — whether
just getting started, maintaining financial health or advancing
toward prosperity.
This includes a connection point to The Blueprint by MoCaFiTM
from Mobility Capital Finance, Inc., a fintech platform for
economic empowerment. This free application is designed to provide
a complete picture of a person’s financial position including
assets, liabilities, net worth, and credit profile.
“Even as people are increasingly empowered to responsibly access
financial services and achieve important personal outcomes, we
recognize significant populations — especially those in underbanked
and underrepresented communities — are unable to access quality
financial services because they have little or no discernible
credit history,” said Hilary Chidi, Executive Vice President, Head
of Credit Risk Solutions and Chief Sustainability Officer,
TransUnion. “Empowering people to reach their financial goals
through credit education is core to our mission of Information for
Good®. Together with NAACP, we want consumers to build their
understanding and own their success.”
Research published by TransUnion in 2022 found that Black
consumers realize the importance of credit to meet their goals,
with two-thirds saying that access is very important. However,
given historical systemic barriers they are less optimistic about
their prospects. Just over half of Black consumers (52%) believe
they’d be approved for credit such as a mortgage or credit card if
they needed it, compared to two-thirds of white consumers
(65%).
“Building and establishing credit within the Black community is
important now more than ever,” said Derrick Johnson, President and
CEO, NAACP. “When we look at the current state of the economy, in
tandem with the need for community uplift and sustainability, it’s
pertinent that Black people place importance on building our credit
scores so we can ensure community prosperity. Partnering with
TransUnion, we’re bringing credit education to life for our
community and meeting them at different stages in life to support
their place in this journey: stability, sustainability and
prosperity.”
Visit naacp.org/credit-101 to access the credit education
website.
For more information on TransUnion’s commitment to financial
inclusion and racial equity, visit
transunion.com/sustainability.
About NAACP
The NAACP advocates, agitates, and litigates for the civil
rights due to Black America. Our legacy is built on the foundation
of grassroots activism by the biggest civil rights pioneers of the
20th century and is sustained by 21st century activists. From
classrooms and courtrooms to city halls and Congress, our network
of members across the country works to secure the social and
political power that will end race-based discrimination. That work
is rooted in racial equity, civic engagement, and supportive
policies and institutions for all marginalized people. We are
committed to a world without racism where Black people enjoy
equitable opportunities in thriving communities.
About TransUnion (NYSE:TRU)
TransUnion is a global information and insights company with
over 12,000 associates operating in more than 30 countries. We make
trust possible by ensuring each person is reliably represented in
the marketplace. We do this with a Tru™ picture of each person: an
actionable view of consumers, stewarded with care. Through our
acquisitions and technology investments we have developed
innovative solutions that extend beyond our strong foundation in
core credit into areas such as marketing, fraud, risk and advanced
analytics. As a result, consumers and businesses can transact with
confidence and achieve great things. We call this Information for
Good® — and it leads to economic opportunity, great experiences and
personal empowerment for millions of people around the
world.
http://www.transunion.com/business
Contact for TransUnion |
|
Contact for NAACP |
Dave Blumberg |
|
Jonah Bryson |
david.blumberg@transunion.com |
|
jbryson@naacpnet.org |
312-972-6646 |
|
|
TransUnion (NYSE:TRU)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
TransUnion (NYSE:TRU)
Historical Stock Chart
Von Apr 2023 bis Apr 2024