Be like Arlo: A life’s journey brings financial inclusion to others
Nurturing a credit union community of diversity, equity, and financial inclusion begins at the top, and it can rise from the most unexpected backgrounds.
In observance of Black History Month, the credit union movement continues its long-standing mission to improve financial inclusion on behalf of communities everywhere. In particular, we focus on the effort to execute on innovative digital solutions that will help the underbanked who have been unfairly or inadequately underserved by the financial system, its institutions, and especially the inherent deceit employed by private predatory lending networks.
And there remains much to improve on the road to true financial inclusion for Black American communities today. In a Federal Reserve report in late 2022, Black Americans still had the highest underbanked rate of any demographic group at 27 percent while also having the highest underbanked and unbanked rates of any race or ethnicity.
Yet with the unconventional perspective and leadership of community leaders anywhere and everywhere who take overwhelming action to bring growth, access, and affordability to their neighborhoods and families, there is always hope and opportunity for financial inclusion for any community.
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