Emergency savings program – partnering for all the right reasons

It’s a statistic we’ve heard on newscasts and in any number of settings over the past few years. More than 40% of Americans would struggle to find the funds to pay an unexpected $400 expense. 

So how do you make savings easier and more intuitive for individuals and families?

You partner with mission-aligned organizations to develop a meaningful and sustainable solution. One that’s not the result of competing with others in the marketplace, but instead built on solving the problem within communities by increasing consumers’ financial well-being.

That’s what happened when VisiFI and Common Cents Lab at Duke University joined with the Inclusiv FIT Council to participate in the Building Emergency Savings initiative. The project targeted low- and moderate-income individuals in an effort to enhance their financial inclusion and improve their financial health. Offered through Minority Designated Institutions, like the Guadalupe Credit Union in Santa Fe, New Mexico, the pilot is now a product offering.

 

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