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 subprime1, 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: 1Experian and Oliver Wyman

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. Department of Treasury and other large institutions.

$3 billion

of investments to CDFIs and MDIs by the U.S. Department of Treasury.

Source: EOC

147

FDIC-insured MDIs in the United States, with combined total assets of nearly $344 billion.

Source: FDIC 

1,300+

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

Source: Opportunity Finance Network

coworkers brainstorming together

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 graphic for inclusion forward

Inclusiv and Experian team up to support CDFIs

Experian works in partnership with Inclusiv Network, one of the leading CDFI associations in the country totaling more than 500 credit union members, to promote financial inclusion to Hispanic/Latino consumers. Experian provides financial information to Inclusiv’s network that serves 18.7 million consumers to help achieve greater financial pathways, including free credit education solutions. This collaboration leverages 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.

Financial inclusion is a strategic imperative for financial institutions.

Alison Carr, Your Credit Union Partner

Insights

Infographic

Navigating financial inclusion for credit unions

Experian can guide lenders through the twists and turns by leveraging our data, strategy and technology.
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Measuring financial inclusion: A lender’s checklist

Discover ways you can set goals and measure outcomes to help you prioritize financial inclusion.
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How credit unions can improve financial inclusion

Increase financial access and opportunities in the communities you serve.

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.

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