For Immediate Release:
Inclusiv Releases New Impact Report
Community Development Credit Unions: Financial Inclusion in Action
November 6, 2023, New York, NY – Inclusiv is proud to announce the release of our Community Development Credit Unions: Financial Inclusion in Action report that highlights the extraordinary impact of Community Development Credit Unions (CDCUs) in the low-income communities and communities of color they serve. The report illustrates Inclusiv member credit unions’ and cooperativas’ remarkable reach as well as the scale and types of lending they deliver in their communities. Also featured are success stories of individual CDCUs, underscoring the critical role they fill for people and communities excluded from the financial mainstream.
“Inclusiv’s network of CDCUs has unparalleled reach and impact – CDCUs served more than 19 million people in urban, rural, reservation and island communities and made more than $107 billion in high-impact loans last year. Our member CDCUs are leading the way in providing affordable and innovative products and services to meet the diverse needs of the communities they serve, communities that are often targeted for predatory practices. We are proud to support their work and excited to highlight their deep community impact,” said Cathie Mahon, President/CEO, Inclusiv.
“Our shared commitment to advancing financial inclusion in communities across the country is why TruStage supports Inclusiv’s work to deepen and measure the impact of CDCUs. This report underscores the vital role CDCUs play in their communities,” said Christopher Roe, Senior Vice President, Corporate & Legislative Affairs, TruStage.
“The Inclusiv Network is dedicated to the financial empowerment of communities of color and working to close the racial wealth gap. The Network’s strong track record of lending in Black, Hispanic, Asian and Native communities clearly illustrates our Network’s commitment to expanding access to affordable homeownership in communities of color,” said Ann Solomon, Senior Consultant, Inclusiv.