What is the Reaching Minority Households Incubator?
It’s a multi-year program with support from Visa to understand gaps in financial access for minority households, identify and test solutions to help close these gaps.
Why is this work important?
Minority households are twice as likely to live in asset poverty (inability to access funds to support three months of living expenses) and 50% of households of color are considered un- or underbanked. The gaps to financial access for minority households must be closed. We know successful, local products and programs are having an impact and it is imperative for us to broaden their scope across the country.
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The 11th hour, of the 11th day, of the 11th month, 1918. The end of the First World War. Internationally this is now celebrated each year as reminder to us of all our service men and women who dedicate their lives for their countries. Known as Armistice Day internationally and Veterans Day in the USA, this a time for all of us to reflect on how lucky we are that our forefathers gave their lives, and our family and friends today continue to still give their lives to fight for modern democracy.
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Filene has 11 (plus!) years of research on young adults and millennials, a recent publication entitled: ‘What Millennials Want’ (which explains… well… what millennials want) gives great insight into the future of, what is today, the largest generation. We all know millennials are important, but serving the diverse needs of this demographic is not easy. In fresh-off-the-presses research, ‘Young Entrepreneurs: Are credit unions doing enough to help?’, we find that we’re not the only ones focusing on this topic.
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