Racial Economic Equity Incubator
Advance racial economic equity throughout the credit union system by co-creating interventions that meet local needs while emphasizing relationship building.
REE Incubator Details
Millions of Americans – particularly those in communities of color – lack access to responsible credit, affordable financial products, and institutions that support their overall well-being. Financial institutions have long been mistrusted by marginalized and vulnerable communities – often for good reason, considering deep histories of discrimination and disinvestment. However, as cooperative financial institutions embedded within communities, credit unions have tremendous potential to affect positive systemic change.
With a 15+ year successful track record of testing and scaling solutions, Filene has launched a brand-new initiative: The Racial Economic Equity (REE) Incubator.
The REE Incubator is looking to develop a new norm and practice within the credit union industry by examining co-creation grounded in a racial equity lens. Through this approach, participating partners in the REE Incubator will identify opportunities to test, refine and evaluate strategies to close the racial wealth gap, and develop a process map centering an equity lens.
Be Part of the Incubator
Over the course of 9 to 12 months, we will create a multi-phased approach beginning with design and facilitation of REE Incubator’s co-creation and planning process, putting us in a position to launch live product tests in 2023. Some of the questions we will answer include:
- What do communities across America need and want to advance racial economic equity?
- How can credit unions be a more effective partner in reaching these goals?
- How explicit are credit unions in advancing financial equity when working with partners and programs?
- How do we build the REE Incubator to bring the collective power of the credit union movement together to accelerate racial economic equity?
Help us transform systems, products, and services to support Black, Indigenous, Latinx, Asian-American, and other historically marginalized residents. Together, we can take these ideas and put them to the test to create meaningful change for the industry.