Boston Builds Credit has had a busy spring and summer so far! Read on below to catch up on our latest news, learn more about our partners, and find ways to connect with us. As always, if you have any questions, feel free to email our Director, Allison Kroner, at firstname.lastname@example.org.
BBC Year One Convening
On May 30, BBC held its Year One Convening at Hibernian Hall, Roxbury. The event saw researchers, participants, stakeholders, and partners in the field come together to reflect on BBC’s first year and discuss the impact of this Boston-wide credit-building movement. Our gratitude goes to our lead sponsor, Citi Community Development, for making this event possible. Take a look at the write-up from the Mayor’s Office of Financial Empowerment here.
BBC Community Conversation
With generous support from Bank of America, BBC held a Community Conversation on April 4, providing an opportunity for 125 participants to discuss and learn about our growing movement for change. Boston resident Cynthia Jones gave an inspiring talk on how BBC has helped her improve her credit score and increase her financial health and resilience. A lively panel discussion followed, with partners from IBA, Bank of America, Roxbury Center for Financial Empowerment, and Working Credit NFP offering audience members additional insights on BBC's multifaceted strategies. Following the Community Conversation, BBC Director Allison Kroner and Bank of America Vice President Humberto Almeida appeared on WCVB's CityLine with Karen Holmes Ward to talk about our partnership to promote a more inclusive and equitable economy through credit building.
Check out the BBC website for a list of upcoming workshops in July, including introduction to credit building and financial coaching workshops.
Partner Spotlight: American Consumer Credit Counseling
American Consumer Credit Counseling, Inc. (ACCC) is one of BBC’s key partners in the work of credit-building across Boston. ACCC is a great referral partner, providing:
Free financial counseling with NFCC certified (and HUD certified, in some cases) counselors on issues related to credit, debt management, bankruptcy, student loans, housing, and budgeting.
Flexible telephone hours (hours vary depending on the type of counseling needed).
Free workshops on topics like credit, banking services, budgeting, youth financial literacy, ID theft, savings, and basic money management.
Bonus: ACCC staff can bring these to your organization or community group! They've conducted workshops for many diverse audiences, including shelters, schools, Boys and Girls clubs, churches, hospitals, banks, veterans' groups, and senior centers, among others.
ACCC is always looking for new partners. To learn more about their services or to receive free financial counseling, call (800) 769-3571 or click here. To talk about partnering on an ACCC workshop, email Peter Mullen here.
The Power of Youth Credit Building
With funding from Citi Community Development, Northeastern University’s Alicia Sasser Modestino, in partnership with the Mayor’s Office of Financial Empowerment and Working Credit NFP, released An Evaluation of the Boston Youth Credit Building Initiative, a rigorous study that compared the outcomes of program participants to those of a control group. The evaluation found that:
Within the first six months of the program, the share of participants with no credit score dropped 11 percentage points relative to a four percentage-point drop for the control group;
Within 18 months, the credit scores of participants who actively complied with the program were 37 points higher than those of the control group;
On average, program compliers were able to increase their available credit by $2,881 compared to the control group.
How Equity Leads to Progress
See the United Way's most recent blog post, Moving People Forward: How Equity Leads to Progress, to learn more about how Boston Builds Credit is building a movement to support equity and inclusion and creating innovating strategies to address the racial wealth gap here in Boston.
BUILD WITH US:
Interested in building your credit score, or know someone who is? Click here to start today.
Are you a nonprofit looking to build capacity in your financial empowerment programs or provide referrals? Click here to partner with us.
Are you a donor searching for innovative solutions to fund? Click here to donate to Boston Builds Credit.
Are you an employer wanting to help your employees develop their credit? Click here to learn more about providing credit as a workplace benefit.
We love promoting our partners' services, upcoming events, and success stories. Email Allison if you would like to be featured on our website or have your successes and services highlighted in our newsletter!