The NCFO has three areas of programmatic focus:
Financial Resiliency (increasing basic financial capabilities)
Financial Accessibility (financial inclusion)
Income Adequacy (path to economic mobility)
Dramatically increasing equitable economic mobility and opportunity across the nation.
Three Programatic Areas of Focus
Increasing Basic Financial Capabilities
More than Financial Inclusion
Path to Economic Mobility
Increasing Equitable Access to Opportunity
Transitioning to permanent disability destabilizes households. A CDFI refinanced a family's loans to reduce monthly payments from $1,024 to $513. This is financial accessibility and financial resilience in action. Stable households are critical to eliminating toxic stress which keeps people living in poverty.
A lost job during the pandemic (or anytime) puts transportation to work at risk. A CDFI refinanced a vehicle from 18% APR to 4.99%, paused and extended payments ultimately keeping $175 a month in the house and retaining the critical transportation. Community partners helped placement in a higher-paying job. Every programmatic area supports to economic mobility.
Opportunity Initiative Summits open doors to the collaboration of CDFIs and Nonprofits increasing impacts and reducing strain on nonprofits. One community healthcare center colocated a CDFI to ensure clients could regain lost funds to afford prescriptions. Equitable financial access supports equitable access to healtchare. Both are critical to economic mobility.