ATLANTA–The National Federation of Community Development Credit Unions and Equifax have partnered to open the On the Rise Financial Capability Center in this city’s historic Westside communities.
The Center will provide Atlanta's historic Westside communities with affordable banking, alternatives to payday loans, affordable home mortgages, and a suite of financial services designed to empower residents to achieve their financial goals, according to the Federation.
The Center is a flagship for the Pathways to Financial Empowerment program, a Federation program designed to strengthen and expand the provision of financial counseling in the credit union field, integrate counseling with financial products, and track and demonstrate impact, the Federation said.
"The much-needed financial resources and education On the Rise Financial Center provides will allow residents to participate and benefit from Westside Atlanta's revitalization," said Cathie Mahon, president and CEO of the Federation. "We are grateful for the community collaboration with local community development credit unions and Equifax to create the Center and offer residents of the Westside a powerful financial education platform and complimentary credit union tools which will help them seize a stronger financial future."
For the past two years, the Equifax Foundation and Community Affairs staff, in concert with The Arthur M. Blank Family Foundation and other key partners, has been on the ground in the Westside developing a long-term strategy focused on improving the financial futures of the families in the community. Invest Atlanta, the City of Atlanta's economic development agency, has awarded a Westside Tax Allocation District Community Improvement Fund grant to provide equipment and furnishings for the Center.
"One of the best ways to strengthen communities and enable access to credit is by ensuring residents have the means and educational resources to make sound financial decisions to prepare for key milestones in life," said Dann Adams, president of Global Consumer Solutions at Equifax. "For this project, Equifax has been a committed partner in providing access to affordable financial products to help Westside residents achieve their goals."
The Center recently began holding group financial education classes, providing one-on-one financial counseling and coaching, education for home ownership, and access to financial products and services. 1st Choice Credit Union, BOND Community Credit Union, Credit Union of Atlanta, and Peach State Federal Credit Union will help staff these educational activities and provide additional support with financial products and services, the Federation said.