CHICAGO—TransUnion is partnering with HomeFree-USA, a nonprofit homeownership development and financial empowerment organization, as part of an effort to help more Black Americans achieve and sustain homeownership.
Under the agreement, TransUnion will provide its CreditView Dashboard, a credit education tool, free of charge as part of HomeFree’s credit counseling and education program.
“At TransUnion, we’re committed to fostering a more inclusive financial system where everyone can achieve their goals,” said Chris Cartwright, president and CEO, TransUnion. “Credit is a fundamental prerequisite to homeownership, and it’s important that we continue providing communities of color with the tools needed to build credit and become successful homeowners.”
Founded in 1994, HomeFree-USA said it advances financial education, diverse talent recruitment, business partnerships and homeownership for nearly 6.3 million consumers. The organization advises homebuyers and homeowners on homeownership, financial wellbeing and wealth building through its national network of over 50 nonprofit partners.
‘Key’ Way to Build Wealth
“As part of a shared commitment to financial inclusion, TransUnion’s engagement contributes to HomeFree-USA’s efforts to support Black American homebuyers in building credit,” TransUnion stated. “Data from the U.S. Census Bureau shows that Black Americans have the lowest national homeownership rate (47%), compared to white (76%) and Hispanic Americans (51.4%). Credit is a critical stepping stone to homeownership, and TransUnion’s CreditView Dashboard provides consumers with on-demand access to education and guidance to reach their goals.”
“Homeownership remains a key way for Black families to build wealth and achieve financial success,” said Marcia Griffin, founder and president, HomeFree-USA. “With the addition of the CreditView Dashboard to our credit counseling programs, TransUnion is further empowering first time homebuyers of color to attain viable homeownership.”