New online resource will help nonprofits integrate high-quality financial products into their service offerings to improve the financial lives of their clients.
CHICAGO--(BUSINESS WIRE)-- The Center for Financial Services Innovation (CFSI) today launched the Financial Capability Institute (FCI) website, Financial-Capability.org. Design and creation of the online resource was generously sponsored by the Citi Foundation.
FCI is an interactive web tool designed to help nonprofits successfully integrate a high-quality financial product into their service offerings, in partnership with a financial services provider, to improve the financial lives of underserved clients. Using FCI's tools, practical guidance, best practices, and useful tips, nonprofits will learn how financial product distribution can help them achieve measurable behavior change and how to implement successfully. Some website features include:
After taking the Self-Assessment, users receive customized feedback and get access to even more targeted tools and resources designed to help them take the right next steps. Users will find tools to improve organizational capacity and mission alignment, learn about underserved consumers, conduct market research, and establish and maintain strong partnerships with financial services providers.
“As the leading authority on financial services for the underserved, CFSI developed this online toolkit to help nonprofit organizations better serve the financial needs of their clients, improve client impacts and achieve their mission,” said Sarah Gordon, Vice President, Advisory Services & Nonprofit Investments.
“Research shows that one of the best ways to help consumers better manage their resources and build financial assets is to pair financial education and coaching with access to financial products that can help them achieve their goals,” said Brandee McHale, Chief Operating Officer of the Citi Foundation. “By supporting the creation of this online resource, the Citi Foundation is furthering CFSI’s ability to connect community-based organizations with the necessary tools to launch effective product distribution programs that can help consumers achieve improved financial outcomes.”
Through Financial-Capability.org, CFSI will support nonprofit organizations in leveraging their trusted relationships with underserved consumers to deliver high-quality financial products to their clients. As more nonprofits integrate a financial capability framework into their efforts, lower-income, underserved consumers will have greater access to the high-quality products and information they need to better manage their money in the short run and be financially prosperous in the long run.
CFSI will be hosting a live demo of the site on November 29 at 1:00 P.M. CST. Find the registration URL here: http://cfsinnovation.com/content/financial-capability-institute-website-demo.
The Center for Financial Services Innovation (CFSI) is the nation's leading authority on financial services for underserved consumers. Through insights gained by producing original research; promoting cross sector collaboration; advising organizations and companies by offering specialized consulting services; shaping public policy; and investing in nonprofit organizations and start-ups, CFSI delivers a deeply interconnected suite of services benefiting underserved consumers. Since 2004, CFSI has worked with leaders and innovators in the business, government and nonprofit sectors to transform the financial services landscape. For more on CFSI, go to www.cfsinnovation.com or follow us on twitter @cfsinnovation.
About the Citi Foundation
The Citi Foundation is committed to the economic empowerment and financial inclusion of low- to moderate-income individuals and families in the communities where we work so that they can improve their standard of living. Globally, the Citi Foundation targets its strategic giving to priority focus areas: Microfinance, Enterprise Development, College Success, and Financial Capability and Asset Building. In the United States, the Citi Foundation also supports Neighborhood Revitalization programs. The Citi Foundation works with its partners in Microfinance, Enterprise Development, and Neighborhood Revitalization to support environmental programs and innovations. Additional information can be found at www.citifoundation.com.
Center for Financial Services Innovation
Cynthia Hunt, 312-881-5813
SVP, External Relations
Source: Center for Financial Services Innovation