How we are helping
We're partnering with HomeFree-USA - a non-profit dedicated to helping People of Colour achieve homeownership - to create a path to homeownership through financial education.
Tackling declining homeownership
· Homeownership in the USA is at its lowest rate since 1970.
Black and Hispanic people are struggling most to get on the US property ladder, with limited or no credit histories making it difficult to access affordable credit.
We’re partnering with HomeFree-USA to tackle these challenges through financial education.
Together, we developed a six-month Credit Academy as part of HomeFree-USA’s Center for Financial Advancement® (CFA) for students from historically Black colleges and universities. The students learn about finance, credit and leadership from Experian experts.
Empowering student ambassadors
The CFA Credit Academy alumni are putting what they learned into practice in their communities, renting apartments for the first time, and helping family and friends establish and build their credit identities.
An ‘If You Know You Know’ (#IYKYK) hackathon or pitch competition at the end of the course challenges participants to create an inclusive credit education programme. It’s already inspired innovative app concepts to help students and their families learn about credit and build generational wealth.
· 200+ students from 15 historically Black colleges and universities completed the Credit Academy in its first year
AWARD: Experian won HomeFree-USA’s Trailblazer Award and CFA Partner of the Year Award in 2023 for our efforts to improve the financial know-how and life opportunities of young Black people.
Watch a video to hear from participants in the CFA.