Inclusiv Launches FIT Center to Help Member Credit Unions Access Affordable Technology Solutions That Expand Financial Inclusion
Inclusiv announced the creation of the Financial Inclusion Technology (FIT) Center to expand financial inclusion in member credit union communities. The FIT Center will provide information about, and access to, technology solutions designed to meaningfully, measurably, and sustainably increase access to safe and affordable financial services in low-income communities and communities of color. The Inclusiv FIT Center will house several targeted initiatives to fulfill this mandate, including the Inclusiv FIT Council, fintech and research partnerships, and Inclusiv’s data analytics work. Formerly known as the Inclusiv Innovation Council, the Inclusiv FIT Council brings together technologists and innovators from our member credit unions who work to identify, evaluate, and promote innovative products and services that enable Community Development Credit Unions (CDCUs) to increase financial inclusion in underserved communities. Quarterly FIT Council meetings foster a collaborative environment to analyze emerging tech trends. Additionally, FIT Council members also help Inclusiv to evaluate new technology products and services throughout the year. The Inclusiv FIT Center is also seeking to partner with mission-aligned financial services technology, data analytics, and alternative credit data providers to make proven innovative technological solutions accessible and affordable to CDCUs. Inclusiv partners can tap into the collective experience and expertise of the Inclusiv team and our member network of 500 CDCUs. In addition, Inclusiv offers mission-aligned organizations the opportunity to support our technology and innovation work and reach our network of CDCUs through sponsorship of the FIT Center. In partnership with mission-aligned fintechs and research organizations, the Inclusiv FIT Center tests the impact of emerging innovative technological solutions. These pilot projects, such as our Building Emergency Savings initiative in with Common Cents Lab at Duke University and VisiFI, aim to demonstrate how the practical application of emerging technology can increase financial inclusion and improve the financial health of low and moderate income individuals.