"The single most important means
for our CDFI to graduate micro-entrepreneurs and homebuyers into the
formal banking system would be to develop meaningful client credit
histories. This service provided by Credit Builders Alliance will truly
allow us to achieve our larger objective of long-term impact on the
financial well-being of our clients."
-- Robert Vickers, Latino Economic Development Corporation
Access to financial services nationwide – as
well as employment and housing - is increasingly determined by an
individual’s credit history and credit score, as defined by the major
credit bureaus. By far the best and quickest way to improve a poor or
non-existent credit history —and help low-income, unbanked and
underserved families get access to safe, affordable, mainstream lending
products — is to show a positive recent payment history on open
accounts. However, most community lenders in the U.S. are not or cannot
report their clients’ credit behavior to the major credit bureaus.
Credit Builders Alliance was incorporated in 2006 as a non-profit
organization to help community lenders – – including CDFIs,
microenterprise and housing development organizations, asset building
organizations and community credit unions - report loan repayment data
to the major credit bureaus.
In May 2006, CBA launched our CBA Reporter service which lets community lenders report their data to Experian.
We also know most community lenders would like better solutions for
pulling credit reports – for underwriting, for credit counseling, and
for measuring community impact. CBA is working to develop a bulk rate
service and other packages to help you strengthen your services with
respect to credit building and the credit industry.
If you are a community lender, we invite you to complete the Join Us!
survey and tell us about your credit needs. We can then provide you a
free CBA Reporter needs assessment to get you on your way.
Learn more >>
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