This research theme examines the state of the practice of financial education and credit-building services. Recent data is presented on the prevalence of these services in microenterprise organizations across the country. We explore how practitioners see the market for these services and how that market can best be served.

Overview/Introductory Information

Literature Review on Financial Literacy and Credit Building
FIELD's new publication, Financial Literacy and Credit-building Services Among Microenterprise Development Organizations, explores how microenterprise programs are revisiting or expanding their efforts in this realm. This "scan of practice" documents both the current body of work in the field and emerging and promising new directions taken by practitioners.

Progress notes

Building Financial Skills for Business Success
FIELD's in-depth case study of financial education practice within a microenterprise setting, Building Financial Skills for Business Success, looks at DC-based Latino Economic Development Corporation (LEDC) and explores their work in this area.

Resources on Financial Education and Credit Building

ISED (Institute for Social and Economic Development)
The Institute released a financial education curriculum geared towards immigrants and refugees called Picture This: http://www.isedsolutions.org/programs/picture-this. The curriculum is available in both English and Spanish

Credit Builders Alliance
A nonprofit organization that works with non-traditional financial and asset-building institutions to build client credit and financial access in order to grow their businesses and/or personal assets. The CBA Reporter enables nonprofits to report the payment performance of their clients to major credit bureaus. CBA’s Credit Builder Toolkit also allows nonprofits to pull Transunion reports for credit counseling purposes. 

Your Money and You
Microenterprise practitioner ACCION USA has developed a wealth of bilingual (Spanish/English) financial education resources geared towards microentreprenuers. Topics include credit, money management, small business tips, taxes and insurance, and others.

FIELD Funder Guide, Microenterprise Programs as Credit Builders
Explores the new roles that microenterprise programs are taking on to build the credit of entrepreneurs. Co-authored with the Credit Builders Alliance, the guide explores key challenges in building credit, describes new products being offered by microenterprise programs and identifies opportunities for funders.

From Financial Education to Financial Capability: Opportunities for Innovation
This 2010 research paper, authored by the Center for Financial Services Innovation (CFSI), discusses the shift towards financial capability within the financial literacy and education arena. The paper highlights innovative programming among both for-profit and nonprofit actors.

The Office of the Comptroller of the Currency’s (OCC) Financial Literacy Directory
This directory from the OCC’s Office of Financial Literacy provides a wealth of information on financial literacy resources, issues, and events that are important to bankers, organizations and consumers of all ages. The directory includes descriptions and contact information for a sampling of organizations that have undertaken financial literacy initiatives as a primary mission, government programs, fact sheets, newsletters, conference materials, publications, and links to Web sites.

Operation HOPE
A national organization focused on financial literacy in low-to-moderate income communities through various campaigns. It also holds an annual global conference for providers around issues of capacity building.

Webinars

“Financial Literacy and Credit-Building in Microenterprise”
Credit scores have come to play an increasingly important role in determining who can access a range of products (including loans, credit cards, rental property, and telephone service) and the prices they pay for them. While microenterprise development organizations (MDOs) have long been active in the personal finance space, many have begun to expand their work in this area to include a focus on credit building. This webinar reviewed findings from the literature review and case study of the Latino Economic Development Corporation.
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