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MACED Receives Innovation Award

CFSI congratulates the Mountain Association for Community Economic Development (MACED), CFSI grantee, for winning the University of Kentucky’s Nonprofit Leadership Initiative’s 2008 Innovative Nonprofit Award for their Common Cents Financial Initiative (CCFI). CCFI provides an employer-based payday loan alternative to residents of ...

Posted: December 2008

TIO Networks Gains Nomination for Award

TIO Networks, a CFSI investee, was one of the 14 finalists in Citi-Ashoka’s Changemakers Competition: Banking on Social Change—Seeking Financial Solutions for All. In this competition Ashoka and Citi, “partnered in a worldwide search for financial services projects that use the transformative ...

Posted: December 2008

Insurance and Asset-Building for the Underbanked: A Convening Summary

by Amy Brown

In August 2008, CFSI, the Federal Reserve Bank of Chicago, and the Annie E. Casey Foundation co-sponsored an insurance convening summary.  This summary outlines issues, research, and innovations around serving the insurance needs of underbanked consumers and offers next steps in reaching ...

7 pp.   
Posted: September 2008

CFSI Announces Nonprofit Opportunities Fund Grant Awards

The Center for Financial Services Innovation (CFSI) announced today, at the Underbanked Financial Services Forum, the grantees of its 2008 Nonprofit Opportunities Fund.  The fund was created by a $2 million grant from the Wal-Mart Foundation.  CFSI selected the following four innovative ...

Posted: June 10, 2008

CFSI Releases the Initial Findings of their Segmentation Study of the Underbanked

Center for Financial Services Innovation (CFSI) has released the initial findings of its groundbreaking national segmentation study of the underbanked market at the 3rd Annual Underbanked Financial Services Forum, continuing through Tuesday, June 10th, in Miami. The CFSI Underbanked Consumer Study defines ...

Posted: June 2008

CFSI Underbanked Consumer Study Identifies Eight Underbanked Consumer Types

The Center for Financial Services Innovation (CFSI) has released the initial findings of its groundbreaking national segmentation study of the underbanked market at the 3rd Annual Underbanked Financial Services Forum, continuing through Tuesday, June 10th, in Miami.  The CFSI Underbanked Consumer Study ...

Posted: June 9, 2008

CFSI Announces Latest Investees Under Its “Catalyst Fund”

The Center for Financial Services Innovation (CFSI) announced today two new investments under its Catalyst Fund L.P.: iSend and Progress Financial.

These newest investments reaffirm CFSI’s commitment of focusing on innovative growth stage organizations serving the underbanked. In addition to ...

Posted: May 28, 2008

CFSI Announces Grant Opportunities for Nonprofit Organizations

The Center for Financial Services Innovation announced a $250,000 grant award to Credit Builders Alliance (CBA). This award, together with the release of a request for proposals for the CFSI’s new Nonprofit Opportunities Fund last week, marks a significant financial development in ...

Posted: February 12, 2008

Jennifer Tescher named among the new members of the Federal Reserve Board’s Consumer Advisory Council

The Federal Reserve Board announced yesterday the newest members to its Consumer Advisory Council, including CFSI Director Jennifer Tescher.

Jennifer joins a group of industry and thought leaders who advise the Board on the exercise of its responsibilities under the Consumer Credit Protection ...
Posted: January 2008