Microfinance Focus, August 13, 2011: Citi Community Development in collaboration with 11 community development organizations in Chicago has launched a new initiative Chicago Credit Building Coalition (CCBC) offering innovative, credit-building financial products along with financial education and coaching to low and moderate income residents in Chicago.

CCBC aims to expand financial inclusion in the region by complementing existing financial education programs with a financial tool, provided by Citi that supports credit-building. The community development organizations Justine PETERSEN and Credit Builders Alliance will provide the CCBC members with assistance and tools to increase their capacity to provide these services and to monitor the impact that financial coaching on individuals’ credit profiles.

The Chicago Credit Building Coalition members represent communities from across the city. The group includes Chicago Urban League; Citi Community Development; Illinois Hispanic Chamber of Commerce; JVS Chicago; Local Initiatives Support Corporation of Chicago; Mercy Housing Lakefront; National Latino Education Institute; Neighborhood Housing Services; Partners in Community Building; The Resurrection Project; South Side Community Federal Credit Union; and Spanish Coalition for Housing.