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Experian launched United for Financial Health to empower vulnerable people to improve their financial health through education and action.
COVID-19 presents a serious threat not just to physical health, but to financial health for millions of people around the world. We stepped up to help with the launch of our United for Financial Health programme in 2020.
Through United for Financial Health, we’re using financial education to empower vulnerable communities that have been hit hard by COVID-19 and kickstart their road to recovery. Teaming up with 11 NGOs, and helped by our ‘Living on 4.27’ YouTube channel for 16-25 year olds, we’ve reached 35 million people in less than a year – smashing our first-year target of 15 million.
We’re providing financial education resources, funding, products and volunteers to help our partners reach the communities they have trusted relationships with, in ways that are most meaningful and helpful to these communities.
Our United for Financial Health partnerships are enabling us to reach consumers who don’t have an existing relationship with Experian. Through this innovative model, we can scale up our support to help more people and gain valuable insights for our business to help us create wider social benefits.
In 2020/21, we focused on our three primary consumer markets – the USA, UK & Ireland and Brazil. Many of our partnerships support women, young people and minorities to help tackle inequalities that have been exposed and deepened by COVID-19. We plan to expand the programme to other regions as we work to extend our reach to 100 million people over the next three years.
Armed with opportunity and financial literacy, we believe at Operation HOPE that Experian’s commitment to unlocking the power of data to create opportunity means more people will be set up not just to survive, but to thrive in the months and years to come. Their willingness to lean in and support individuals and families through our work in a time of global crisis demonstrates their sincere commitment to community uplift and outreach.
Operation HOPE Founder, Chairman, and CEO
We’re helping people from ethnic minority groups raise their credit scores and change their mindset from surviving to thriving, reaching over 4.6 million this year. To reinforce the partnership, Experian North America’s Chief Executive Officer joined the HOPE Global Board of Advisors in April 2021.
Our funding has helped the National Association for the Advancement of Colored People (NAACP) launch an education campaign to support black home ownership that’s reached 10.4 million people, as well as offering home preservation grants to clear mortgage arrears for 21 African American families in Atlanta who were struggling to keep up with payments due to COVID-19 hardship.
Black Girl Ventures
We’ve reached over 8.6 million people with financial education resources, tools and services designed to help black and brown women entrepreneurs – and their small businesses – to grow and prosper.
As part of its mission to encourage people from low-income backgrounds to make a habit of saving, SaverLife has used our financial education resources to create a series of tailored content offering guidance on strengthening credit profiles, reaching 384,000 people. In the first two months, it was the most visited feature on the platform and over half of visitors consumed all five articles and quizzes.
United Ways of California
We’re working with the United Ways of California to add a new service to its 2-1-1 information line to connect people in low-income and diverse communities to the support they need to help tackle toxic stress. All they need to do is text the word ‘stress’ to 2-1-1. A campaign to raise awareness of the service has already reached 1.6 million people.
UK & Ireland:
Half of working adults in the UK have low numeracy skills. We supported National Numeracy’s Number Confidence Week and other resources to help people improve their confidence with numbers and empower them to manage money better too. Together, we’ve reached 168,000 people so far.
National Literacy Trust
We supported the Words that Count campaign launched in January 2021 to tackle the link between poor reading skills and low financial competence through videos and interactive sessions for young people, reaching almost 3.5 million people.
The Mix is the UK’s leading digital support service for under-25s. We’re the lead supporter of its new online Money Hub, which aims to reach out to more men and ethnic minorities with financial education. Together, we’ve reached over 660,000 people so far.
The Big Issue
We’re supporting the Financial Futures for All project to provide financial education through The Big Issue’s magazine and online publications, and support the development of an e-wallet to help vendors take cashless payments and build a financial history. We’ve already helped to reach over 500,000 people.
The Trussell Trust
We supported The Trussell Trust’s Hunger Free Future campaign in late 2020, which encouraged over 140,000 people to sign up to support its foodbanks and their users, and we’re working together to offer access to financial education through food banks.
We began working with Sebrae in March 2021 to help small businesses recover from the economic shock of COVID-19 through an online financial education platform and mentoring from Experian volunteers. In the first week alone, we reached over 1.5 million people.
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