What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
Giving Compass' Take:
• Lakshmi Iyer and Dashell Laryea share how advancing racial equity can create business value and how organizations are capitalizing on this opportunity.
• How can you work to advance racial equity in your community? Who is already working to advance racial equity in your area?
• Learn how donors can support racial equity.
Historically, financial institutions in the United States have not served people of color effectively or fairly. Even today, people of color have less access to credit, pay higher interest rates for loans, and are less likely to receive venture capital funding as compared to their White counterparts. Serving these markets effectively is not only a moral imperative, but also an economic opportunity to enhance a company’s bottom line.
A follow-up to The Competitive Advantage of Racial Equity, developed in partnership with PolicyLink, this report highlights specific action steps leading companies in the financial sector have taken to create business value by using credit, savings, and investment products to address the unique challenges faced by communities of color. The companies featured in this report—Citi, Oportun, OneUnited Bank, Prudential Financial, and Impact America Fund—have found competitive advantage through their strategies to serve consumers who have historically been excluded.
Read the full article about advancing racial equity by Lakshmi Iyer and Dashell Laryea at FSG.