TransUnion Announces Partnership with HomeFree-USA to Help Close Racial Homeownership Gap
Partnership will provide credit education tool to HomeFree-USA customers, primarily first time homebuyers of color
CHICAGO, Dec. 13, 2021 (GLOBE NEWSWIRE) — As racial disparities in homeownership reach their highest levels in nearly 50 years, today TransUnion (NYSE: TRU) announced a partnership with HomeFree-USA, a leading nonprofit homeownership development and financial empowerment organization. TransUnion is supporting HomeFree-USA in guiding more Black Americans to achieve and sustain homeownership by providing the CreditView Dashboard®, a credit education tool, free of charge as part of HomeFree’s credit counseling and education program.
“At TransUnion, we’re committed to fostering a more inclusive financial system where everyone can achieve their goals,” said Chris Cartwright, president and CEO, TransUnion. “Credit is a fundamental prerequisite to homeownership, and it’s important that we continue providing communities of color with the tools needed to build credit and become successful homeowners.”
Founded in 1994, HomeFree-USA advances financial education, diverse talent recruitment, business partnerships and homeownership for nearly 6.3 million consumers. The organization advises homebuyers and homeowners on homeownership, financial wellbeing and wealth building through its national network of over 50 nonprofit partners.
As part of a shared commitment to financial inclusion, TransUnion’s engagement contributes to HomeFree-USA’s efforts to support Black American homebuyers in building credit. Data from the U.S. Census Bureau shows that Black Americans have the lowest national homeownership rate (47%), compared to white (76%) and Hispanic Americans (51.4%). Credit is a critical stepping stone to homeownership, and TransUnion’s CreditView Dashboard provides consumers with on-demand access to education and guidance to reach their goals.
“Homeownership remains a key way for Black families to build wealth and achieve financial success,” said Marcia Griffin, founder and president, HomeFree-USA. “With the addition of the CreditView Dashboard to our credit counseling programs, TransUnion is further empowering first time homebuyers of color to attain viable homeownership.”
The partnership also supports the organization’s engagement with Historically Black Colleges and Universities (HBCUs). HomeFree-USA provides financial education to students and faculty at seven schools through the Center for Financial Advancement® – a program geared at preparing an inclusive pipeline of Gen Zs for leadership in the financial services industry and future homeownership.
TransUnion’s contributions to HomeFree-USA are part of a series of actions to support the company’s commitment to expand financial access for people across the world. Other recent actions include an expanded partnership with Credit Builders Alliance to provide targeted loans to assist underrepresented populations in building credit history, and efforts to include more alternative financial data in the consumer reporting ecosystem.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good®.
A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.
http://www.transunion.com/business
About HomeFree-USA
HomeFree-USA is a nonprofit started by Marcia and Jim Griffin in 1994 with a vision to close the homeownership gap. The organization gives African Americans the guidance they need to achieve and sustain homeownership, and bridges the gap between financial strength and homeownership for people of color across America.
As a HUD-intermediary, HomeFree-USA serves the diverse interests of 6.3 million consumers through its nationwide network of over 50 affiliated community-based nonprofits that specialize in guiding people to first-time homeownership, sustainability and increased financial capacity.
For more information visit: https://homefreeusa.org/.
| Contact | Dave Blumberg TransUnion |
| E-mail | [email protected] |
| Telephone | 312-972-6646 |
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