Action Network: Financial Services Network (FSN)
Reach: More than 80,000 households in Central Alabama
Goal: Serve at least 10,000 low-income households by 2025
Primary Metric: Percent of low-income households served by the FSN
Partners: Gateway, Greater Birmingham Habitat for Humanity, Salvation Army — Birmingham Area Command, Neighborhood Housing Services of Birmingham, Jefferson County Committee for Economic Improvement, Birmingham Urban League, United Way of Central Alabama Financial Stability Program
Work to Date:
By collecting and analyzing financial data from individual network providers in a uniform way, the FSN is empowering the network as a whole with valuable insight into the financial habits and needs of local consumers, and thus enabling the network to focus on products and services that can help the most people. This network database will allow us to measure and track financial stability in the community through a variety of indicators, including credit scores, use of banking services, increased savings, debt reduction, household income, home ownership, employment status and use of payday lenders.