Financial Health Network
| Formerly | Center for Financial Services Innovation (CFSI), 2004–2019[1] |
|---|---|
| Type | Nonprofit organization |
| Industry | Financial services |
| Founded | 2004 (origins in a 2002 ShoreBank / Ford Foundation research project)[2] |
| Founder | Jennifer Tescher |
| Headquarters | Chicago |
| Key people | Jennifer Tescher (Founder & CEO)[3] |
| Website | finhealthnetwork |
The Financial Health Network is an American nonprofit organization focused on improving financial health, headquartered in Chicago. Founded in 2004 as the Center for Financial Services Innovation (CFSI), it initially worked to expand access to financial services for unbanked and underbanked consumers. The organization later broadened its focus to the wider concept of financial health — defined as a household's ability to spend, save, borrow, and plan in ways that enable financial resilience — and adopted its current name in May 2019.[4] It is known for the Financial Health Pulse, an annual research initiative tracking the financial health of United States households,[5] and for its EMERGE Financial Health conference.[6]
Work
Financial Health Network serves the industry in three primary ways: as an educator, conducting research and disseminating it widely; as a broker, connecting people and organizations within the industry; and as an investor, funding both for-profits and nonprofits.[7] It has partnered with tax preparation firms to help underbanked consumers file their taxes. It regularly provides research grants for financial services researchers.[8][9] It has researched mobile-banking in connection to the underbanked.[10] It is the sponsor of the annual Underbanked Financial Services Forum, the leading event in this industry.[11]
An April 2013 press release indicated that the Center's Financial Capability Innovation Fund II (FCIF II) would be distributing $2.5 million in grants to eight non-profit organizations, with the goal of supporting efforts to "help consumers improve their credit scores, increase their savings, and avoid unnecessary transaction fees."[12]
See also
- ShoreBank
- Political and Economic Research Council—a Chapel Hill, NC-based think tank dealing in the same issue area
References
- ↑ "Center for Financial Services Innovation (CFSI) Changes Name to the Financial Health Network". GlobeNewswire. May 15, 2019.
- ↑ "Center for Financial Services Innovation (CFSI) Changes Name to the Financial Health Network". GlobeNewswire. May 15, 2019.
- ↑ "Center for Financial Services Innovation (CFSI) Changes Name to the Financial Health Network". GlobeNewswire. May 15, 2019.
- ↑ "Center for Financial Services Innovation (CFSI) Changes Name to the Financial Health Network". GlobeNewswire. May 15, 2019.
- ↑ "Despite a strong economy, just 29% of Americans are financially healthy". CNBC Make It. Nov 15, 2019.
- ↑ "First Look: JPMorgan Commits $30 Million to CFSI's New Innovation Lab". American Banker. May 29, 2014.
- ↑ "Why do people use higher-cost alternative financial services? Answers vary | the Daily Gazette". 2 March 2008.
- ↑ "The Center for Financial Services Innovation (CFSI) Nonprofit Opportunities Fund — Social Edge". Archived from the original on 2008-03-25. Retrieved 2008-03-24.
- ↑ "CFSI Announces Grant Opportunities for Nonprofit Organizations | Reuters". Reuters. Retrieved 2017-06-30.
{{cite web}}: CS1 maint: deprecated archival service (link) - ↑ "Payments News: CFSI Releases New Research on Mobile Banking and the Underbanked - April 30, 2007". Archived from the original on 2008-07-18. Retrieved 2008-03-24.
- ↑ "CFSI Releases 'Highlights from the Inaugural Underbanked Financial Services Forum' News - CFSI Releases 'Highlights from the Inaugural Underbanked Financial Services Forum' Industry News". Archived from the original on 2009-01-09. Retrieved 2008-03-24.
- ↑ Candid. "Center for Financial Services Innovation Awards $2.5 Million". Philanthropy News Digest (PND). Retrieved 2024-06-15.
External links
- CFSI website Archived 2008-02-15 at the Wayback Machine