Dear Friends and Colleagues,
As I celebrate my 20-year anniversary at Neighborhood Trust I remain inspired by Marisol, a colleague from the early days, circa 2003, when we were a nonprofit fully intertwined with Neighborhood Trust Federal Credit Union.
In response to a survey question on our teller line: “Do you bank here because of a particular product and, if so, which one?” almost all had written across the bulleted options: “Marisol”. Of course. Banking isn’t about transactions. It’s about trust. Especially when you are juggling today’s bills and tomorrow’s dreams, vigilant about predatory “deals” and in the context of a legacy of discrimination.
Marisol was a skilled expert who played a vital role in creating our first Financial Coach role, combining hard-nosed financial analysis with empathy, drawing from shared lived experiences. Today, our Financial Coaches continue to uncover the countless ways our financial markets and policies misunderstand, undervalue, or overlook the financial services needs of the 60% of working Americans living paycheck to paycheck, reliant on expensive debt to get by.
In 2022, we advanced our Worker Insights Initiative so that we could amplify workers’ voices and eliminate indebtedness as an essential feature of their lives.
This Annual Report is a celebration of financial coaching reimagined as a force for market disruption. Alongside welcoming diverse employer, credit union, FinTech and worker platform customers into our network, enabling a worker community of tens of thousands, we’ve progressed with the build of an exciting insights and innovation engine that, at its heart, is a tool for enabling each of our Financial Coaches’ personally cultivated insights and ideas to be a part of our pursuit of systems change for freedom from debt.
Thank you to each of you, who serve our clients each day, and help point to the root causes and identify solutions for insurmountable debt in our hardworking clients’ lives.