Access to financial services in America has grown dramatically over the last two decades. Yet our work to improve financial health for all is far from complete. With just 30% of Americans Financially Healthy, it’s clear that improving financial lives across our nation requires a systems-based approach.1 Supported by the Citi Foundation, this new Financial Health Network initiative will galvanize momentum for a new era of innovation in financial services and policy – an era that will fundamentally shift our society to advance financial health for all.
When the Financial Health Network launched in 2004 to help more people access affordable banking, as many as 20% of Americans didn’t have a bank account.2 Thanks to the work of business, policy, and advocacy leaders across our movement, that figure has fallen to an all-time low of 4.5% today.3 But achieving financial inclusion is just one component of a national strategy to advance financial health for all. We must go even further to fix the financial health crisis in the U.S., uniting the visionary leadership of diverse stakeholders to spur innovative and collaborative solutions.
Financial Health Frontiers is a new cross-sector initiative from the Financial Health Network with support from the Citi Foundation. The initiative seeks to ignite the next era of solutions aimed at improving outcomes for the millions of Americans who aren’t financially healthy by focusing on the most vulnerable households – including those with lower incomes and those who are systematically marginalized.
“Developing an agenda for the future of financial health in the U.S. requires input and expertise from a broad range of stakeholders. I look forward to seeing how the insights and recommendations from the Financial Health Frontiers initiative and its Advisory Council will help us collectively advance the field.”
Brandee McHale, Head of Community Investing and Development at Citi and President of the Citi Foundation
The Advisory Council for this initiative brings together visionary leaders across a range of industries, backgrounds, and viewpoints to shape policy and practice in financial health.
Council members will engage with the Financial Health Network and our funding partner, the Citi Foundation, throughout 2024 to develop an agenda that we can all work on together to advance the next generation of financial health for people across America. Stay tuned for opportunities to learn from and engage with these inspiring leaders.