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Inclusion

Alliance for Economic Inclusion

Last Updated: March 8, 2022

The Alliance for Economic Inclusion (AEIs) are coalitions of local financial institutions and consumer, faith-based, community, and government organizations. AEI members help promote the widespread availability and use of safe, affordable, and sustainable financial products from insured depository institutions that help people achieve financial stability and build wealth. AEIs seek to promote economic inclusion by providing a connection to the mainstream financial system that supports economic opportunity, particularly for low- and moderate-income households and communities and small businesses.

Alabama AEI

The Alabama AEI is statewide, with a focus on the 21 counties that make up the Alabama Black Belt. The Alabama Asset Building Coalition (AABC) chairs this AEI initiative, and partners include financial institutions, federal, state, and local government entities; and community organizations. The AEI facilitates broad-based coalitions throughout the state to bring unbanked populations into the financial mainstream.

The Alabama AEI provides valuable financial education programs and resources. It encourages access to basic retail financial services, including affordable and safe deposit products, children’s savings accounts, and small dollar loan programs. The AEI aims to advance and strengthen the financial capability of households, encourage insured financial institutions to meet the financial needs of emerging micro-entrepreneurs and small businesses, and support community development through affordable and responsible mortgage loan products.

Contact:
Taurie Grant
Community Affairs Specialist
Atlanta Region
(678) 916-2301
Tgrant@fdic.gov

Austin AEI

The Austin AEI engages representatives of more than 200 financial institutions and community, small business support, and faith-based organizations; state and local government agencies; community stakeholders; and federal bank regulators. The Austin AEI covers the Austin-Round Rock-San Marcos Metropolitan Statistical Area (MSA) and the principal cites of Austin, Round Rock, Georgetown, Leander, Jollyville, Bastrop, Pflugerville, Del Valle, Garfield, Jonestown, Lago Vista, Lakeway, Manchaca, Manor, Rollingwood, and West Lake Hills.

The Austin AEI seeks to improve the financial capability of communities and consumers, especially those of low- and moderate-income, and move them into the financial mainstream. The AEI model encourages development of basic, competitively priced financial products and services, including checking and savings accounts, remittance products, and small dollar loans, and provides targeted financial education, technical assistance, and other asset-building programs.

The Austin AEI has three standing committees:

  • Account Access
  • Financial Education
  • Communication/Membership

It has three working groups:

  • Small Business
  • Affordable Housing
  • Credit Building

An Advisory Council plans the quarterly meetings and supports the work of the Committees and other initiatives. Working Groups take on particular projects, such as:

  • Small Business Forums
  • Affordable Housing Forums
  • Credit Building Workshops

Members can get involved with the AEI by attending a quarterly meeting or volunteering to serve on committee.

Contact:
Linda Gabriel
Community Affairs Specialist
Dallas Region
(972) 989-9807
Lgabriel@fdic.gov

Boston AEI

The Boston AEI covers the majority of the Boston-Cambridge-Newton, MA-NH Metropolitan Statistical Area (MSA). The AEI works to enhance the economic well-being of the unbanked and underbanked in metropolitan Boston by improving their access to the mainstream banking system, promoting financial education, and addressing technical or regulatory issues surrounding these developments.

Members represent financial institutions, community organizations, and government at all levels. Membership is open to all who share the FDIC’s interest in economic inclusion.

The Boston AEI informs and educates its members about the business opportunities represented by improved access to mainstream financial services by unbanked and underbanked individuals and families. The AEI identifies and solves issues and obstacles associated with new product or service development. It also encourages a continuing commitment by leaders in all sectors to take positive action in response to these opportunities.

The Boston AEI Open Work Group meets regularly to discuss issues of interest and identify responses. Periodic informational forums feature guest speakers addressing issues of common interest, and updates about ongoing activities.

Contact:
Anna Cheong
Community Affairs Specialist
New York Region
(857) 328-2915
acheong@fdic.gov

Houston AEI

The Houston AEI is comprised of partners representing over 250 financial institutions, community organizations, small businesses, faith-based organizations, state and local government agencies, community stakeholders, and federal bank regulators from several markets across the Greater Houston Metropolitan Statistical Area (MSA). The Greater Houston MSA consists of ten counties and eight principal cities: Houston, Pasadena, League City, Sugarland, The Woodlands, Baytown, Galveston, and Conroe.

This broad-based coalition focuses on bringing the unbanked and underserved population into the financial mainstream by delivering quality financial education programs, financial products, and financial services. The AEI works to expand access to banking services for underserved markets, including affordable remittance products, targeted financial education programs, affordable small-dollar loan programs, and other asset-building programs.

An Advisory Council guides AEI activities. The AEI has three standing committees:

  • Small Business and Access
  • Financial Education
  • Communication/Membership

AEI-sponsored working groups focus on specific challenges, such as financial products and education needs in affordable housing, financial education, and affordable and safe deposit accounts. Other initiatives include Bank On Houston, Houston Money Week, and United Way THRIVE. Houston AEI also supports Bank On Houston’s efforts to educate consumers on safe and insured deposit accounts and savings and credit information. Members can get involved with the AEI by attending a quarterly meeting or volunteering to serve on committee.

Contact:
John Gonzalez
Community Affairs Specialist
Dallas Region
(972) 761-8322
johngonzalez@fdic.gov

Kansas City AEI

The Kansas City Alliance for Economic Inclusion (KC AEI) is an FDIC initiative designed to serve the Kansas City Metropolitan Area and surrounding areas throughout the states of Kansas and Missouri. The KC AEI the consists of a broad base of participating individuals representing financial institutions, Community Development Financial Institutions (CDFIs), Community Development Entities, community-based organizations, schools, and other partners.

The KC AEI focuses on bringing unbanked and underserved populations into the financial mainstream with an emphasis on creating financial resiliency for low- and moderate-income families in Kansas (including the Kansas City Metropolitan Area). In addition, the KC AEI seeks to expand and create programs for affordable housing, small business, targeted financial education, and other community development initiatives.

To further achieve AEI goals of helping the low- and moderate-income community, Kansas City AEI is working to increase banking services for minority and immigrant communities. The KC AEI has initiated several working groups including but not limited to: Account Access, Financial Education, and Hispanic Economic Inclusion.

The KC AEI aims to convene bi-annual conferences that highlight Economic Inclusion topics while leveraging collaborations with KC AEI members to create new partnerships, new programs, and/or support existing programs. Participation in the KC AEI is open to banks, credit unions, community-based nonprofits, CDFIs, and government agencies. Participants engage with the KC AEI by attending conferences and through active involvement in the KC AEI Working Groups.

Contact:
Teresa Green
Community Affairs Specialist
Kansas City Region
(816) 234-8084
TeGreen@fdic.gov

Los Angeles AEI

The Los Angeles Alliance for Economic Inclusion (LA AEI) is an FDIC initiative focused primarily in the City of Los Angeles. It is comprised of a broad base of organizations including financial institutions, community-based nonprofit organizations, Community Development Financial Institutions (CDFIs), and government agencies. The LA AEI fosters economic inclusion among lower-income households and communities, and small and micro businesses. The LA AEI has over 100 participating organizations.

The LA AEI’s work happens through the efforts of three Working Groups:

  • Financial Capacity,
  • Credit Building & Homeownership, and
  • Small Business.

The LA AEI Working Groups’ initiatives include:

  • The Los Angeles Saves campaign, an affiliate of the national America Saves campaign,
  • Fostering bank volunteers to support the Volunteer Income Tax Assistance (VITA) program,
  • Delivering, in conjunction with community-based organizations, Credit Builder Workshops to teach the importance of credit for financial stability and asset building, and
  • Delivering Money Smart workshops focused on savings, financial disaster recovery, homeownership, and small businesses.

The AEI holds tri-annual convenings. It also hosts workshops for bank lending officers to enhance small business access to capital and to increase community development lending by leveraging the programs and services provided by technical assistance providers, Community Development Financial Institutions (CDFIs), and government agencies.

Participation in the LA AEI is open to banks, credit unions, community-based nonprofits, CDFIs, and government agencies. Participants engage with the LA AEI by attending the tri-annual meetings and through active involvement in the LA AEI Working Groups.

Contact:
Mary Salinas Durón
Senior Community Affairs Specialist
San Francisco Region
(323) 545-9260 x 4246
mduron@fdic.gov

Louisiana AEI

The Louisiana AEI is a statewide coalition focused on improving access to the mainstream banking system for low- and moderate-income households and communities, including the unbanked and underbanked. Membership is open to financial institutions, community organizations, small business support organizations, faith-based organizations, local and state governments, community stakeholders and federal bank regulators.

The coalition is comprised of three committees/working groups: Financial Education and Access, Affordable Housing (Rural and Urban) and Small Business. Members can get involved with the AEI by attending a quarterly meeting or volunteering to serve on a committee/work group.

Contact:
Tepricka Morgan
Community Affairs Specialist
Dallas Region
(318) 218-6798
Temorgan@fdic.gov

Southeast Michigan AEI

The Southeast Michigan Alliance for Economic Inclusion (SEM AEI) serves Wayne, Washtenaw, Oakland, and Macomb Counties. The SEM AEI supports financial well-being and empowerment by promoting access to safe, affordable financial products from insured depository institutions, and by bringing unbanked and underbanked populations into the financial mainstream.

The SEM AEI coalition brings more than 90 organizations together, including financial institutions, non-profits, community organizations, local and state government agencies, universities, and other key community stakeholders to improve economic inclusion while focusing on ways to increase awareness, access, and use of retail financial products.

Meetings focus on increasing access to mainstream financial products and services, building responsible credit, and expanding financial education programs. During the past few years, the AEI supported the Bank On Detroit launch, account access for youth and young workers, and access to affordable mortgages and homeownership while supporting the programs and concerns of its membership.

Through participation, members are able to build stronger networks, connect with professional development opportunities, and build deeper connections throughout Southeast Michigan.

Contact:
Eric Louden
Community Affairs Specialist
Chicago Region
(734) 462-2484 x 8520
erilouden@fdic.gov

Milwaukee AEI

The Milwaukee Alliance for Economic Inclusion (AEI) attracts leaders from financial institutions, consumer and community organizations, and government entities. The Alliance works together to promote the widespread availability and use of secure and affordable financial products from insured depository institutions. The Milwaukee AEI connects members to programs in the Greater Milwaukee area focusing on financial stability and wealth building in low- and moderate-income communities.

With more than 100 members, quarterly meetings focus on local concerns, trends, and the ever-growing variety of community development solutions. Meetings invite local and national speakers to discuss strategies to improve inclusion. Members invest in professional development and products serving Milwaukee’s under-resourced populations. Milwaukee’s AEI members keep a keen watch on the availability of basic and low-cost checking and savings accounts, credit builder products and the financial education needs of non-English speakers, returning citizens, young adults and people with disabilities. In the past few years, the AEI has successfully partnered with Bank On Greater Milwaukee and developed a city-wide financial counselor network focused on improving financial health and reducing barriers people without credit or bank accounts face every day.

Contact:
Carol N. Maria
Community Affairs Specialist
Chicago Region
(262) 879-0831 x 4311
cmaria@fdic.gov

Mississippi AEI

The Mississippi AEI aims to improve the economic well-being of low- and moderate-income households and communities, including the unbanked and underserved. The AEI works to improve access to the Mississippi banking system and bring the unbanked and underserved into the financial mainstream through innovative low-cost products and services and expanded financial education efforts.

The AEI launched in 2007 to serve the Gulf Coast (Hancock, Harrison, and Jackson Counties) following Hurricanes Katrina and Rita; however, it was later expanded to include the Delta Region. It was determined that this group could bring the Coastal area and the Delta together for a common cause. The Coast was known for tourism and the Delta had limited industries, scarce tourism and generational poverty. The geographic area of the Mississippi Gulf Coast AEI encompasses the Gulfport-Biloxi Pascagoula, Hattiesburg, and Jackson MSAs, and the counties of Bolivar, Carroll, Coahoma, Desoto, Forrest, George, Greene, Hancock, Harrison, Hinds, Holmes, Humphreys, Issaquena, Jackson, Lamar, Leflore, Marion, Panola, Pearl River, Perry, Pike, Quitman, Sharkey, Stone, Sunflower, Tallahatchie, Tunica, Walthall, Warren, Washington, and Yazoo.

The AEI conducts its work through three subcommittees: Asset Building & Financial Education/Unbanked & Underbanked Committee; Affordable Housing Urban & Rural Foreclosure Prevention Committee; and Small Business Development Committee. Members can get involved with the AEI by attending the periodic meetings or volunteering to serve on the subcommittees.

Contact:
Truvander Kennedy
Community Affairs Specialist
Dallas Region
(601) 992-5207 x 6630
Trkennedy@fdic.gov

West Virginia AEI

The West Virginia Alliance for Economic Inclusion (AEI) started in 2012 with collaboration with multiple stakeholders to build a coalition of small and micro business service providers and encourage partnership opportunities between banks, CDFIs, and community-based organizations for community development. The AEI seeks to build financial capacity among small businesses and consumers by delivering financial education, promoting relationships to increase access to safe and affordable capital and credit, and exploring innovative programs, products, and financial services.

The region has been impacted by natural disaster as well as economic variations. In response to the economic conditions and recovery needs, the FDIC is collaborating with stakeholders across the state to assess community development challenges and opportunities. The FDIC hosts events to engage AEI steering members and stakeholders to develop strategies and partnership opportunities to meet the changing needs of the region. The AEI will continue to expand its networks with stakeholders who promote financial capacity, sustainable and livable communities, and access to safe and affordable capital and credit products and services.

Contact:
Victor Galloway
Community Affairs Specialist
Atlanta Region
(919) 787-8727 x 4915
Vgalloway@fdic.gov