City Treasurer Neely Launches New Office of Financial Inclusion

City Treasurer Stephanie Neely welcomed community based organizations and other stakeholders from across Chicago to Instituto Del Progreso Latino in Little Village today to announce the formation of the Office of Financial Inclusion (OFI).

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She was also joined by Robert Annibale, Global Director of Citi Community Development, to announce an innovation grant to support the new Office and its signature initiative focused on credit building and financial coaching.

The mission of OFI is to ensure that all Chicagoans, regardless of age, are on a path to the financial mainstream and a strong financial identity. At the core of a strong financial identity is your credit report and credit score and more than 700,000 Chicagoans suffer the costly consequences of having poor or no credit.

“Your credit score is the foundation of your financial identity,” said Neely. “A good credit score will save the average consumer $250,000 over the course of a lifetime.”

To advance its mission, the Office of Financial Inclusion is developing a comprehensive approach to helping Chicagoans improve their finances:

  • Starting early through expanded youth financial education with Chicago Public School students
  • Incorporate banking and financial skill-building opportunities in Summer Youth Employment programs
  • Providing financial counseling support to City College students as they complete their degree
  • Expanding access to credit building and financial coaching services through non-profit and community based organizations

To learn more about the Office of Financial Inclusion visit www.chicagocitytreasurer.com/ofi or call 312-744-3363

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