Resilience is what makes us get up when we fall. It’s why we travel long distances in search of a better life, no matter the perils. When we started Lending Circles, some said: “It won’t work. You’ll fail.” But we kept moving forward. That’s because our program is grounded in what matters most: family, community, and the relationships that bind us with one another.
In the last ten years, we scaled Lending Circles throughout the country, but we also changed the conversation about what matters in people’s financial lives. And we are proof that you can build and scale financial products while still staying rooted in community, true to your mission, and agile in your delivery. It’s how we step up to the plate to protect thousands of Dreamers. And this year, we are stepping up by going mobile.
MyMAF app is not just any app. This one uses the best of finance and technology for the good of the people. This one is about being culturally relevant and bridging the technology gap. More importantly, it’s about showing our clients that they matter – and that’s the secret of our success.
-Jose Quinonez
ADAPTING & RESPONDING
With DACA facing a tenuous future, we knew we had to change course to help community members obtain affirmative relief. We doubled down on our commitment to Dreamers and immigrant communities and launched a zero-interest immigration loan program, covering the cost of becoming a citizen, obtaining a green card, and more.
RAISING OUR VOICES
Amidst an onslaught of anti-immigrant and hateful federal policies, we fought back. While the current administration separated families at the border and proposed outrageous standards to receive a visa or a green card, we advocated for the freedom, dignity, and respect of our communities. And we are only getting started.
UPLIFTING STORIES THAT MUST BE TOLD
We talked to clients and partners across the country. We celebrated their triumphs and shared in their heartbreaks. And we provided a platform for them to tell their stories. As DACA scholarship recipient Rosa put it so beautifully, “The most powerful way to convey my message is to show people who I am.”
FORMING NEW PARTNERSHIPS
We believe in the power of partnership to achieve ambitious goals. We’ve worked with 65+ high-impact organizations to bring Lending Circles to their communities. In 2018, we were thrilled to welcome Canal Alliance of Marin County, CA into our national network of Lending Circles providers. We know we aren’t alone in this fight.
MyMAF gives clients autonomy to direct their financial journey. Clients decide where they want to begin, whether it’s learning about credit or watching a video about exploring their investment options. Clients can choose from 70+ action items to work towards, providing clients with a structure to create their own action plan. The app empowers clients to set the agenda based on what is most relevant to them and supports them with resources, tips, and motivation to get to their goal.
The MAF Lab is the apex of MAF’s strengths as a direct service nonprofit, a financial services provider, a data-driven tech organization, and a force for social innovation.
One Decade of Lending Circles
What better way to mark our 10-year anniversary than to reflect on strengths in the communities we work with? “One Decade of Lending Circles” features ten insights we’ve gained from ten years of social lending.
Celebrating 10 Years
In October 2008, we formed our first Lending Circle. In December 2018, we celebrated MAF’s 10th birthday with style! Hors d’oeuvres, craft cocktails, and 200 of our closest friends and allies.
And we will continue to stand resilient in 2019
If ten years has taught us anything, it’s that we need to keep up the fight. It’s about joining together to build breakthrough innovations that bring about real change to the communities we serve. Communities who are vulnerable to our nation’s broken immigration system need innovations to more easily firm up their status. Communities who are vulnerable to the latest economic scam need better access to low-cost financial products. Communities targeted with a long history of institutional racism need more opportunities to secure and build wealth. Let us not allow Silicon Valley to only provide radical advances for the 1%. Instead, let us join together to learn about the needs of our communities, and put our best thinking and resources forward to bring about real change to the 99%.
More amazing things are happening:
- Get innovative. The most inspired solutions come from embracing the beauty and complexity of the human condition. This April, we’re hosting a 2019 MAF Summit like no other. Join your colleagues in nonprofits, tech, finance and the social sector to cross-pollinate for social change.
- Step it up with a new book. Credit Where It’s Due blends a history lesson on financial justice with an analysis of MAF’s own credit-building models. You’ll get the story of MAF and learn about a new framework: financial citizenship. Who wouldn’t want to participate in a financial system that fosters social belonging, dignity, and respect?
- Follow the MyMAF Challenge. This year, we’ll be opening up a challenge for up to 10 nonprofits across the nation for the chance to win early access to a customized version of MyMAF. Stay tuned for updates about how to participate in or support the challenge.