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Elected and
Community Leaders Announce Opportunity for Housing Providers
to Help Renters Build Credit
“We are excited to have Esusu bring their financial tools
to Lucas County. One of the largest barriers for people
living in poverty is the lack of accessibility to banking
and financial services, including a mechanism to report
accurate credit scores. Low-income people who dutifully and
punctually pay their rent are being denied a credit history
that can raise them out of poverty,”
Lucas County Commissioner Pete Gerken said. “A common
payment that everyone makes monthly is centered around
housing. In the case of housing, those payments are in the
form of rent. With Esusu Rent, we now have a system that
allows rent payments to be counted toward their credit
score, which builds a better path to stable housing and
financial inclusion. The Esusu Rent application is a
significant tool new to our market that can help build
credit for the poor.”
“People with no or low credit scores pay higher interest
rates and have a harder time accessing credit for large
purchases or starting a business, which makes it an uphill
battle to financial stability,” said Val Moffitt, LISC
Director of Financial Opportunities. “That’s why building
credit is such a major focus of LISC’s FOC model.”
Esusu is available for iPhone and Android. Individuals
interested in connecting with an FOC coach to access the
fee-free app can call 2-1-1 to find their nearest Financial
Opportunity Center.
About Esusu
Esusu is a mobile app that helps people create and manage
Rotational Savings Clubs with their friends and family
members. Based on the informal lending circle model and
informed by the cofounders’ personal experiences, the app
aims to connect marginalized communities with opportunities
to save, build credit, and improve financial health. For
more information, visit
https://esusu.org/.
About LISC
Together with residents and partners, LISC forges resilient
and inclusive communities of opportunity across America –
great places to live, work, visit, do business, and raise
families. It combines corporate, government, and
philanthropic resources. Since 1980, LISC has invested $20
billion to build or rehab 400,500 affordable homes and
apartments and develop 66.8 million square feet of retail,
community, and educational space. In Toledo, LISC has
focused on a comprehensive approach to community
development, investing $160 million to fuel economic
opportunity, and build stronger, healthier neighborhoods.
For more information, visit
www.lisc.org.
About United Way of Greater Toledo
United Way of Greater
Toledo envisions a world where all individuals and families
achieve their human potential through quality education,
financial stability, and health resources. By forging
unlikely partnerships, finding new solutions to old
problems, and mobilizing resources – we can inspire our
community to join the fight against our most daunting social
issues. United Way of Greater Toledo is proud to serve the
residents of Lucas, Wood and Ottawa counties by locally
raising more than $9 million a year for those in need.
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