CFSI report reinforces the connection between affordable housing and financial health of the resident.
The industry think tank for underserved financial services, CFSI (Center for Financial Services Innovation), has just published a report prepared specifically for SAHF (Stewards of Affordable Housing for the Future), a non profit organization with members that manage affordable housing representing over 100,000 units. The study shows that more and more affordable rental housing providers are finding that resident financial health is a key component to their future stability. There are a number of programs being offered to assist this segment of the population with financial education, loans to first-time homebuyers, rental support services and matched saving programs. The availability of these programs enable those struggling financially to withstand the highs and lows, leading to a more successful life.
The report supports the essential basis of linking financial health to affordable housing. The use of technology by affordable housing providers can help increase the overall effectiveness of the financial capability programs already in place.
Rezzcard is featured in this report as being the ‘one primary player in the market’ in the prepaid product industry. Rezzcard partners with affordable housing providers to help residents pay their rent thru a myriad of convenient, safe methods. The credit reporting relationship Rezzcard has with Experian is an option to every resident helping them to establish credit as a result of on time rent payments.