Working Credit is being spotlighted on the Community Art Wall located in the lobby of First Bank Chicago. The new exhibit highlights their mission to help people in any financial situation overcome the obstacles to good credit and reap the benefits that come with it.
Working Credit is dedicated to the belief that good credit is the gateway to socio-economic opportunities that enable people and communities to thrive. However, widespread structural barriers often prevent equitable access to credit:
- Credit Invisibility: 28 million Americans qualify as “credit invisible,” and an additional 21 million are “underscored,” meaning their files lack enough information to generate a conventional score.
- Subprime Scores: 57 million Americans have subprime credit scores, limiting their financial mobility.
- Structural Racism: Due to structural racism, residents of majority Black and Hispanic communities are 2 times more likely than their white counterparts to have no credit scores or subprime credit scores. This disparity is a key driver of the racial wealth gap, where white households hold 8 times more total wealth than Black households and 5 times more wealth than Hispanic households.
Working Credit addresses these challenges through personalized programming that combines credit building workshops with intensive, one-on-one counseling. Participants establish and sustain prime credit scores in order to achieve a wide array of goals, including saving money, renting housing, starting small businesses, and purchasing homes.
Data demonstrates that the program not only helps individuals build strong credit profiles, but it can also actively interrupt the effects of structural racism by dramatically improving credit scores in Black and Brown communities, thereby helping to narrow the racial wealth gap.
The Working Credit exhibit is located in the bank lobby and will be open to the public during regular business hours throughout the month of December. For more information about Working Credit or to sign-up for their newsletter, visit https://www.workingcredit.org/ or follow them on LinkedIn and Facebook.
ABOUT FIRST BANK CHICAGO NORTHBROOK COMMUNITY ART WALL
The Community Art Wall was created in 2021 to showcase novice artwork from local non-profit organizations and provide visibility to the various resources and services offered throughout the community. For more information call 847-432-7800 or visit www.firstbankchicago.com.
ABOUT FIRST BANK CHICAGO
The Bank Chicago provides full-service banking solutions for commercial and consumer clients throughout Chicagoland. With over 65 years of banking history, First Bank ranks as one of the five largest privately held banks in Chicago. Our experienced bankers utilize our personal service model to provide customized banking solutions without the bureaucracy of the megabanks. First Bank’s deep culture of caring includes giving time, talent, and resources to all corners of our community. Our bank has been recognized as one of the “Best Places to Work” by Crain’s Chicago Business for 8 consecutive years (2018-2025). In 2024, First Bank was recognized by American Banker as the #1 “Best Bank to Work For”. To learn more about the First Bank Chicago, visit www.firstbankchicago.com
