Credit impacts all our lives: it can determine where we live, where we work, what we can buy, and even how much we pay for goods and services. Subprime or no credit, on the other hand, can cost Bostonians more than $238,000 more in fees and interest over a lifetime. 
 
As the first in the nation citywide credit building initiative, Boston Builds Credit approaches credit building as a foundational building block for economic security, mobility, and equity. This initiative was launched in 2017 by a cross-sector collaboration of United Way of Massachusetts Bay, City of Boston Center for Working Families (formerly the Boston Mayor’s Office of Financial Empowerment), and Local Initiatives Support Corporation Boston (LISC Boston).  
 
“Good credit provides access and opens the door to low-cost credit cards, mortgages, car loans, and many of life’s other necessities,” said Juan Bonilla, Senior Vice President for Economic Inclusion at United Way of Massachusetts Bay. “Drawing together partners from all sectors of civic life—including residents, community–based organizations, public officials, businesses, and financial institutions—we’re breaking down barriers, advancing safe and affordable credit building products, and empowering Boston residents to achieve a prime credit score and build income and assets.” 

Since its launch in 2017, Boston Builds Credit and a collaboration of more than 40 organizations has provided services—including Financial Check-Ups, financial coaching, and credit counseling—to 9,000 individuals. Among these, 2,000 individuals have improved their credit by 30 points and/or achieved a prime credit score of 660 or more. Additionally, almost 800 individuals who were unscored at enrollment have become scored, with an average credit score of 673. Financial Check-Ups, a core component of BBC, has expanded significantly, with a 150% increase from 2022 to 2023, reaching a goal of 2,500 clients in 2024. 

To expand this work and reach even more people, United Way launched a community-driven process last year to transition program management responsibilities to a new lead partner. Continuing its longstanding partnership with United Way, nonprofit organizations, financial institutions, government agencies, and community members, Working Credit has been elevated to a lead role in BBC’s ongoing expansion of free credit building counseling and support individuals across Boston.  

A national leader working at the intersection of racial and economic justice to promote credit equity, Working Credit was chosen through a collective process that included United Way of Massachusetts Bay, a Selection Committee comprised of BBC Partners, and a Community Review Team and was in natural alignment with United Way’s mission of building more equitable communities. 

“We are very excited for the future of Boston Builds Credit under the leadership of Working Credit, a nationally recognized expert in the credit building field, says Daphne Principe-Griffin, Interim CEO of United Way Massachusetts Bay. 

BBC’s impact includes helping 50% of subprime participants improve to at least a prime credit score, with 1 in 3 unscored or subprime participants seeing credit improvements within six months. The initiative has also led to major partnerships, such as a three-year pilot providing financial coaching to 272 students at Boston-area community colleges, with 37% achieving credit success within a year. 

“Boston Builds Credit has laid a strong foundation for advancing financial well-being and credit equity in Boston. As we transition leadership to Working Credit, we do so with confidence that this work will continue to grow and reach even more people,” says Marie Elianor, Senior Director of Economic Inclusion and Wealth Building at United Way of Massachusetts Bay. “This next phase is about deepening impact, expanding access, and ensuring that credit building remains a key tool for economic mobility. We're proud of what we've built together and excited for what's ahead." 

"We couldn’t be more honored to be selected to lead BBC into its next phase,” says Sarah Chenven, CEO of Working Credit. “In addition to Working Credit’s alignment with BBC’s vision for scaling credit building as a strategy for economic and racial justice, we are thrilled to collaborate closely with the myriad partners and community members who make up Boston’s robust credit building and economic empowerment ecosystem.”  

For more information about Boston Builds Credit, visit bostonbuildscredit.org.