Boston Builds Credit


Good credit matters. Far more than just a number, a good credit score opens the door to renting a home, building assets, and avoiding high interest rates and fees. That’s where Boston Builds Credit comes in.

Good credit provides access to low-cost credit cards, mortgages, car loans, and many of life’s other necessities. Without good credit, it can be tough to open a cell phone or utility account or even land a job. Right now, Bostonians with poor credit can pay up to $238,000 more in fees and interest rates over a lifetime than those with good credit. We call this expense inequality. Not only is it a burden on an individual’s or family’s economic mobility, it’s a significant contributor to a growing wealth divide in Boston.

Closing the gap

There are more than 200,000 Bostonians who are either unscored or have poor credit. That’s why United Way joined forces with the Mayor’s Office of Financial Empowerment and LISC Boston to launch Boston Builds Credit, a first-of-its-kind, citywide movement with an ambitious goal: to help 25,000 Bostonians achieve a prime score (660+) by 2025.

How the Program Works

United Way, LISC Boston, and the Mayor’s Office of Financial Empowerment have engaged a growing network of dozens of partners, including nonprofits, employers and financial institutions, to ensure Boston Builds Credit is a success. These partners actively recruit and connect residents to safe, affordable credit building products. They also provide services ranging from one-time introduction to credit building workshops to credit counseling sessions and ongoing financial coaching, enabling people who are unscored to set goals and build assets.

A transformational Opportunity for Boston

Scratch the surface and it quickly becomes clear that Boston has some of the highest economic inequality in the nation, with a stark and unacceptable racial wealth divide. The average net worth of white families is $247,000 while the average net worth of black families is $8.

That is not a typo.

While a variety of factors fuel this situation, credit building is one important and underutilized tool for addressing inequality and opening doors for all Bostonians to build assets, reduce expenses, and pursue their goals.

Click the link below to learn more about how to join the movement.


Watch the Oct. 25, 2017 BNN report…


Boston Builds Credit Partners

With Leadership Support From: