What is credit?

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Vikki Frank
Executive Director, Credit Builders Alliance
www.creditbuildersalliance.org  
202-730-9390

Credit Builders Alliance is a non-profit organization creating innovative solutions to help non-traditional financial and asset building institutions serving low and moderate income individuals build client credit and financial access in order to grow their businesses and/or personal assets.

Vikki Frank is honored and proud to lead Credit Builders Alliance - an innovative social enterprise nonprofit creating new solutions for underbanked families in the U.S. to build credit and assets. Vikki is an economic development specialist with 15 years experience creating solutions for international, national and community-based organizations throughout the Americas and Africa. Vikki comes to CBA from the Department of Treasury's CDFI Fund where she helped under write federal funding for Community Development Financial Institutions and strengthen Native CDFIs through training and technical assistance. Prior, Vikki worked to build the capacity of nonprofits and to advance financial education, IDAs, and asset building in underserved communities through site visits, group training and presentations. She has worked with over 200 community-based organizations. She is recognized nationally for her expertise in adapting mainstream asset-building strategies to diverse population. Vikki has been an active member of the Assets Alliance and also co-investigator with the Center for Higher Education Policy Analysis at the University of Southern California to expand university participation in asset building and IDAs. Vikki Frank holds an undergraduate degree from McGill University and a policy degree from Columbia University.

What is credit?

In this video, Vikki Frank, Kandance Beamon, and Linda Stroman, financial education providers describe several key areas to address regarding debt reduction and elimination. This video is designed to deliver basic financial information to assist individuals and families to be able to identify goals and process strategies for their specific financial needs. The topics included in this video cover are: self-evaluation of debt load, budgeting strategies, understanding the effects on your credit and scores, why savings is important, how to develop a debt elimination plan, and the importance of financial education and how financial counseling may be useful.

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""\\\\hVXXXXXX$h-V||'"VVtPg\V0@<||"\\Hi, my name is Vikki Frank, Executive Director of Credit Builders Alliance. We are a new non-profit helping support community based organizations, working as a financial services and micro enterprise and home buyer industries help their clients build better credits. Today, I am going to talk about how important a credit is as a financial asset in today's economy and in your life, what credit is, how credit is different than debt, the different rights that consumers have around credit and credit reporting and finally, how to build your credit.</p><p>Host: What is credit?</p><p>Vikki Frank: Credit is the decision of a business to lend you money or have a financial transaction with you. In other words, credit is really creditworthiness. It is your reputation. It is a trait that you own that enables people to know something about how you manage your money, how you interact with others in financial transactions and financial relationships. /STYc~ 89;EIVYZ\]dmq"3/4deoz(c)"(r)$'6<UVWv(c)h3/4>h6khL%&<=$a$gd,1h/ =!</p><p>"# $ %

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