One of the most exciting initiatives celebrating the 50th anniversary of the ECOA is SoFi’s “Give Her Credit” campaign. This personal finance company wants to emphasize the impact of this historic moment and push for a higher level of financial inclusion and gender equality in the financial sector. Tennis icon Venus Williams and Stanford basketball player Cameron Brink have also committed to SoFi to bring even more weight and advocacy for the cause.
ECOA 1974
ECOA changed the face of the U.S. financial landscape in 1974, which barred discrimination based on gender, race, or other protected characteristics in the extension of credit. Prior to that landmark law, women, especially, were excluded from credit unilaterally from many lending institutions and often only acquired credit in someone else’s name, effectively making them financially incompetent. The Act enabled women and other disenfranchised groups to establish credit, buy houses, and gain more control over their financial futures. SoFi’s “Give Her Credit” campaign is a tribute to this milestone in history and a call to continue expanding resources for women at all ages.
Venus Williams was almost as famous for her advocacy of equal pay and her leadership in the gender equality movement as she was for her tennis career, and she seemed anxious to join the cause. “Credit is an important tool toward independence and stability,” she said. “I’m honored to join forces with SoFi in calling attention to women’s financial empowerment needs.”
Cameron Brink is a new generation of female athletes and financial advocates. She was also satisfied with the cooperation. “This partnership is about making sure women, especially young women, are empowered and educated when it comes to finances. We have come far in 50 years, but there’s still so much more to do,” Brink noted.
The “Give Her Credit” campaign will offer financial education workshops, social media campaigns, and in-person events led by Williams and Brink. SoFi looks to offer accessible resources on budgeting, building credit, and investing that may help women overcome financial challenges. It will teach women how to build and maintain good credit-a fundamental part of financial independence and long-term security.
Financial freedom should be available to everyone, and this campaign honors a pivotal moment in history while pushing for continued progress,” said SoFi’s CEO, Anthony Noto.
Through the power of Williams and Brink, SoFi’s “Give Her Credit” campaign doesn’t only pay homage to the legacy of the ECOA but also accelerates the movement toward a more inclusive future in personal finance.
