CBA has been selected as a recipient of the Citi Foundation’s 2026 Community Finance Initiative, receiving $500,000 in funding to support nonprofit lenders to incorporate open banking. We will be part of a nationwide group of organizations working to expand economic opportunity and help communities thrive across the U.S.

“We are thrilled to be a 2026 Community Finance Initiative recipient. This support will enable Credit Builders Alliance to expand access to our Open Banking service, helping nonprofit lenders use borrowers’ real-world cash flow data to make more informed lending decisions. By looking beyond traditional credit scores, the service can streamline the application process and help lenders identify qualified borrowers who may otherwise be overlooked because they have no or low credit scores” said Dara Duguay, CEO of Credit Builders Alliance. For more than a decade, the national nonprofit has piloted positive-only rent reporting programs across the U.S.

In a new op-ed published by American Banker, CBA CEO Dara Duguay highlights the growing impact of federal funding delays on nonprofit lenders and financial counseling organizations serving low- and moderate-income communities. Drawing on CBA’s latest member survey, Duguay makes the case that these organizations provide critical pathways to credit, homeownership, entrepreneurship, and financial stability.

“Funding America’s financial lending and counseling nonprofits is the fiscally prudent thing to do. It will cost less than the alternative.” said Dara Duguay, CEO of Credit Builders Alliance. For more than a decade, the national nonprofit has piloted positive-only rent reporting programs across the U.S.

A new report from the Federal Reserve Bank of New York examines the growing need for credit building products and how consumers use them to establish or improve their credit histories. The research draws on qualitative insights from financial coaches and practitioners, including representatives from CBA member organizations. The report highlights the important role of nonprofits and financial counselors in connecting high-need consumers with accessible, affordable credit-building products and identifies key standards for products designed to support long-term credit health.

“Credit-building products remain small-scale as consumers typically find them through referrals by financial counselors or through online searches to fintech products. However, they primarily deliver to high-need populations.”

Homeownership has long been regarded as one of the most important milestones in American life. To own a home means more than putting a roof over one’s head — it’s establishing a place to gather and grow one’s family — and the equity plants the seeds for generational wealth.

Owning a home is a dream that many Detroiters, despite an unrivaled work ethic, are not able to realize due to either low credit scores or no credit history at all.

Rocket Community Fund, in partnership with the Credit Builders Alliance, is working to change that — with a pilot program that uses on-time rent payments to build the credit score needed to purchase a home.

“Rent reporting is an opportunity for those who have been excluded to have a seat at the table,” said Dara Duguay, CEO of Credit Builders Alliance. For more than a decade, the national nonprofit has piloted positive-only rent reporting programs across the U.S.

For years, CBA has connected community-based nonprofits with the major credit reporting agencies, helping credit-challenged consumers to build or rebuild credit – often for the first time.

Experian’s latest analysis done in partnership with CBA shows just how transformative this work can be. From unscored consumers reaching prime tiers to deep-subprime consumers seeing meaningful improvements, the data underscores a truth CBA has championed from the beginning: when people are given the opportunity to build credit, they use it to move forward.

Imagine being divorced, raising two kids, and feeling desperate to move to a larger apartment. Although you have paid your rent in full and on time for five steady years, you learn you have not built the credit needed to qualify on apartment rental applications. You are stuck.

For many Americans, rent is the largest expense they pay. While reporting overdue rental payments is incorporated into credit reports, the positive reporting of rent payments is not. Bad or invisible credit keeps individuals out of the mainstream financial system, limiting their abilities to build credit. It is a considerable obstacle to those seeking housing. Even if an individual does not want to borrow money to purchase a home, many apartment buildings require a tenant’s financial screening to rent an apartment and may require more for a security deposit in cases of thin credit.

The Credit Builders Alliance (CBA) is working to correct this imbalance by working with the credit reporting system to expand positive rent reporting, the reporting of rental payments to one or more of the credit bureaus, as an opportunity for renters who have low incomes to establish or improve their credit. Engage talked with CBA’s CEO, Dara Duguay, to learn more about growing bipartisan support for positive rent reporting initiatives.

Increasing opportunity and housing mobility through rent reporting is something everyone can support, regardless of their politics. In our advocacy on Capitol Hill, we have found that there has been considerable bipartisan interest in rent reporting

Your credit score is among the main factors that help you qualify for credit and set your rates. If that number is below the good credit threshold, you might be stuck with high interest rates and expensive monthly payments.

One way to address this issue is a personal loan to improve your credit. These loans are designed specifically for borrowers who want to raise their scores. However, they come with the same risks as any type of loan. Consider the benefits and drawbacks before applying.

Credit-builder loans are designed for those with little credit, no credit or poor credit, so their eligibility requirements are much more flexible. Dara Duguay, CEO of Credit Builder Alliance, explains: “These loans are less risky for the lender since they hold the money until the customer has made all their required monthly payments.” That allows lenders to lower their eligibility requirements.

As a student, using a credit card responsibly is important for building a positive credit history and avoiding debt. Here are some key tips for using a credit card responsibly:

“The most important factor that goes into achieving an excellent credit score is making timely payments. If payments are late, they are assessed a late fee and may even cause an increase in the interest rate (read the fine print). However, if they are more than 30 days late, this is recorded as a negative on their credit report and can result in a decrease of around 100 points. In order to pay on time, they can set up auto-pay. This way the payment is made automatically, regardless of whether they tend to procrastinate or forget to make the payment. Additionally, they need to take the security of their card seriously. This includes never sharing their credit card number with friends or merchants that are not verified. They also need to report their credit card’s loss immediately, if it is stolen or lost. Dara Duguay, of Credit Builders Alliance.

America’s financial lending and counseling nonprofits could soon be on the brink of collapse. These organizations assist 6 million low- and moderate-income individuals in communities accros the country, most of whom are excluded from mainstream credit systems.

“Federal grants funding nonprofits that help people build strong credit are being slashed. The result will be more foreclosures, evictions, bankruptcies, and out-of-business signs at small businesses across the country, writes Dara Duguay, of Credit Builders Alliance.