One Percent For Digital Equity
A Call to Action for Financial & Digital Inclusion Leaders
The National Collaborative for Digital Equity invites you to join the “One Percent for Digital Equity” Campaign to encourage and assist the nation’s federally insured banks to voluntarily commit eventually 1% of their Community Reinvestment Act (CRA) funds for digital equity.
The rationale is simple: without digital access and skill, it has become nearly impossible to find out about, prepare and apply for living-wage jobs, in today’s highly digital economy.
Financial and digital inclusion leaders: Join the nation’s 17 statewide Bank On coalitions, the HBCU Affordable Learning Solutions initiative, and the ABIDE (Accessibility, Belonging, Inclusion, Diversity and Equity) Leaders Network, as we assist banking leaders to patiently develop expertise and familiarity with investing CRA resources for digital equity in ways fully compliant with their federal CRA obligations.
Achieving the 1% goal will unleash nearly $5 billion every year to remove digital divide barriers for those in lower-income households and rurally isolated areas to economic and educational opportunity and to full, safe and effective participation in all the health, civic and social benefits of digital access and skill.
Banks commit nearly one-half trillion dollars in CRA funds each year to foster economic opportunity, inclusion and vitality, in the nation’s low- and moderate-income (LMI) communities. Until recently, banks could not receive credit toward meeting their CRA obligation by investing in efforts to close the digital divide. But fortunately, that has changed.
NCDE’s advocacy and pilot efforts encouraged the Federal Reserve and other federal policy makers to provide banks with CRA credit when addressing the digital divide as a barrier to economic inclusion.
Stand with us to open the door to opportunity for millions of Americans!
Financial and digital inclusion leaders: We urgently need your commitment and leadership now!
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