Photo Credit: Disabled And Here
Traditional banks leave many people behind, and banking institutions have fallen short in meeting the needs of disabled people. The disabled community sees higher rates of financial instability and has unique challenges like asset limits; while financial institutions have limited accessibility and low awareness of tools designed specifically for people with disabilities, like ABLE accounts that enable tax-advantaged savings while protecting access to public benefits.
Michigan State University Federal Credit Union, with support from MacArthur, Ford Foundation, and the Robert Wood Johnson Foundation, is developing a new credit union sub-brand specifically designed to serve people with disabilities. It is called Artichoke Credit Union, in honor of Edward V. Roberts, a MacArthur Fellow and civil rights leader. MacArthur’s support is expected to include both grant funding and a program-related investment. Artichoke Credit Union will provide accessible banking, specialized financial education; responsible lending; inclusive product design; live chat, phone, and video support; tools that support long-term financial well-being; and ongoing community-driven improvements.
