Common Cents Lab

Partner with Financial Institutions

Common Cents partners with organizations including fintech companies, banks, credit unions, and non-profits, to test behavior-based interventions aimed at increasing the financial well-being of low- to moderate- income people living in the United States.

Our 2017 partners strive to solve some of the most difficult financial problems Americans face with their finances: from increasing emergency savings to smoothing consumption for SNAP recipients. We work to design a real-world solution, rigorously test its impact, and provide recommendations for scaling.


2017 PARTNERS


Fintech Companies

Chime is a new kind of bank account that empowers people to lead healthier financial lives and automate their savings. Members get a Chime Visa Debit Card, an FDIC insured deposit account and a savings account that helps you save money without thinking about it. The Chime app, which has been featured by Apple as one of the top banking apps in the App Store, makes it effortless to manage your finances from your phone.

DoubleNet Pay automates personal financial best practices. They work with employees to automatically pay their bills on time on payday, fund savings goals and repay debt. By getting obligations out of the way on payday, users have a clear picture of what is left to spend without fear of late or overdraft fees.   

More than 60,000 businesses rely on Homebase’s scheduling, time tracking, and team communication platform to help them simplify their day-to-day job, giving them hours back in their week.  As former hourly employees and managers themselves, Homebase is dedicated to delivering the products, support, and advice owners, managers, and employees need to get the most out of their time and their work.  

Activehours is a way for people to access their paycheck at the tap of a button, shortening the time between pay periods and increasing the ability to manage cash flow successfully. The Activehours app lets people get paid immediately for the hours they’ve already worked. 

NCR provides technology solutions that make the everyday easier by helping banks and credit unions deliver better customer experiences at lower costs-to-serve. Digital Insight, an NCR company, helps banks and credit unions supercharge their growth by offering innovative online and mobile banking solutions that simplify money management for consumers and businesses. 

CoinFlip instantly reduces the amount shoppers pay for groceries by applying funds from private and government sectors (SNAP Healthy Eating, Healthcare, Energy Funds, AARP Discounts and AAA Discounts). The breadth of funding types available makes CoinFlip relevant for all shoppers.

Nonprofits

Grameen America is a 501(c)(3) Community Development Financial Institution (CDFI) organization dedicated to helping women who live in poverty build small businesses to create better lives for their families. They offer microloans, training, and support to transform communities and fight poverty in the United States.

Navicore Solutions is a 501(c)(3) nonprofit organization whose mission is to strengthen the well-being of individuals and families by providing financial education, community outreach, and compassionate credit and housing counseling services. Founded in 1991, Navicore Solutions is a national leader in the field of nonprofit financial counseling. 

Promise Indiana is a grassroots Children’s Savings Account (CSA) program designed to enroll families in a 529 for post-secondary education when their child enters kindergarten. In addition they expose elementary-aged students to college and career discovery activities in their classroom and through experiential learning on a college campus.

The City of St. Louis Treasurer’s Office of Financial Empowerment (OFE) helps residents make better choices with their money. The office offers classes in financial empowerment, individual financial coaching, and the College Kids Children’s Savings Account program, which provides college savings accounts for all kindergarten students in St. Louis public schools.

United Way of Tucson and Southern Arizona works to ensure that families and individuals have the resources they need to achieve economic self-sufficiency and remain stable by helping them access resources, increase income, build savings, and gain and sustain assets.

Accion is a mission-based, inclusive lender combining deep local knowledge with personalized advising to fuel growth in under-served communities across the country.  Since 1991, Accion has made over 60,000 loans totaling over $500 million and provided more than 500,000 entrepreneurs with advising services.

The Community Empowerment Fund (CEF) supports sustained transitions out of homelessness and poverty. CEF provides relationship-based support and matched savings accounts to individuals experiencing housing crises and financial insecurity in Orange and Durham Counties of NC. CEF supports its Members to reach their goals, including gaining employment, securing housing, and building financial well-being. 

Credit Unions

Credit Human is a not-for-profit, member-owned financial cooperative serving over 250,000 members across the United States.

IH Mississippi Valley Credit Union is more than 100,000 members strong and has $1B in assets, making it the sixth-largest credit union in Illinois. Their growth is a direct result of the trust its members place in them and the advantages IHMVCU provides.

With 48,000 members, assets of $450 million, and 10 branch locations, Freedom First Credit Union is the largest Community Development Financial Institution in Southwest Virginia. Founded in Salem, Virginia in 1956, Freedom First Credit Union has an extensive consumer and business banking portfolio and offers a full range of products and services, including innovative online and mobile banking options.