Philly Builds Credit Initiative to Help Thousands Access the Financial System

New initiative brings national credit-building model to Philadelphia to turn barriers into bridges

Philadelphia, PA — On Tuesday, May 20, Finanta and Congreso de Latinos Unidos, in partnership with the Credit Builders Alliance (CBA), announced Philly Builds Credit —a bold new effort to tackle the credit gap affecting hundreds of thousands of Philadelphians.

Across the city, more than 250,000 residents are underbanked or credit invisible, making it difficult to rent apartments, buy homes, open businesses, or even land a job. Philly Builds Credit aims to change that by bringing credit-building services, education, and products directly into neighborhoods—through the organizations and people residents already trust.

“Credit isn’t just a number—it’s a tool for financial visibility,” said Daniel Betancourt, President & CEO of Finanta. “With Philly Builds Credit, we’re breaking down that barrier by building a trusted network of partners who can meet residents where they are – no matter the age, income or financial history.”

“Philadelphia is a city full of resilience—and financial potential,” said Jannette Diaz, President & CEO of Congreso. “Collaborative efforts like this one are critical to help unlock it, one credit score at a time.”

The May 20 event featured:

A national perspective from CBA on why they’re bringing their proven model to Philadelphia
A funder’s view from Wells Fargo on why credit equity matters now more than ever
A panel discussion with leaders from Congreso, Finanta, and CBA

Philly Builds Credit is built around three core strategies:

Community-Based Credit Education: Training local “Credit Building Champions” to deliver one-on-one coaching and workshops across trusted organizations.
Partner Network & Referrals: Creating a connected ecosystem of service providers to guide residents along their credit journey.
Access to Safe Products: Linking residents to responsible financial tools like credit-builder loans, secured cards, and affordable banking options.

“Credit building is essential to creating a strong financial future,” says Stephen Briggs, Executive Director of Philanthropy and Community Impact at Wells Fargo. “We have partnered with Credit Builders Alliance for years and are proud to do so again to help set Philly residents on the path to financial success.”