Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) released a new report entitled “A New Dawn: Age-Friendly Banking.” The paper provides an overview of the current economic vulnerability of older adults and proposes a core set of age-friendly banking principles.
“In what is becoming an increasingly challenging economic environment for older adults, it is critical that we work to find ways to preserve their wealth and economic security,” said NCRC President and CEO John Taylor. “NCRC is committed to ensuring that older adults have access to what we call “age-friendly banking.” This report lays out key principles for age-friendly banking to lead the marketplace towards that goal.”
“We look forward to working with financial institutions, regulators, community groups, aging organizations, and community leaders and advocates to advance the cause of age-friendly banking,” said NCRC’s National Neighbors Silver Director Robert Zdenek.
National Neighbors Silver is a multi-year campaign to empower, organize and support economically vulnerable older adults. Combining advocacy, organizing and direct services the campaign promotes access to quality banking services and adequate housing for older adults. Working with the banking industry, the aging network and housing experts, National Neighbors Silver offers a platform for policy and program solutions to build economic security and preserve wealth for aging Americans.
The full report is available here. NCRC would like to thank Atlantic Philanthropies for providing generous support to research and develop the age-friendly banking framework.
About the National Community Reinvestment Coalition (NCRC):
The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families.