SoFi has announced a partnership with Venus Williams and Cameron Brink to launch the "Give Her Credit" campaign, celebrating the 50th anniversary of the Equal Credit Opportunity Act (ECOA). This initiative aims to support women's financial independence by awarding $500,000 to 50 individuals. Each recipient will receive $10,000 to advance projects that promote financial autonomy for women.
The ECOA, enacted on October 28, 1974, marked a significant shift in financial rights by prohibiting credit discrimination based on gender, marital status, or race. It opened doors for women to manage their finances independently. Venus Williams remarked on her personal experiences with inequality: "I am very proud to partner with SoFi to help identify people who are helping women across the country to reach their financial independence."
Cameron Brink shared her perspective as a female athlete: "Just fifty years ago, women like me wouldn’t have had access to credit or the opportunities I have today." Both athletes emphasize that while progress has been made since the ECOA's passage, more work is needed.
Liz Young Thomas from SoFi stated: "As we celebrate the 50th anniversary of the ECOA, we reflect on a pivotal milestone that has transformed the financial landscape for women."
Submissions for the campaign are open from October 15 until November 13, 2024. Participants must outline projects supporting women's financial independence. Winners will be notified in December and announced in January 2025.
For more information about entry details and eligibility criteria for this campaign, visit SoFi's website.