First and Last Name: Chris Avila Hübschmann
Raised by a long line of hard-working Texans, I worked my way through college. My freshman year, I bought my very first credit card outside the campus bookstore, where I spent $300 in credit on textbooks. Weeks later, I made a shocking discovery. According to my credit provider, I had unwittingly amassed over 7 years of bad, unusable credit. This inspired me to take action. I thought: what if our credit score was representative of what we do?—what we’ve earned—and based on our merit? Credit Do is rooted in the belief that credit is measured by our positive impact to the community at large.
Credit Do is a non-profit, asset-building social business dedicated to making financial independence a reality for all. We create unique opportunities for purchasing food, clothes, school supplies, and other essential goods in exchange for doing social good. Think of them as Smarter Barters™. By leading relief efforts that meet their community's specific needs, participants earn credit to local businesses and cash contributions that jumpstart their savings accounts. Our founding principles are Learn, Work and Save. Learn: We partner with financial literacy organizations to teach the fundamentals of managing money. Work: We empower people of all ages with opportunities to work for what they need. Save: We provide individuals with savings accounts for continuing their financial growth.
Our progress to date: In just 4 projects, 141 students from the Cornelia Connelly Center and the Univ. Neighborhood Middle School have earned $4700 in credit, $4,950 in savings with 99 savings accounts. We have connected students with mentors from local businesses and universities and savings tool kits to guide them on their path to financial freedom. Our students have set in motion something radically new: a cycle of reciprocal giving that benefits everyone. Students have completed 470 work service hours, collected over 8,388 lbs. of food, raised over 5386 meals and contributed over $16,104 of food to local food banks.
With our Needs-Matching Network, we have created a reciprocal link between the local businesses that provide life's essentials to their key investors, the community members who support them weekly. After we identify a community need, we mobilize the organizations in our network that are uniquely qualified to help. Together, we’ve delivered thousands of meals to food shelters, supported local businesses, and given students new opportunities to provide for themselves by providing for others. The loyalty amongst community members to their local businesses strengthen and a community credit cycle creates a WIN-WIN-WIN for all parts of the neighborhood.
Success looks like introducing the first pre-EARNED credit card in our system. We aim to create a turn-key model that we can implement on a national scale in the Cities for Financial Empowerment. On a global scale we hope to pilot in an area where we can provide clean drinking water, mosquito nets and the most pressing needs. We aim to link the top suppliers of needs to the individuals that need it most in the most expedited fashion. By creating a disaster relief app that link individuals that can do something needed in their area to the businesses that can match the work service hours to their individual needs. Like in the old days.
With an award contribution of $50,000, GOOD and Blake Mykoskie Foundation will be instrumental in helping low-income youth and their families engage in socially productive work experiences in order to earn credit to their local businesses that provide life's essentials, such as food, clothing and school supplies. Simultaneously, families will learn financial literacy skills and the opportunity to accumulate and preserve savings. With additional support we will be able to expand our programming to an additional high-needs N.Y. City public school and pilot in Newark, NJ ( a member City for Financial Empowerment).
Monday, April 22
Friday, May 17
at 12:00 PM PDT
Friday, May 31
Friday, June 14
at 12:00 PM PDT
Tuesday, July 02