Tim Chen Of NerdWallet: Time to focus on more organized corporate social responsibility program
Last week personal finance app and website NerdWallet announced moving $2 million of NerdWallet capital to Self Help Credit Union – which serves low-income populations in Oakland, CA. The company is also partnering with the nonprofit association of community credit unions, Inclusiv, to scale up this effort nationally. Tim Chen, CEO and founder of NerdWallet, is hoping this will spark other companies to leverage the position credit unions have in local communities – many of which are in low-income and distressed areas hit hard by the pandemic – to pump much needed funding and capital directly into the hands that need it most. I recently spoke with Tim via LinkedIn Live to get a bit more insight into why doing this now is important to NerdWallet, how the employees of the company were a driving forced behind the idea, how working with credit unions is a better fit for this effort than partnering with the big banks, and how helping underserved communities is also benefiting NerdWallet as well.