Building generational wealth in Black communities: A path to economic empowerment

Stephanie Quick While Black History Month may have closed in February, reflecting on the ongoing journey toward equity and empowerment within Black communities is crucial. One of the most impactful avenues toward equity is financial security, but unfortunately, that is not easily attainable for many. Antiquated lending practices often make it challenging for minorities to climb out of financial difficulties that have plagued their families for generations. Why is generational wealth so vital? It’s about providing families with the means to invest in anything from college tuition to unexpected medical debt, laying a foundation of stability and prosperity for future generations. In order to make this level of financial security attainable for everyone, lenders need to make intentional efforts to restore hope and provide opportunities for equitable access to funding. At Intend Indiana, our goal is to sell no less than 70% of the homes we develop to Black home buyers, and we aim to lend no less than 70% of our available loan dollars to Black borrowers. I am excited to share that we have surpassed that goal for the past two years. We understand that to see diversity in generational wealth, we first have to create affordable and...