In celebration of the 50th anniversary of the Equal Credit Opportunity Act (ECOA), SoFi has launched the Give Her Credit campaign.
The digital financial services platform has teamed up with tennis icon Venus Williams and Los Angeles Sparks forward Cameron Brink to spotlight progress in women’s financial rights and inspire ongoing change.
The campaign will provide $500,000 in grants, distributing $10,000 each to 50 selected individuals or groups to boost projects promoting women’s financial independence.
50 years of the Equal Credit Opportunity Act
Passed in 1974, the ECOA marked a significant change in the financial landscape, prohibiting discrimination based on gender, marital status, or race when accessing credit.
Before this legislation, women often needed a male co-signer to secure credit.
Today, more than 90% of women actively manage or share financial decisions at home, and single women own more homes than their male counterparts. Yet, despite progress, a financial gap persists.
Empowering the Next Generation
“I am proud to partner with SoFi to identify and support those helping women achieve financial independence,” Williams said in a press release.
“This campaign is about creating real opportunities that empower the next generation to dream big and succeed.”
Brink, SoFi’s brand ambassador said: “While the ECOA opened doors, there is still work to be done. We must ensure the next generation has the tools and confidence to control their financial futures.”
Submissions for the Give Her Credit campaign are open from October 15 to November 13, 2024, with winners announced in January 2025.
Feature Image Credit: Astrid Stawiarz/Getty Images
