Elevate’s Center for the New Middle Class Launches Industry Research Repository

November 20, 2017 8:30 AM

The Resource Database contains research from diverse viewpoints about the middle-class, alternative lending, the banking system, and financial literacy for the public

FORT WORTH, Texas--(BUSINESS WIRE)-- The Center for the New Middle Class, a research-focused body developed by Elevate to engage and educate the public about the growing needs of individuals who do not have access to traditional credit options, today announced it has launched an industry research repository for researchers, reporters, policy makers and the general public. Known as the Resource Database, it is a curated collection of the best research on non-prime Americans and their challenges, attitudes, and needs.

In addition to containing external research and editorial content from sources such as Pew, the National Bureau of Economic Research and “The Atlantic,” the database will house research and commentary from the Center for the New Middle Class regarding economic conditions that affect America’s New Middle Class. The New Middle Class is defined as those who struggle to make financial progress due to a lack of credit or poor credit, specifically those with credit scores below 700, or no credit score at all. This group now represents a majority of the US, and the repository will serve as a resource for users who want to learn more about the changing landscape of this group and various points of view about the space.

“The middle-class was hit the hardest during the Great Recession, even more so than their lower- and upper-class counterparts,” said Jonathan Walker, executive director of the Center for the New Middle Class. “It’s more important than ever to advocate for innovation and change that supports the recovery of this group.”

He continued, “Creating a central place where reporters, policy makers and the general public can find relevant, reliable information furthers the conversation, allows us to understand various viewpoints on the economic factors affecting the New Middle Class, and gives light to the everyday struggles that we can use technology to solve for. We can learn that these individuals are not just borrowers or consumers, but they are families who have struggled to find a footing after being left out of the conversation about lending and banking in our country.”

By visiting the database here users can search for entries, filter the results, and see the full bibliographic reference of information provided. “We hope the Resource Database will be an invaluable tool for users who seek to better understand the New Middle Class and can help piece together the story of the New Middle Class,” Walker said.

About Elevate’s Center for the New Middle Class

Elevate’s Center for the New Middle Class conducts research, engages in dialogue, and builds cooperation to generate understanding of the behaviors, attitudes, and challenges of America’s growing “New Middle Class,” defined as those with credit scores below 700. For more information, visit: http://www.newmiddleclass.org or follow: @NewMidClass.

About Elevate

Elevate (NYSE: ELVT) has originated $4.9 billion in non-prime credit to more than 1.8 million non-prime consumers to date and has saved its customers more than $2 billion versus the cost of payday loans. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s suite of ground-breaking credit products includes RISE, Elastic and Sunny. For more information, please visit http://www.elevate.com.

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Source: Elevate

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