The Urban Financial Services Coalition (UFSC) is a non-profit professional trade association in the financial services industry established in New York City in 1974, originally known as the National Association of Urban Bankers (NAUB). Robert Samuels (inaugural president), along with Charles Stewart, the late Nathaniel Harris, and other minority pioneers in banking, founded the international organization by bringing together five local unaffiliated minority banking chapters located in Boston, Chicago, Detroit, Little Rock, and New York.
Over the years, the organization has grown to over 3000 members: with nearly 50 chapters in the US and Canada at a point in time. In May 2000, the organization expanded to encompass the entire financial services industry and changed its name to UFSC to reflect its industry-wide focus. Visit www.ufscnet.org for more information on the international organization.
UFSC-Puget Sound Chapter History
The Urban Financial Services Coalition – Puget Sound Chapter (UFSC-PS) is a 501 C 6 non-profit organization of culturally diverse professionals in the financial services industry and related fields. Chartered on June 4, 2009, the organization is an affiliate of the UFSC formerly known as the NAUB.
To be the preeminent financial services organization that provides professional development programs, supports educational advancement, and promotes economic empowerment for its members and the minority communities at large.
To ensure the full and equitable participation of people of color at all levels in the financial services industry.
UFSC-PS is organized exclusively for the purpose of promoting the common interests in the financial services industry and is not organized for profit or to engage in an activity ordinarily carried on for profit. The objectives of the UFSC-PS are:
- To bring together minority professionals in the financial services industry for the exchange of experiences, ideas and interests in order to help promote career and professional development;
- To acquaint professionals with the opportunities available in the financial services industry;
- To provide educational, technical and advisory assistance to the underserved communities in the Greater Puget Sound counties and in developing countries; and
- To promote financial education by improving financial literacy to new immigrants and into the unbanked and underserved communities.
While we live in an era of continuing industrial and economic progress, a significant percent of the population (especially minorities) continues to struggle with day to day expenses. Nearly two-thirds of the American population continues to sink deeper into debt inching closer towards homelessness. While the cost of living continues to escalate much faster than the creeping working class wages, millions are at the brink of economic disaster. Financial disasters can turn families into predatory loan victims and eventually victims to more serious issues such subprime lending, homelessness, crime, and drug abuse. Lack of funding and structure to provide the required financial education to the necessary individual is leading towards degradation of our society as a whole.UFSC-PS is working hard to bridge the gap between community conscious businesses that are able to provide financial assistance to those who may benefit the most. FDIC Money Smart – Financial Education Adult Curriculum and Operation Hope’s Banking on Our Future web-based financial literacy for grades K-12 are just a couple of programs channeled out to the community by UFSC-PS. Addressing financial literacy or financial assistance is a serious and continuing global challenge.