Serving the Underserved: Understanding Needs, Identifying Opportunities
Steven Shepelwich, Federal Reserve Bank of Kansas City
Each day, an estimated 30 million households—more than one in four nationally—turn to payday lenders, check cashing outlets, convenience stores and other non-depository institutions to meet their financial service needs. This session will present research findings by the Federal Reserve Bank of Kansas City on why some consumers remain outside the financial mainstream and how they manage their money. Strategies, resources and effective practices for expanding access to bank accounts and other asset building programs will be explored.
About Steven Shepelwich, CUDE
Steven C. Shepelwich is a Senior Community Development Advisor at the Federal Reserve Bank of Kansas City, Oklahoma City Branch. Steven leads the Branch efforts to promote economic development and fair and impartial access to financial services in Oklahoma’s low- to moderate-income communities and manages the District’s workforce development program areas. In this role, Steven has lead a research and outreach initiative on the District’s unbanked market, organized national conferences on innovations in consumer financial services, asset-based approaches in rural development and workforce development strategies.
Prior to joining the Federal Reserve Bank, Steven worked with national organizations focused on expanding the roles of financial institutions in low-income communities including leading banks and credit unions, microenterprise funds, and affordable housing loan funds throughout the country. Steven began his career by working internationally with microfinance, rural development, and refugee programs in Kenya, Burundi, and India for over six years.
A native of Fort Worth, Texas, Steven holds a B.B.A in Marketing from Texas A&M University and an M.S. in Resource Development from Michigan State University. He is a graduate of the Graduate School of Banking at the University of Wisconsin at Madison and a Credit Union Development Educator.
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