Connecting Communities®

According to the Federal Deposit Insurance Corporation (FDIC), approximately 5.6 million households are without a checking or savings account – otherwise known as "unbanked." Unbanked households lack a secure and safe place to store their money and can miss out on interest gains and credit-building opportunities. This Connecting Communities webinar featured leaders from organizations focused on advancing banking access for households through safe and affordable accounts via the Bank On program. Panelists also explored findings from the most recent Bank On National Data (BOND) Hub, hosted by the Federal Reserve Bank of St. Louis. This interactive conversation highlighted the benefits of having a bank account, lessons learned in reaching unbanked and underbanked households, strategies for building strong partnerships between financial institutions, local governments, and nonprofit organizations, and how data can inform access to banking. Whether you're a financial institution, policymaker, nonprofit leader, researcher, or advocate, this session will provide practical insights to advancing financial access in your community. Attendees had the opportunity to engage directly with the panelists during a live Q&A session, which provided deeper context and clarity to the findings.

The  Small Business Credit Survey (SBCS) has been administered nationally since 2016 by the 12 Federal Reserve Banks in collaboration with a network of hundreds of community and business groups throughout the country. The SBCS gathers information from thousands of small-business owners on business conditions and characteristics, credit experiences, and owner demographics. It continues to be the largest national dataset of its kind, and its reports provide awareness of small business challenges and how owners respond to them.   During this webinar, Federal Reserve experts provided an in-depth look at findings from the 2026 Report on Employer Firms. They explored key insights from the 2025 Small Business Credit Survey, including: Business financing needs Credit approval outcomes and challenges Customer dynamics and trade activity Adoption of artificial intelligence This session offered timely, data-driven perspectives for those working directly with small businesses, supporting economic development efforts, or seeking to better understand the current small business landscape. Attendees gained actionable insights into the challenges and opportunities shaping small businesses nationwide. Business financing needs Credit approval outcomes and challenges Customer dynamics and trade activity Adoption of artificial intelligence This session offered timely, data-driven perspectives for those working directly with small businesses, supporting economic development efforts, or seeking to better under stand the current small business landscape. Attendees gained actionalbe insights into the challenges and opportunities shaping small businesses nationwide.  

Where an individual lives can play a role in shiping their employment opportunities and interactions. While issues related to where a person is located have been overshadowed by issues related to an individual's personal circumstances, this is starting to shift. During this seminar, presented by the Federal Reserve Board of Governors on April 2, 2026, experts from research and policy discussed how location affects job markets and can contribute to income inequality.

Occupational and economic mobility are crucial for a healthy economy that supports all. In this Connecting Communities webinar, learn more about the Federal Reserve Banks of Philadelphia and Cleveland's Occupational Mobility Explorer (OME) and the Federal Reserve Bank of Atlanta's Career Ladder Identifier and Financial Forecaster (CLIFF) tools. The OME sheds light on skills-based career pathways in the US labor market for jobseekers and employers. CLIFF tools help workers understand how career advancement decisions may affect public benefits, taxes, and tax credits. Together, these two tools can help workers and employers identify potential career advancement opportunities and better understand how such trajectories might better position them for greater economic stability. The session provides a brief overview of each tool and demonstrates how they can be used together to help individuals understand their economic mobility journey. This includes a better understanding of their possible career paths and the potential financial implications of specific occupational choices. Panelists from organizations that use data resources, including these tools, shared their perspectives on skills-based hiring, helping workers navigate benefits cliffs, and ways to foster partnerships with employers.  Related resources: Occupational Mobility Explorer Career Ladder Identifier and Financial Forecaster Fed Communities' Benefits Cliff story series Powerful tool helps job seekers chart a path to higher-paying roles  

How your community experiences the economy—whether you and your neighbors can access employment, afford your home or small business expenses, or save for future goals—matters to the Federal Reserve. Through its community development function, the Federal Reserve builds relationships and regularly engages with communities in every region of the country. The first-hand insights and real-time impressions of economic conditions that arise from these community connections help inform the Federal Reserve's work. During this special conversation with Governor Michael S. Barr, the Federal Reserve Board's oversight governor for consumer and community affairs, we will explore the importance of community engagement. Governor Barr discusses how community engagement helps Fed decisionmakers better understand Americans' day-to-day-economic experiences, concerns, and opportunities.  Hear more about Governor Barr's background in community development and its role in his work over the years. Learn more about what he is hearing from communities and businesses around the country and the value he and the Fed gain from these community insights.

Every two years, the 12 Federal Reserve Banks survey community development financial institutions (CDFIs) about industry conditions. During this Connecting Communities webinar, participants learned more about what CDFIs have shared, including:  How demand for CDFI's products and services changed over the past year and how it might evolve in the future, How CDFIs leverage public funding to accomplish their work, and What challenges CDFIs encountered in meeting demand and delivering on their mission.  In addition to sharing the CDFI Survey results, Federal Reserve staff connected with community development leaders and financial institutions to gain a deeper understanding of economic conditions affecting a broad range of consumers, individuals, and businesses. Attendees hear more about this outreach, including how the Federal Reserve engages with local community development lenders and what we've learned from several CDFI success stories.  2025 CDFI Survey Key Findings Report: https://www.richmondfed.org/region_communities/regional_data_analysis/surveys/cdfi/survey_results/cdfi_survey_key_findings_2025 CDFI Survey Results Over Time: https://www.richmondfed.org/region_communities/regional_data_analysis/regional_matters/2025/cdfi_survey_results_over_time

This Connecting Communities podcast explores key findings from the 2025 Community Perspectives Survey, which was conducted in April and May 2025. The survey captured the current conditions and future outlook of low- and moderate-income (LMI) communities across a range of critical issues, including:  Economic mobility Labor market trends Housing Financial stability Small business conditions Health Digital access Education The session also explored the capacity and needs of organizations that serve LMI communities – focusing on their ability to deliver services, access resources, maintain staffing, and managing expenses.  

How resilient is your community's workforce? A strong, adaptive workforce is a key driver of community stability. During this Connecting Communities webinar, Bill Rodgers, vice president of Community Development Research at the Federal Reserve Bank of St. Louis, presented on current trends in the labor market. A panel of workforce experts and practitioners delved into actionable strategies that you can implement to proactively build and maintain a more resilient workforce in your community.

June 5, 2025- During this Connecting Communities webinar, researchers from the Federal Reserve Board of Governors presented the key findings from the annual Survey of Household Economics and Decisionmaking (SHED). This survey was fielded in October 2024 and released on May 28, 2025. The SHED is a key tool of the Federal Reserve Board, as it helps to understand the financial circumstances of low-income families and understanding potential risks to their financial health. The researchers discussed trends in family finances, employment, and the financial risks faced by U.S. adults.   In addition to monitoring major aspects of household financial circumstances on an ongoing basis. Each year the survey also covers other topics that can directly affect financial well-being. In 2024, the survey included new questions on financial fraud, reintroduced questions on gig work, and expanded the modules on caregiving and homeowners' insurance—answers to which were covered in this session. Additionally, the survey continues to ask questions on the use of credit products, savings, and housing.   Additional Resources: Survey of Household Economics and Decisionmaking (SHED): https://www.federalreserve.gov/consumerscommunities/shed.htm

February 13, 2025. From the northeast corner of Maine to west central Texas, leaders are partnering with regional Reserve Banks—and each other—in unique ways to help ensure that local economies work better for everyone. What does it take to work across sectors and collaborate effectively to help change a local economy? Local leaders who participated in three Fed-supported place-based initiatives, Working Places (Boston), Advance Together (Dallas), and Southern Cities Economic Inclusion (Atlanta), discussed during a panel what economic challenges each initiative took on and how they partnered with Federal Reserve Banks' community development departments to address them. They also shared results of this work. During this Connecting Communities webinar gain perspectives on what's needed to build sustainable and impactful collaborations. Learn more about how different sectors can contribute to and benefit from engaging in place-based initiatives, and strategies for navigating common roadblocks to achieve long-term results.

October 10, 2024. Historical and systemic factors have led to and still contribute to climate vulnerability in lower-income communities. But there are practical solutions for clean energy, resilience, and equity. In 2024, the Federal Reserve Bank of New York, in collaboration with Enterprise Community Partners and Local Initiatives Support Corporation (LISC), published a volume of essays about the intersection of community development and climate resilience. During this Connecting Communities webinar, New York Fed Staff and community leaders discussed solutions to address urgent climate and community needs that affect vulnerable and lower-wealth communities of color.

In April 2024, the Federal Reserve conducted the Community Perspectives Survey, which focuses on economic conditions in low- to moderate-income (LMI) communities and the health of organizations serving them. Overall, the survey found poor conditions for economic mobility in LMI communities. Access to housing and increasing cost of goods and services were among the top challenges. Respondents did note that continued availability of jobs was contributing positively to economic mobility. During this Connecting Communities webinar, Federal Reserve Staff and leaders from national community development organizations discussed the findings and how their organizations continue to provide vital services to LMI communities and play a part in promoting economic resilience and mobility.

August 8, 2023. Conversations with the community make a difference. Community development practitioners and policymakers recognize the value of conducting research with communities as partners through community-engaged research. This approach invites stakeholders into the research process by centering their perspectives and elevating their expertise. These discussions help create better services, understand policy barriers, and learn what works best. During this Connecting Communities discussion, hear examples of how community-engaged methods can highlight the experience of workers and jobseekers. Researchers shared what they learned from these conversations and how institutions, organizations, or communities can leverage the same principles.

The Survey of Household Economics and Decisionmaking is the main survey from the Federal Reserve Board of Governors for tracking the financial circumstances of low- and moderate-income families and potential risks to their financial health. This year's survey continues to track key topics related to financial outcomes, such as the effects of inflation on household finances, emergency savings, housing, returns to education, and retirement. New topics have been added, such as food sufficiency, caregiving, employment of those with a previous arrest or conviction, and homeowners insurance. In this Connecting Communities episode, researchers from the Federal Reserve Board of Governors shared findings from the survey on trends in financial well-being. Based on the survey results, they answered attendees' questions about the financial conditions among low- and moderate-income populations.

Bank branches in the US have been closing steadily for over a decade, but that trend accelerated during the pandemic. Online and digital banking may be out of reach for those without digital devices, broadband, and digital literacy skills. A lack of access to physical banking services can create banking deserts, or geographical areas where there is a significant lack of access to traditional bank branches. Lack of access to physical branches may create challenges for lower-income, rural, older, and disabled customers, and can restrict opportunities to improve their financial health and build wealth. In this Connecting Communities webinar, experts shared research on bank branch closures and the value of in-person banking. They also discussed the Fed's Banking Deserts Dashboard, which analyzes where the deserts are (and could potentially be) located. A panel of experts also shared potential solutions for grappling with these issues.

During the COVID-19 pandemic, in 2021 the U.S. Department of Treasury deployed $46 billion to support housing stability. Without existing local and state infrastructure to quickly deploy these federal rental assistance dollars, community-based organizations (CBOs) across the country played a key role in helping ensure the funding reached households that needed it most. On February 15, 2024, we hosted a Connecting Communities event featuring experts who will share groundbreaking tactics used by three CBOs across the country. Discover essential principles for effectively distributing aid to marginalized communities and learn strategies to enhance the capabilities of CBOs for future challenges.

This podcast explores the challenges of labor market disparities and economic inequality. Dr. Niki vonLockette shares insights into systemic discrimination and policies for equal employment opportunities.

Benefits cliffs create economic challenges for workers and employers alike. A benefits cliff may occur when an increase in income—from working more hours, getting a raise, or taking a new position—pushes a worker above the income eligibility limit for one or more public assistance programs, and the loss of assistance is greater than the value of the increase. This forces people to choose between their family's immediate financial best interest and their own longer-term wage growth and career advancement. These cliffs can also stymie employers seeking to hire workers and develop their skills through internal career pathway opportunities. On October 12, 2023, we hosted a Connecting Communities webinar with experts exploring this economic challenge from the perspective of employers, the Federal Reserve, and community leaders who help families navigate public assistance programs and plan for career advancement opportunities. In this session, we learned about tools developed by the Atlanta Fed that can identify and inform mitigation strategies. We also heard about innovation pilots including Florida, North Carolina, Tennessee, and Washington D.C. that may inform the future efforts of state and community leaders working to develop solutions to the benefits cliff.

As we know, the labor market and disparities within it have notably changed since 2018. That's the last time the Federal Reserve System hosted a conference around uneven outcomes in the labor market. As we gear up for our next convening on this topic in February 2024, we're taking the opportunity to chat with speakers who joined us at the 2018 event. We're asking them What insights can you share as we take stock of the past five years of change in the labor market?   And what lessons learned should be consider as we look ahead to the future?

Community Development Financial Institutions (CDFIs) provide financial products and services to underserved markets where it may be difficult to access what traditional financial institutions offer. Every other year, the Fed conducts a survey of CDFIs to better understand the barriers and opportunities that they face. This year's survey sought input on various topics ranging from demand for products and product innovation. This year, 453 institutions responded to the Fed's 2023 CDFI Survey. Speakers from the Federal Reserve Banks of Atlanta, New York, and Richmond hosted a Connecting Communities webinar, sharing key findings from the survey and their thoughts about the road ahead for CDFIs. During this Connecting Communities webinar, speakers discussed the demand for CDFIs' products and services, challenges to meeting demand—including lending capital—and innovations in products and practices. Learn about CDFIs' approaches to tracking outcomes—and their limitations. Speakers discussed how the survey results help inform future Fed research initiatives. Speakers shared Fed research on CDFIs' use of secondary markets and financial leverage.

Workers are key to the country's economic success. Their voices are critical to conversations about understanding the labor market. Last year, the Federal Reserve held virtual focus groups across the US to find out how workers in lower-wage roles and job seekers with less than a bachelor's degree experienced the labor market during the pandemic. During this Connecting Communities webinar, hear insights about how many workers are reshaping the workforce. The discussion addressed enhanced expectations of job quality and how workers are using skill development and self-investment to change their economic opportunities. During the event, Federal Reserve Presidents Raphael Bostic from the Atlanta Fed and Patrick T. Harker from the Philadelphia Fed share their perspectives about this important topic.

How did inflation affect families last year? Did trends shift in the use of emerging financial products? This recent discussion with the Federal Reserve Board of Governors explores findings from the Survey of Household Economics and Decisionmaking (SHED). For the past decade, the SHED has provided insights into financial challenges families face. The latest report on the Economic Well-Being of U.S. Households in 2022 uncovers compelling data around various aspects of people's financial lives.

Underserved communities face significant challenges in achieving a full and equitable recovery after natural disasters. One reason is that these neighborhoods often lack access to services offered through disaster funds and the necessary insurance to protect their households. The Federal Reserve and Federal Emergency Management Agency (FEMA) shares how FEMA programs can help low- to moderate-income communities respond to these challenges. FEMA clarifies the role of the National Flood Insurance Program (NFIP) in recovery. Speakers also discuss how collaboration among faith communities, nonprofit organizations, local businesses, and economic partners through long-term recovery groups (LTRGs) is critical for rebuilding stronger communities.

Access to quality early childhood education (ECE) is critical to the well-being of communities and the economy. The pandemic further exposed existing issues, including how a lack of access to reliable and affordable childcare affects the parental workforce, yet also how financing challenges strain provider profitability. On May 11, 2023, the Federal Reserve Banks of Boston, Minneapolis, and St. Louis hosted a Connecting Communities webinar exploring recent research around cost and affordability challenges, especially for workers needing nontraditional hours of care and financial constraints on the provider side. The event included a discussion of innovative solutions to help attract and retain ECE workers and sustain quality programs.

Small businesses are on the road to recovery, although hiring, supply chain disruptions, and rising costs remain persistent challenges. As small-business owners navigated these challenges through 2022, pandemic-related funding programs ended, and owners turned to other funding sources – including traditional financial institutions and their own savings. How are small businesses doing? How are they accessing credit, and what gaps remain? On April 13, the Federal Reserve Bank of Cleveland held a Connecting Communities webinar exploring new insights from the Federal Reserve Small Business Credit Survey (SBCS) 2023 Report on Employer Firms.

After almost three years, the economic and health effects of COVID-19 continue to linger for low- and moderate-income communities and communities of color. Organizations serving these communities also continue to feel the strain of COVID-19. There are signs of slow stabilization and recovery. There were lower levels of pandemic-related effects in many segments of the economy relative to 2021. But to promote a true recovery that benefits these communities, it is important to monitor the conditions and needs of the organizations who serve those affected most.