Jose Quinonez: Innovator for Equity in Financial Services
José A. Quiñonez is a financial services innovator creating a pathway to mainstream financial services and non-predatory credit for individuals with limited or no financial access.
Quiñonez is Founder and CEO of Mission Asset Fund, a nonprofit whose mission is to "create a fair financial marketplace for hardworking families." A disproportionate number of minority, immigrant and low-income households are invisible to banks and credit institutions. Without bank accounts or a credit history, it is nearly impossible to obtain safe loans for automobiles, homes and businesses or to rent an apartment. By linking rotating credit associations or lending circles — a traditional cultural practice from Latin America, Asia and Africa — to the formal financial sector, Quiñonez is helping individuals overcome these challenges.
An American Express and Aspen Institute Leadership Academy 2.0 fellow, Quiñonez received a prestigious 2016 MacArthur Fellowship.
Video credit: MacArthur Foundation.