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The Equifax Equation

At Equifax, we focus on supporting healthy communities starting with our own internal community of engaged employees. Central to our approach is a desire to engage in a collaborative process with residents, non-profits, fellow corporations, foundations and government stakeholders. We implicitly understand that businesses cannot be healthy and successful if the society around them is ill. As a world class provider of information solutions in the financial sector, we seek to balance our business priorities with complimentary focus areas in underserved communities often with a special emphasis on creating economically healthy individuals and communities. With operations across the globe, Equifax understands that our human and financial investments will vary from community to community. However, through strategic alignment of our resources, insights, and financial partnerships we can transform the communities in which we live and work.

In the 21st century, there must be a closer relationship between business priorities and corporate citizenship. As global partnerships and international collaboration becomes the standard, there are new opportunities for corporations to use their skills, expertise and services to make communities better. We must create a new narrative for corporate philanthropy as an investment in society. A collaboration of top executives noticed that, “Most companies still perceive their philanthropy as charity. They do not focus on the actual results of their  philanthropy or how it has affected the company’s interests.” They advocate for a rethinking, where, “Companies view their philanthropy as contributors to breakthrough collaborations and innovations that address complex social challenges.” This aim benefits everyone - as communities gain financial independence, goods and services provided by Equifax gain customers, creating a mutually beneficial cycle of financial capability.

Our goal is to move from a traditional approach which places philanthropy first to an innovative strategy where investments are aligned and integrated with our core business strategies.

One way to go about this is to determine the economic development index for our investments.

Elements of the index could include:

  • Leverages Equifax Foundation Funding

  • Utilizes Equifax Volunteers

  • Leverages Equifax Solutions

  • Partners with Equifax Customers

  • Partners with Equifax Vendors

  • Develops Community Financial Skills

  • Directly Creates Employment

  • Focused on Target Neighborhood

The President’s Advisory Council on Financial Capability defines financial capability as “the capacity, based on knowledge, skills, and access, to manage financial resources effectively.”

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