Julian Bond Institute Report Highlights Aspirations and Hurdles to Financial Stability for Atlanta’s Westside

DURHAM, NC – Residents of English Avenue and Vine City want planned reinvestment in the Westside Atlanta neighborhoods to include expanded opportunities for economic mobility, protections and safeguards against community wealth-stripping, and increased access to banking services and financial education to help residents achieve the financial stability needed to help grow and sustain their communities, according to a report released today by the Julian Bond Institute (JBI) of the Center for Responsible Lending.

The report, “Credit for the Westside: Building Financial Resilience in Atlanta’s English Avenue and Vine City Neighborhoods,” used a mixed-methods approach, including a survey, interviews and focus groups, to better understand the financial experiences, challenges, and aspirations of people living in Atlanta’s Westside. The community – 44% of study respondents were from English Avenue and Vine City, and most of the other survey respondents were from surrounding Westside Atlanta neighborhoods – also identified potential interventions that are needed to support financial stability, long-term wealth-building, and resident-driven economic opportunity.

Residents for years have expressed concerns that large-scale development projects, including Atlanta hosting 2026 FIFA World Cup matches, have not adequately addressed the underlying needs of Vine City and English Avenue, and that these projects potentially contribute to rising property values, displacement pressures, and the diversion of public resources from schools and other community priorities.

“Neighborhood investments have generated important improvements, but they must be structured to prevent displacement of existing residents and institutions,” said Temecia Curry, PhD, assistant professor at Clark Atlanta University and a report co-author. “These findings indicate the need for continued collaboration among residents, government, philanthropy, financial institutions, employers, and community-based organizations.”

Residents continue to face limited opportunities for economic mobility, with only 5% of children born in English Avenue and Vine City estimated to reach the top 20% of household incomes during adulthood, said Alex Rogers, CRL researcher and a report co-author. “Lack of access to safe and responsible financial services also forces more Westside residents into predatory loans and scams.”

The Report's Five Key Findings

  1. Access to financial services is not enough—the quality and design of access matter
    While most residents have access to traditional banking, access alone does not translate into financial stability. Most Westside residents reported using traditional banks or credit unions, but 68% have also used one or more alternative financial services – like payday loan apps or car title loans – in the past year.
    • Recommendation: Expanding Inclusive Banking Pathways to ensure that banking products are transparent, affordable and responsive to their financial needs.
  2. Limited income and financial reserves leave households exposed to financial shocks.
    Chronic under-employment and low wages leave many Westside households with limited savings to absorb unexpected financial shocks. Only 19% of Westside residents earning under $25,000 annually could cover an emergency expense of $500 or more, pointing to the need for strategies that help households build long-term financial resilience.
    • Recommendation: Building Financial Resilience Pathways
  3. Debt and credit barriers can reinforce a cycle of financial vulnerability.
    Credit and debt barriers can compound financial vulnerability, pushing some residents toward high-cost or predatory financial products and making it more difficult to build household and community wealth. Approximately 35% of Westside residents identified credit barriers as preventing them from building wealth, while 37% reported using a high-interest lender because they believed a bank or credit union would not approve them.
    • Recommendation: Creating Affordable Credit Pathways
  4. Different groups experience financial vulnerability in distinct ways.
    Financial challenges vary considerably based on residents' socioeconomic statuses and circumstances, including gender, caregiving responsibilities, age, and business owner status, creating distinct combinations of financial pressures and opportunities. For example, Westside women were nearly four times as likely as men to report being able to afford only $100 for an emergency. Meanwhile, Westside business owners reported on average 2.6 more types of debt than non-business owners.
    • Recommendation: Designing Targeted Financial Mobility Pathways
  5. Housing is both a source of financial strain and a pathway to wealth.
    Renters and homeowners have unique financial needs and challenges, but both groups are affected by rising housing costs. The report found that 67% of Westside renters cite rent increases as their key financial challenge, and 76% of homeowners cite rising property taxes or home insurance costs as theirs. Additionally, there is a need to preserve accumulated wealth from homeownership while expanding additional pathways to wealth-building.
    • Recommendation: Promoting Housing Stability and Broader Wealth Pathways

“The report shows the strong desire among Westside residents to achieve financial stability and build wealth,” said Mandy Eidson, director of business development and community engagement at Self-Help Credit Union and a report co-author. “It also highlights the challenges that must be addressed, including building a more holistic approach to financial mobility that combines better-designed financial services with enhanced income support, consumer protections, affordable credit, and housing strategies that help residents weather financial challenges.”

###

Press Contact: Alfred King alfred.king@responsiblelending.org