Our Vision

Our Origin Story

The mission and vision of IRC’s Center for Economic Opportunity are informed by its history.

CEO’s origins can be traced back to the International Rescue Committee’s (IRC) efforts to help newly arrived refugees and other low-income families climb the economic ladder. Lack of credit and access to consumer financing was immediately apparent as a significant barrier to prosperity for IRC’s clients – a barrier familiar not only for refugees, but for low-income immigrants and U.S. citizens alike.  

Finding partnerships with existing lenders that could reliably, consistently, and affordably extend financing to its clients proved elusive, so IRC began to offer loans directly – and did so in tandem with their anti-poverty social service efforts. The IRC began lending in 2003 – and CEO’s model today is directly informed by IRC’s years of experience and iterative improvements, mistakes, and breakthroughs.  

By 2015, the IRC had made more than 3,000 loans totaling $3 million, primarily to low-income refugee and immigrant borrowers, while maintaining a 94% repayment rate on its portfolio. More importantly, borrowers could build credit, buy cars, start businesses, and pay for training that could lead to higher-wage, higher-skilled work.

CEO Today

CEO made its first loan as a certified CDFI Loan Fund in 2015, having fully evolved from the IRC's consumer lending pilot program in San Diego and Phoenix in the early 2000s. CEO now operates as a non-controlled subsidiary of the IRC, and as a CDFI Loan Fund, is empowered to grow its model and approach to a larger scale.

IRC-CEO offers modest loans with affordable rates through partnerships with trusted community-based organizations. This mode has been in place since our founding and has succeeded in different contexts, with various partners, and for other populations across the United States - including U.S. citizens who continue to face barriers to fair financial access. Through 2024, CEO has made more than 10,000 loans totaling more than $39 million across the network of IRC offices and other community partners.

Our Mission and Vision

CEO’s mission is to unlock access to credit for refugees, immigrants, and all those seeking to build better lives. 

CEO’s vision is a fair financial system through which people realize their potential and communities prosper. 

IRC’s Center for Economic Opportunity is a 501(c)3 nonprofit organization. Our Tax ID Number is 45-3686069. If you are inspired by our cause and would like to donate, please visit our donation page for more information.