Michael Schlein Appointed as Chair of Accion Opportunity Fund's Board
Accion Opportunity Fund (AOF) is thrilled to announce a significant leadership change with the appointment of Michael Schlein as the Chair of its Board of Directors. AOF is well-known for its dedication to serving underserved small businesses, facilitating their access to the financial resources they need to succeed.
A New Chapter for Accion Opportunity Fund
Michael Schlein joined the Board in 2020, marking his engagement with the organization after the landmark merger of Opportunity Fund and Accion U.S. Network. This transformative merger combined the strengths of two established nonprofits, melding their extensive experience in credit provision and business advisory for small entrepreneurs. This union allowed the AOF to expand its impact, establishing itself as a crucial entity aiming to foster inclusive finance across the nation.
Vision for Growth and Innovation
In his new role as Board Chair, Schlein is set to steer AOF into an exciting future, emphasizing innovation, scalability, and systematic changes that champion financial inclusion in the United States. Luz Urrutia, the CEO of Accion Opportunity Fund, shared her enthusiasm regarding Schlein's appointment. "Michael has consistently supported our mission for inclusive finance globally," she noted, recognizing his role in AOF's journey so far. As Chair, he is expected to guide AOF into a period of strategic growth and sustainable success, enhancing support for underserved small business owners.
Michael Schlein’s Background
With a rich history in global finance and policy, Schlein brings a wealth of experience to the chair role. As President and CEO of Accion, a prominent global nonprofit, he has been instrumental in pioneering inclusive financial services that resonate with the needs of millions. His previous roles at illustrious institutions such as Citigroup and the U.S. Securities and Exchange Commission, along with his government experience in New York City, have equipped him with unique insights and strategic foresight.
Expressing his enthusiasm for the new position, Schlein stated, "I am excited to take on this role at such a pivotal moment in AOF's journey. This organization emerged from a bold merger and now stands as a leader in providing lending and learning opportunities for underserved businesses. Across the country, there's a high demand for AOF's services, which presents immense opportunities for responsible innovation in financial services. Our goal is to ensure all small businesses gain the benefits of the digital economy."
About Accion Opportunity Fund
Accion Opportunity Fund is deeply committed to enhancing economic mobility for underserved small business owners and communities lacking resources. The nonprofit achieves this mission through providing access to affordable capital, valuable knowledge resources, solid networks, and impactful policy efforts. This dedication solidifies AOF's role as a catalyst in the journey toward economic equality.
About Accion
Accion operates globally with a vibrant mission to create an equitable and inclusive economic landscape for the nearly two billion people excluded from traditional financial systems. The nonprofit focuses on developing and scaling responsible, digital financial solutions that support small business owners, farmers, and women, helping them make informed choices to uplift their livelihoods. Through targeted investments and collaborations, Accion has successfully aided 285 financial service providers that reach low-income clients across 77 countries, positively impacting the lives of approximately 478 million individuals.
Frequently Asked Questions
Who is the new Chair of the Board for Accion Opportunity Fund?
The new Chair of the Board for Accion Opportunity Fund is Michael Schlein, who has extensive experience in finance and nonprofit leadership.
What is the mission of Accion Opportunity Fund?
The mission of Accion Opportunity Fund is to advance economic mobility for underserved small businesses and low-income communities through access to capital and support resources.
How did Michael Schlein contribute to AOF before becoming Chair?
Michael Schlein has been on AOF's Board since 2020, playing a significant role in the organization following the merger of Opportunity Fund and Accion U.S. Network.
What goals will Michael Schlein focus on as Board Chair?
As Chair, Michael Schlein will focus on innovation, scalability, and systemic change to improve financial inclusion for underserved communities in the U.S.
What is Accion's global impact?
Accion has impacted nearly 478 million people by developing and scaling responsible financial solutions, reaching underserved populations worldwide through various initiatives since its inception in 1961.
