Standing Firm in Power and Pride – ABCUL in Conversation with Rooted Finance for Black History Month

Wednesday 22 October 2025

As part of ABCUL’s ongoing commitment to promoting equity, diversity and inclusion across the credit union sector, we are proud to be working with Rooted Finance, an organisation at the forefront of tackling financial exclusion and systemic inequality.

To mark Black History Month 2025, ABCUL spoke with Muna Yassin, CEO of Rooted Finance, about financial resilience, the ethnicity premium, and the power of representation and collaboration in shaping a fairer financial system.

Rooted Finance’s work builds on over two decades of experience helping individuals and families navigate debt, poverty and exclusion. Today, it stands as a driving force in building economic justice through research, advocacy and direct community engagement.

Financial Resilience in Today’s Climate

For Muna, financial resilience is not just about having money in the bank – it’s about dignity, stability and access to basic security.

“When we talk about financial resilience, we’re not just talking about having a savings buffer,” Muna explains. “It’s about whether people can weather the storm – they can pay for essentials, knowing that their family will be okay. For many of the people we work with, the idea of having three to six months’ savings feels completely out of reach. They’re just trying to get through the month without falling further behind.”

Rooted Finance supports people to rebuild confidence, balance their budgets and regain control one step at a time – often starting with immediate crisis intervention before moving towards longer-term planning.

“It’s easy to talk about savings and planning ahead,” Muna continues, “but if someone’s in a deficit budget, that conversation can feel alienating. Real resilience starts with fairness – with systems that don’t push people into debt simply for trying to survive.”

Debt, Inequality and the ‘Ethnicity Premium’

The scale of structural inequality in the UK is powerfully illustrated in the Runnymede Trust’s Colour of Money report, which found that Black African and Bangladeshi households hold ten times less wealth than white British households. This stark gap isn’t merely a reflection of income differences, but the result of deep-rooted inequities in housing, credit, employment and financial access.

Muna sees this inequality play out daily through Rooted Finance’s work.

“We’re seeing a cycle of disadvantage that’s baked into the system,” she says. “Our data shows that Black and minoritised communities are more likely to experience problem debt, but less likely to access mainstream debt advice or fair credit. And when they do borrow, they often pay more – what we call the ‘ethnicity premium.”

“Imagine two people with the same job, income, and postcode – but one pays more simply because of their ethnicity. That’s not a coincidence; it’s systemic bias. Tackling it means rethinking how we design products, how risk is assessed, and who gets to make those decisions in the first place.”

“This insight underpins Rooted Finance’s Equity in Finance programme – a cross-sector initiative working with organisations including ABCUL, Responsible Finance and Fair4All Finance. The programme promotes data transparency, equitable product design and greater representation in decision-making, helping financial institutions understand and address inequities within their own systems.

“The financial system as it stands wasn’t built with everyone in mind,” Muna adds. “But community finance can help rebuild it differently, from the ground up.”

Why Black History Month Matters

Black History Month provides an opportunity not just to reflect on history, but to celebrate the innovation, resilience and leadership that Black communities have brought to financial inclusion in Britain and beyond.

“It’s about recognising the resilience and innovation that Black communities have always shown – particularly in the face of exclusion. When you look at the origins of the credit union movement in this country, much of it was driven by Caribbean communities who brought over cooperative saving practices from home. The same principles of mutual aid and self-help underpin what we now see as mainstream financial inclusion.”

Muna’s reflection highlights the often-overlooked contributions of Black communities to the credit union movement – communities who turned exclusion from mainstream finance into opportunity through collective ownership and solidarity.

“We can’t talk about inclusion without acknowledging where exclusion came from. Black History Month reminds us of that lineage – but it also reminds us of the strength, creativity and solutions that already exist within our communities.”

“When people see someone who looks like them in leadership, or see services that reflect their lived experience, it changes how they engage. It builds trust. That’s how we start closing the gap.”

Standing Firm in Power and Pride

This year’s Black History Month theme, Standing Firm in Power and Pride, speaks directly to Rooted Finance’s mission and to Muna’s personal values.

“Standing firm means holding your ground when the odds are stacked against you. It means speaking truth to power and staying rooted in your values, even when it’s uncomfortable.

“Power, for me, is about agency – helping communities move from being recipients of support to being shapers of their own economic futures. And pride is what sustains that. It’s pride in our identity, our contribution, and our ability to create something better.”

“The Equity in Finance initiative embodies that principle – challenging institutions to move beyond awareness and towards measurable change. It aims to ensure that inclusion is not just an aspiration, but a tangible outcome visible in who benefits, who leads and who decides.

“It’s not just about raising awareness,” Muna says. “It’s about moving from inclusion as a slogan to inclusion as an outcome.”

Collaboration for Inclusion

Muna believes that collaboration between credit unions and advice providers is fundamental to creating genuine change.

“We all serve the same communities – people who are striving, resilient, and resourceful, but often overlooked by mainstream finance. Together, we can build pathways that connect financial education, fair credit, and long-term opportunity.”

This spirit of partnership aligns closely with ABCUL’s vision of a united, inclusive financial ecosystem – one that removes stigma and restores confidence in ethical alternatives.

“Debt doesn’t mean failure; it often means survival. And community finance isn’t the poor man’s bank – it’s a system of collective strength. The more we communicate that, the more people will turn to ethical alternatives with confidence.”

Representation and the Future of Finance

For Rooted Finance, representation is not simply about visibility — it is about power, accountability and systemic reform.

“Diversity in itself isn’t enough,” she says. “We need representation in leadership — people with lived experience influencing strategy, risk management, and investment decisions. That’s where real change happens.”

Her call to action extends to the next generation of professionals and advocates working in finance.

“I always say to young people: your perspective is your power. Seek mentors, build networks, and don’t shrink yourself to fit into spaces that weren’t built for you. We need your voice.”

By embedding lived experience into leadership, Muna believes financial institutions can design systems that are more humane, representative and resilient — creating trust that benefits everyone.

Building Change, Together

ABCUL is proud to be working in partnership with Rooted Finance as part of our commitment to building a financial sector that reflects the diversity and dynamism of the communities it serves.

As we celebrate Black History Month 2025, we recognise that standing firm in power and pride means continuing to challenge inequality, strengthen collaboration and amplify the voices driving change from within.

Together, we can ensure that financial inclusion is not just a principle — but a lived reality for all.

Rooted Finance is a pioneering debt advice and financial inclusion charity with a vision for a fair, equitable financial landscape, where all individuals can thrive, not just survive. Working across the UK, its quality-assured advice team reflects the communities they serve, ensuring culturally appropriate services and expert-by-experience values underpin their holistic approach to strengthening financial wellbeing.

www.rootedfinance.org.uk