How a new credit scoring system could help immigrant families purchase their first home

The company that created the popular FICO credit score, Fair Isaac Co, announced earlier this week that they will release another version of the FICO score next year called UltraFICO. The UltraFICO could grant access to credit millions of people who wouldn’t qualify for certain loans using the current FICO score, in particular those who have limited credit history.

UltraFICO will take into consideration a person’s assets, including savings and checking account. People will be able to raise their UltraFICO score through maintaining positive account balances in their bank or by using their bank’s billpay features and demonstrating responsible money management. A Fair Isaac rep said that there are 53 million people who do not have a FICO score and UltraFICO will catch upwards of 15 million of them.

ACDC serves hundreds of families each year through housing and financial education workshops. One topic that regularly trips up our clients is credit. We provide credit building seminars to teach people the basics of credit. Because many of our clients have only been in America for a few years, they often don’t have long credit histories and as a result, they have a hard time getting mortgage ready. Sometimes only when they decide to apply for a mortgage do they realize that their credit score is low or even non-existent.

We hope that new credit tools such as UltraFICO will open up more opportunities for our clients on their journey to home ownership.

If you’re interested in speaking with one of our housing and financial counselors for a free 1on1 consultation, please contact us.

Meet one of our Malden youth!

Over 20% of the population of Malden is Asian. Malden High School represents the most ethnically diverse high school in Massachusetts. Located just 5.5 miles north of Boston, along the Orange Line, Malden continues to be a hub for new immigrant families, especially for families that have been priced out of Boston’s expensive housing market.

We knew there was demand for a youth program for Asian American youth because we already had a number of Malden youth travel into Boston weekly to be a part of our Chinatown A-VOYCE program. Earlier this year, we launched our A-VOYCE high school youth leadership program, conveniently held at Malden High School, with an initial group of 8 youth. During the summer, the program expanded to 15 youth, all from Malden. ACDC recently opened a Malden office across the street from the high school, so still very accessible to students.

One of the summer program youth leaders, My Hua, shared her perspective on growing up in Malden:

My (on the left) with friends at Coytemore Lea Park.

My (on the left) with friends at Coytemore Lea Park.

“Hi! My name is My, and I’m a senior at Malden High School. I've lived in Malden ever since I moved here from Vietnam when I was only a year old. I have 2 siblings, a sister and brother, but my family feels so much larger than that because I was raised close to my cousins. Which I have 14 of! On my mom's side alone!

Living in Malden has always been pleasant, it's so familiar and secure to me yet always changing its shops, residents, programs, and activities. The city continues to grow and improve—just like me!

For one of our workshops, we asked youth to write about some of their favorite hangout spots in Malden. This is what My wrote.

To grow and improve myself, I joined A-VOYCE. The program gave me the learning opportunity to speak up and make a change in the city that I’ve always called my home. I’m really grateful for being able to be a part of the program, and I’m always telling others to join as well ! ” 
— My Hua

“Coytemore Lea Park is an easily accessible park that is really pretty and large. I go there often with friends, especially since they live near the park, and it's fun to go to when the weather is warm.

The park has a lot of pleasant attractions for everyone to enjoy. There is one main path that stretches through from one side of the park to the other. There is a large playground in the middle of the park, a small seating area, a basketball court, and even a public garden. This is a place to me that holds special memories. Both my family and friends like to walk around the neighborhood, and we often come to this park. Going to the park always results in a good time for me, no matter what.

The park looked different a couple years ago. It was the same size, but the playground was tiny and the main path was a dirt path. Whenever it rained, the path would turn into mud puddles and would make it slippery for me to walk. I hated it! Malden eventually renovated the park into what it looks like today, but that isn't the end of the story.

It is the community’s job to maintain the park and keep it clean, especially the public garden. But some park goers allow their kids to run in the garden and trample the plants and flowers planted in there, making the garden very unpleasant to look at for the rest of the community who go to the park. However, members of the community soon worked together to try and regrow the garden. Today the garden is in the progress of becoming a really beautiful place to plant vegetables and flowers. Plus, parents are a lot more careful with their kids playing inside there now.

The park’s improvement truly makes me proud to be a part of the community, and I believe it will improve even more to years to come – for generations of families and friends to enjoy.”

We are excited to bring more Malden youth perspectives, like My’s, for you to enjoy. My, it’s great to have you as part of the ACDC family!

If you want to support more young leaders like My, please consider making a donation:

Introducing ANCHOR: ACDC's Creative Placemaking Initiative

Thanks to those who made it out to see our first outdoor art projection on One Greenway With/Without Water. This projection was done as a part of our ANCHOR initiatives.

Chinatowns across America are disappearing. Families who have lived in Chinatown for generations can no longer afford the higher rents and costs of living in the area. These changes transform the Chinatown community until neighborhoods become unrecognizable. Like an eroding seashore, the "shores" or borders of Chinatown are most vulnerable to erosion. 

Our Solution: Anchoring our Borders

For over 30 years ACDC has been stabilizing Boston's Chinatown by building affordable housing and promoting community self-determination through arts, culture and activism.

In the 2010 Chinatown Master Plan, the community highlighted "anchor areas" - landmarks dedicated to preserving Chinatown residents, businesses, and cultural institutions. 

Together, ACDC's ANCHOR projects serve to influence the fate of some of the most valuable land in the city. Through our projects, we want to remind residents and visitors that Chinatown is a place of live, work, and play.

Each letter in ANCHOR represents a characteristic that describes our Anchor projects.

  • Activation

  • Needs

  • Community

  • Housing and

  • Open spaces

  • Residents

We look for spaces that are unused or underused and activate them, so that residents can enjoy the space and imagine the possibilities that the space could be. Our earliest example of this was when some residents took an abandoned parking lot, cleaned it up, and with the help of a simple projector and sheets, transformed the lot into an outdoor movie festival, free for everyone. This annual event has become our popular Films at the Gate.

Our projects address the needs of the neighborhood, leveraging Chinatown's greatest strength: the people. We are committed to designing solution with community. That means we want diverse voices at the decision making table.

Our work centers around housing and open spaces, which we believe are fundamental to healthy families. These are the places where families live and play. Our projects aim to advocate for more affordable housing and open spaces for all.

Finally, residents are central to our work. We not only want to hear their ideas, but we want them to be at the forefront of implementing and bringing to life their dreams of what they want to see in their communities. 

SaturPLAY represents one of our earliest ANCHOR projects that we launched in 2016. For one Saturday a month, A-VOYCE youth activate Chinatown’s Mary Soohoo park with books, sidewalk chalk, and games for the local children.

Follow our blog and our Facebook page for the next SaturPLAY and ways you can join in!

ACDC youth anchor’ing down Mary Soohoo Park at SaturPLAY.

ACDC youth anchor’ing down Mary Soohoo Park at SaturPLAY.

Yu-Wen Wu’s WITH/OUT WATER Installation Brings Interactive Art to Hudson Street

Yu-Wen Wu’s WITH/OUT WATER outdoor art installation glowed on Chinatown’s Hudson Street this past Saturday.    Photo by A-VOYCE youth, Lee-Daniel.

Yu-Wen Wu’s WITH/OUT WATER outdoor art installation glowed on Chinatown’s Hudson Street this past Saturday.

Photo by A-VOYCE youth, Lee-Daniel.

Five tents, symbolic of the housing struggle in Boston’s Chinatown, served as the canvas for projected images and words, layering anecdotes and imagery of housing and environmental concerns, as well as other community issues.

Yu-Wen (far left) at one of the weekly meetings with our Chinatown residents and youth

Yu-Wen (far left) at one of the weekly meetings with our Chinatown residents and youth

The installation is the result of weekly meetings that artist Yu-Wen had with ACDC’s 66 Hudson residents and A-VOYCE youth program participants. Facilitated discussions had the youth and residents learn about the history of displacement in Chinatown while exploring patterns of displacement in their own lives. The group also brainstormed how to foster intergenerational and multi-lingual communities through storytelling, learned about the history of resistance though art and culture, and shared with Yu-Wen their ideas and visions for the project.

Many community members came out to view the installation, including longtime and new Chinatown residents and passers by who were compelled to stop and learn more. Yu-Wen’s piece invited guests to be part of the installation by writing reflections of the art and thoughts on climate change on flags posted around the tents.

This installation embodies why ACDC believes in placemaking or as we like to call it, “placekeeping”. We not only want to engage residents and community members in participating in creative projects that advocate for community needs, but more importantly, we encourage and support them in leading the discussions and activities. As a result, these public installations invite others to join the conversation. The goal is not just to emphasize the urgency of the challenges and struggles within a neighborhood, but to also highlight the strength and resilience of a community working towards positive changes for their family, friends and neighbors.

We are excited to be unveiling our brand new ANCHOR initiative soon, which focuses on advocacy and cultivating leadership within the community through resident and youth-led creative placemaking projects.

Thank you to Yu-Wen, for being such a great collaborator to work with, to our community partner, BCNC’s Pao Arts Center and to the Union of Concerned Scientists, who provided funding for the installation.

If you’re interested in getting involved with projects like this in the future, click the button below to fill out a volunteer form and check “placemaking” as one of the activities.

Yu-Wen Wu is a visual artist based in Boston. Born in Taipei Taiwan, her family immigrated to the United States soon after the enactment of the Immigration and Nationality Act of 1965. Arriving at an early age, her experiences have shaped her work in areas of migration--examining issues of displacement, arrival, assimilation and the shape of identity in a new country. Working in drawing, video, sculpture and installation she pulls together the natural world and social movement on both a personal and global scale. She approaches her own experiences of immigration and other culturally specific happenings by presenting them as a series of natural occurrences, not dissimilar from the migrating bird, passing cloud or ocean tide. (Bio excerpt from Yu-Wen’s website)