With over 600,000 Arizonans estimated to be underbanked, Arizona Financial Credit Union has announced the launch of Azpire, a dedicated new initiative aimed at addressing the needs of individuals who operate outside of traditional banking systems.

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Unbanked and underbanked individuals often rely on alternative financial services such as check cashing, title loans, and money service counters – paying steep fees and some of the highest borrowing rates in the market, with car loans often exceeding 20% and credit card rates topping 30%. Many are left behind due to low income, limited financial education, or life-altering events such as divorce or medical emergencies.

“The traditional financial system isn’t designed for everyone,” said Jason Paprocki, chief strategy officer at Arizona Financial Credit Union. “Too many people are ignored or turned away because they don’t fit into automated decision-making models. With Azpire, we’re creating a new path that is more empathetic, accessible, and designed to meet people where they are.”

Azpire will function as a separate brand and point of entry, tailored specifically to support the underbanked community without requiring them to navigate the barriers of conventional financial channels. This includes:

  • Second-chance checking and credit options for first-time borrowers
  • Loan products for those with less-than-perfect credit
  • Financial education built specifically for the underbanked audience
  • Internal brand ambassadors across Arizona Financial branches to advocate for underbanked customers

By creating a stand-alone identity for Azpire, Arizona Financial aims to foster trust among underbanked individuals while assuring existing members that their services and standards remain unchanged.

To guide the formation and execution of this program, Arizona Financial has enlisted support from local schools and municipalities, as well as some of the community’s most influential organizations such as Chicanos Por La Causa, the Hispanic Chamber of Commerce, Black Chamber of Arizona, BASE Arizona, Local First Arizona, A Permanent Voice, and UMOM New Day Centers. The credit union is currently seeking additional community leaders to join the effort in shaping Azpire’s products, educational offerings, and outreach strategies. 

For more information on Azpire, visit ArizonaFinancial.org/Azpire.