Mar 20 2025 49 mins
Financial freedom isn’t just about building wealth; it can be a lifeline. In this episode, we’re diving into a crucial but often overlooked issue: financial abuse in domestic violence situations. Survivors face countless barriers when trying to break free, and economic control is one of the biggest reasons many feel trapped. But what if there were real financial solutions to help them regain independence?
Today, we’re joined by Shirley Senn and Jonathan “JT” Taylor, co-founders of FI SAFE, an initiative dedicated to helping survivors navigate financial abuse and rebuild their lives. With decades of experience in the credit union industry, Shirley and JT are on a mission to show how credit unions can be a powerful force for change, offering financial tools, support, and pathways to safety that traditional banking often overlooks.
We’ll explore the realities of financial abuse, the role financial institutions can play, and the concrete steps credit unions can take to support survivors. If you’ve ever wondered how financial empowerment can change lives, this is an episode you won’t want to miss.
Episode Highlights:
[01:18] FI SAFE is about financial safety for all. It focuses on the financial abuse aspects of domestic violence.
[02:29] We learn about how “JT” has a fire in his belly for taking on financial abuse.
[04:20] Shirley's been in the credit union industry for 30 years.
[05:23] Studies show that 94 to 99% of domestic abuse survivors have been exposed to economic and financial abuse.
[06:02] There was a need for products and services in credit unions to specifically help these women.
[07:33] Shirley's challenges for credit unions to partner and help with assisting these people.
[08:54] How financial abuse plays a role in domestic violence situations. Without access to finances it's almost impossible to break away from the situation,
[11:38] It's about empowering people with options to free their funds and heal their credit, so they can get back on their feet.
[13:02] FI SAFE is trying to put all of the pieces together to create a smooth path for survivors to break away.
[13:47] One out of three women have suffered sexual violence or domestic abuse. 75% have stayed with an abusive partner, because they had nowhere to go.
[18:16] Abuse cannot survive in the light.
[21:05] Purple Bridges is a charitable arm focused on the process of getting folks from the outside world over to a resource center and then to a credit union.
[25:32] Abusers are obsessed with having all of the control. They've stripped away the survivors' identity. Not having a credit score will affect the ability to get all the basic needs to survive.
[28:37] We need to think about the impediments we've put in place that are preventing these people from getting on their feet and pulling back a little.
[30:08] Compassionate banking opportunities include training employees to recognize someone who may be in an abusive situation and need a different approach.
[37:15] There has been a stigma on survivors. Instead of society trying to help, they put so much on the survivor. The credit union was formed to meet unmet needs in the community. Helping with financial abuses is one of those needs.
[39:04] JT and Shirley talk about ways to help.
[44:38] Establish a credit union that's trustworthy and train your employees.
[46:49] We need the brightest impact of people helping people now more than ever.
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