Accion, a global nonprofit dedicated to building a financially inclusive world, is celebrating 65 years of connecting low-income communities to responsible financial services. The organization will mark this milestone with a gala in New York City on May 20, 2026, honoring three leaders for their work in creating economic opportunities.
From a Small Business to a Brighter Future
Roselin Vargas, a young mother in Bolivia, struggled to find a job and started a small business selling sugar at the local market. When demand grew, she sought financing to expand but was turned away by banks. Her fortunes changed when she found BancoSol, a long-time partner of Accion. Today, Roselin sells flour, sugar, and salt to customers beyond local markets, has expanded her business, created jobs in her community, and built a stable foundation for her family.
Access to responsible financial services transformed Roselin's life, but according to the World Bank's Global Findex 2025, 1.6 billion people remain excluded or poorly served by the financial system. Services like savings, credit, and insurance help reduce small businesses' vulnerability to economic shocks.
Accion's Global Impact
For decades, Accion has led the way in inclusive finance, developing solutions that benefit hundreds of millions of people worldwide. Accion's CEO and President, Michael Schlein, stated: "Accion was shaped by people who refuse to accept a world where economic opportunity is reserved for the few. We have helped build 299 financial service providers serving over 500 million low-income clients across 77 countries. But now, for the first time, global progress in helping people escape poverty has stalled, making our work more important than ever."
Honoring Leaders in Finance and Technology
On May 20 in New York City, Accion will honor three leaders whose work creates economic opportunity for millions: Michael R. Bloomberg (Founder of Bloomberg L.P. and Bloomberg Philanthropies, former Mayor of New York City), Kenneth I. Chenault (Chairman & Managing Director of General Catalyst, former Chairman & CEO of American Express), and Cristina Junqueira (Co-Founder and Chief Growth Officer of Nu). The gala host committee is chaired by Diana Taylor and Phillip Riese.
A Legacy of Microfinance
Accion's early work in the 1960s and 1970s in Latin American informal settlements showed that access to capital was key to helping small businesses succeed. After piloting microloans in Recife, Brazil, Accion helped scale microfinance into a successful model for poverty alleviation and economic development globally.
