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Woodstock Institute Drives Illinois’ Economic Justice Movement Forward with Strategic Policy Advocacy and Coalition-Building

Member Spotlight

Founded in 1973, Woodstock Institute has been a leading Chicago-based research and policy nonprofit fighting for economic justice and racial equity. By advocating for reform to our financial systems and strategic wealth building for communities of color, Woodstock Institute is leading the movement toward economic prosperity for all.

Working at the local, state, and national levels, Woodstock Institute engages both lawmakers and affected communities to promote effective and pertinent policy change. They use a multifaceted approach that includes advocacy for vital policy measures, research and data collection, and strategic coalition building. Through these initiatives, Woodstock Institute ensures that the communities historically prevented from accumulating wealth can achieve economic security.

Woodstock Institute values partnerships across other organizations in Illinois to advance their goals of economic justice and policy change. As a co-leader of the IL Community Reinvestment Act (IL CRA) Coalition, Woodstock Institute mobilizes other Illinois-based organizations in the fight to strengthen and protect the federal CRA and the IL CRA and address the racial wealth gap. In coalition, Woodstock Institute provides relationship-building toolkits for other nonprofits seeking to engage in this work, guiding them in how to grow partnerships through IL CRA advocacy.

In addition to providing IL CRA-related technical assistance, Woodstock Institute engages in a wide range of policy advocacy. They are a prominent voice in the coalition seeking to pass the Small Business Financing Transparency Act, which would ensure that loan pricing is transparent and easy to compare, empowering entrepreneurs to make informed decisions for their businesses. As one of the leading advocates for the Illinois Predatory Loan Prevention Act (PLPA), Woodstock helped institute a 36% APR consumer loan rate cap in their state.

Woodstock Institute’s Research team provides essential data and timely publications to support their advocacy work. The team’s report on the PLPA reinforced the law’s success throughout the state—emphasizing that there are zero payday loan stores in Illinois now compared to 518 in 2011. The Research team’s recent report on home improvement lending highlights a rising demand yet persistent inequity in home improvement loans in the Chicago area, containing critical information for policymakers and others engaging in the economic justice advocacy space.

Through their diverse initiatives in legislative advocacy, in-depth research, and emphasis on community, Woodstock Institute increases economic access for communities who need it the most.