Andy Posner: Redefining Financial Services for Good
Explore the significance of moral alignment in leadership and its impact on social change with Andy Posner.
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In This Episode
In this episode of The Boiling Point, we had the privilege of hosting Andy Posner, the visionary founder of Capital Good Fund. Andy’s journey is a testament to the transformative power of determination and a bold vision. His story began while pursuing a Master’s in Environmental Studies at Brown University, where he uncovered the groundbreaking work of Dr. Muhammad Yunus, a Nobel Peace Prize laureate renowned as the ‘Father of Microfinance.’ Inspired by Yunus, Andy recognized that equitable financial services held the potential to uplift communities, both in clean energy and poverty alleviation.
At the heart of Capital Good Fund’s mission is an impressive 96.8% client repayment rate, reflecting the organization’s commitment to making a meaningful impact. Throughout our conversation, Andy shared valuable insights into Capital Good Fund’s innovative loan programs, the challenges inherent in building an organization from the ground up, and the ever-evolving landscape of microfinance.
Beyond his professional journey, Andy’s personal experiences, including his background in youth tennis and his journey with bipolar disorder, have deeply influenced his leadership skills and commitment to social change.
Join us as we explore Andy Posner’s extraordinary leadership journey and the profound impact of Capital Good Fund in this episode of The Boiling Point.
Show Notes
0-10 minutes
Emily and Dave joke about their technological skills. Andy Posner introduces himself. Andy explains his educational backstory and what inspired him to start Capital Good Fund. He tells us more about what his organization does and then the group talks about how bankers once told Andy that his vision was not possible—that he would not be successful. Dave and Emily are impressed to hear of Capital Good Fund clients’ 96.8% repayment rate.
10-20 minutes
Andy takes a deeper dive into Capital Good Fund’s loan program. The group discusses the joys and challenges of building something from scratch, being young, and not knowing all of the potential barriers that exist. Andy, Emily, and Dave discuss the origin of microfinance and how a great idea can be coopted by greed.
20-30 minutes
Andy discusses the future direction of Capital Good Fund and how to expand the financial model. The team talks about difficulties that US federalism, regulation, and payday loans present. Emily asks Andy how his experiences in tennis as a youth prepped him for his future ambitions. Andy shares how his youth, schooling, and living with bipolar disorder have all given him skills for success.
30-40 minutes
The group discusses why it’s important to work for someone and in an organization that shares your morals and ethics. Afterwards, Andy tells us how to learn more about Capital Good Fund. Before the takeaways segment, Andy shares a couple of incredible stories of inspiration.
40+ minutes
Emily and Dave share their takeaways.
ANDY POSNER
Founder & CEO of Capital Good Fund
Andy Posner founded Capital Good Fund in February of 2009 while getting his Master of Arts in Environmental Studies at Brown University, where he was studying financing mechanisms for clean energy. After reading Banker to the Poor by Dr. Muhammad Yunus, the ‘Father of Microfinance’ and 2006 Nobel Peace Prize winner, he quickly realized that equitable financial services could unlock the potential of the poor just as they could do the same for clean energy technologies. At the same time, as the financial crisis of 2008 began to unravel the economy and devastate low-income communities, Andy decided to take action. He created Capital Good Fund with an eye toward using financial services to tackle endemic poverty, first in Rhode Island, and then nationwide.
Andy is a firm adherent of Dr Yunus’ dream to put poverty into museums; or, as Andy likes to put it, to put poverty out of business. Andy’s work has been featured in Providence Business News, the Providence Journal, the Providence Phoenix, the Federal Reserve Bank of Boston’s quarterly publication, the Rhode Island Small Business Journal, CNN and other print, radio and television media. He is also proud to be the Treasurer of the national Board of Directors of the Credit Builders Alliance, an organization of which Capital Good Fund is a member, as well as a member of the Board of the Community Reinvestment Fund, one of the largest nonprofit lenders in America.
Andy has published his ideas in the Huffington Post, the Stanford Social Innovation Review, and nearly a dozen poetry journals, to name a few examples. He was also selected as a 2011 Hitachi Yoshiyama Young Entrepreneur and a 2013 American Express Emerging Innovator (one of 45 globally), and a 2015 Rhode Island Foundation Nonprofit CEO Fellow. When not at work, Andy likes to blog, write poetry, ride his bicycle, and spend time with his beautiful wife Bianca, his son Richard, and his Beagle, Chance. Last but not least, he is proud to have been nominated for the 2019 Puschcart Poetry Prize for his piece The Machinery of the State.