The Filene Research Institute hopes a new set of products will improve the way credit unions and banks help low-income consumers manage their finances.

That's the goal of the firm's new financial services incubator, a program funded by a $700,000 grant from the Ford Foundation.

Filene will distribute five new financial service products and services to more than 40 credit unions that have agreed to test them for 18 months beginning in January 2014. The goal is test the products for use in mainstream financial institutions, both credit unions and banks, said Filene Brand Manager Kate Lawton.

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