Tennis legend Venus Williams and WNBA star Cameron Brink have teamed up for an inspiring initiative in honor of the 50th anniversary of the Equal Credit Opportunity Act.

Along with SoFi, Williams, 44, and Brink, 22, are launching the Give Her Credit campaign to raise awareness and offer financial support to 50 individuals in celebration of women’s rights to credit in their own name.

Speaking to PEOPLE about the importance of the initiative, Williams says, “It’s hard to really even fathom in this day and age that a woman would need a male co-signer. My mom is such a strong woman, I can’t imagine her needing a male co-signer in the ’70s to sign anything for her.”

“I actually didn’t even know about it,” Brink admits of the Equal Credit Opportunity Act, which prompted a similar realization for the Los Angeles Spark about her mother’s experience.

“I learned that it’s a law that protects women’s rights and access to credit in their own name without a male cosigner, and I just thought it was so crazy that, gosh, when my mom was young she would’ve needed a man to help her.”

Brink says it’s “really important” to be transparent and “talk about money” as “someone who is starting to become financially independent.”

She and Williams first met two years ago in Miami, “and she was just so kind,” says Brink. “She really takes the time to make people feel seen, that’s what she did with me, and was just such an empowering person to be around,” Brink says of Williams, adding, “I’ve looked up to her for so long.”

Williams says she’s a “huge fan” of the WNBA and has been enjoying watching the league get its due attention.

“It’s just long overdue,” Williams remarks. “Not only is it the right thing to invest in women’s sports, but it’s lucrative. It makes money not only for the women playing, but those who invest.”

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“Even just at the Olympics, to see the variety of athletes who are just incredible in women’s sports, to see women’s basketball grow, to see women’s soccer just be so amazing over the years, to see sports like rugby get a highlight and people being so excited about what the women are doing on that front, it’s amazing,” says Williams.

SoFi’s Give Her Credit campaign will award a total of $500,000 to 50 individuals ($10k per recipient) across the U.S. who further ECOA’s purpose through projects that support or will support women’s financial independence.

Williams tells PEOPLE that her mother and father,Richard Williams and Oracene Price, “really emphasized financial independence” for her and her sisters growing up. The tennis star says her parents encouraged the sisters to “realize the challenges that women were facing in the world and in the workplace.”

“So I’ve lived it, I’ve fought against it, and this is something that really rings true to me, and I’m really excited to be here.”