Despite deep financial challenges, FEC clients succeeded. They reduced debt by $22.5 million, increased savings by $2.7 million, established or increased credit, and opened safe banking accounts.
This report is a three-year evaluation of the Financial Empowerment Center initiative’s replication in 5 cities (Denver, CO; Lansing, MI; Nashville, TN; Philadelphia, PA and San Antonio, TX). Financial Empowerment Centers (FECs) offer professional, one-on-one financial counseling as a free public service. The evaluation draws on data from 22,000 clients who participated in 57,000 counseling sessions across these first 5 city replication partners, and provides additional evidence of the program’s success. For an executive summary of the report, click here.
The CFE Fund held a series of webinars about the evaluation; click here for informational resources from these webinars.
Cities, counties, states, and community organizations who provide government-connected models of free financial counseling and coaching into a national professional learning community are invited to apply to join the FEC Affiliates Network. The CFE Fund will convene Affiliates both in-person and remotely to further partnerships, highlight best practices, and catalog lessons unique to integrating financial counseling and coaching within government programs. Applications are being accepted on a rolling basis. Click here to apply.