Financial empowerment efforts best achieve high-quality scale and impact when they are integrated into, and led by, local government. Across the country, city and county leaders have turned to financial empowerment strategies to build their residents’ financial stability, with a number of localities moving beyond a single program or policy to a dedicated Office of Financial Empowerment.
Across more than a decade of work and 100+ city and county partner experiences, the CFE Fund has seen the importance of dedicated leadership to catalyze other opportunities, like connecting financial empowerment to Mayoral priorities, fundraising opportunities, and policy efforts. With generous support from Bloomberg Philanthropies, the CFE Fund now looks to support cohort of local leaders to launch and lead a newly established local Office of Financial Empowerment through our Financial Empowerment Cities (FE Cities) initiative.
Through the FE Cities initiative, the CFE Fund will support cohorts of local leaders, trained in a new two-year training program. Each OFE Leader will work with the CFE Fund to launch and lead a newly established local Office of Financial Empowerment, managing existing and launching new financial empowerment programs and initiatives. OFE Leaders will also serve as the local government’s internal financial empowerment consultant; bring a financial stability lens to a range of related issues; and leverage their leadership role to ensure financial empowerment is central to local anti-poverty efforts. OFE Leaders also will be well-positioned to bring financial empowerment services and expertise into local racial equity efforts.
The CFE Fund will announce the first cohort of FE Cities shortly. If you have any questions, please contact Brad Willows, Senior Associate.