Pittsburgh Financial Empowerment Center Shows Significant Participation Thus Far, Looks Forward to Continued SuccessLeave a Comment
The Pittsburgh Financial Empowerment Center (FEC) offers free, professional, one-on-one financial counseling to individuals and families looking to address their financial challenges and plan for their futures. Since opening its doors in March, the FEC has helped residents from across the region start to build their savings, establish and improve their credit, reduce their debt, and connect to safe and affordable banking products. Take a look at the impact the FEC is already having for Pittsburghers!
Through this innovative partnership between Neighborhood Allies, the City of Pittsburgh and Advantage Credit Counseling Service, Inc., as well as the national organization Cities for Financial Empowerment, clients of the FEC have access to experts that can help them open and utilize safe, affordable banking services, decrease debt, establish, maintain or increase credit scores and build savings and better saving habits, at no cost to them.
On Thursday, July 25th, the FEC partners came together at the Jeron X. Grayson Center to discuss progress thus far and prepare to help even more clients seeking financial guidance. Within the first few months of service, the FEC has already positively impacted the lives of many.
Pittsburgh Financial Empowerment Center by the Numbers
- 165 unique clients served
- 283 total sessions
- 118 follow-up sessions
- 52% of clients attended follow-up sessions
“Thanks so much for taking time with me yesterday. Finances are stressful to me and you made it very comfortable.”– Email from FEC client after initial appointment atRTC/Allegheny County EARN location
Through the Cities for Financial Empowerment Fund, Financial Empowerment Centers operate in 10 other cities throughout the U.S. (New York City, Lansing, Nashville, Denver, Philadelphia, San Antonio, Akron, Greenville, Akron, Memphis). Nationally, they have had an impressive impact:
- 82,000 clients served
- $100 million in debt reduced
- $10 million in savings achieved
No matter what type of financial guidance you are seeking, our counselors are here to help! Anyone over the age of 18 is able to visit any of our FEC locations – there are no specific qualifications that need to be met! The FEC provides a host of in-house services at absolutely no cost to the client. These services inlcude:
- Money management & budgeting skills
- Education on banking & financial products
- Ability to pull and review credit reports
- Guidance on responsible credit use
- Education on consumer rights (debt collection, student loans, bankruptcy, etc.)
- Planning for retirement
- Advisement on saving for home ownership & mortgages
- Referrals to other community providers
Over the next few months, the FEC hopes to continue to grow its referral partner network, engage in more outreach opportunities, and work towards increasing outcomes for individuals in the areas of debt reduction, credit score improvement, and building better savings habits. We hope to see you at an appointment in the coming months!