Orange County Government Awarded $150,000 Grant for Financial Empowerment Centers Offering Financial Counseling as Free Public Service

Orange County Government Awarded $150,000 Grant for Financial Empowerment Centers Offering Financial Counseling as Free Public Service

Orange County to work towards launch of local Financial Empowerment Center (FEC) with free, one-on-one financial counseling for residents

Orange County, FL - In partnership with the national Cities for Financial Empowerment Fund (CFE Fund), Orange County Government today announced that they have received a $150,000 grant to support the launch of the County's Financial Empowerment Center (FEC) which will offer professional, one-on-one financial counseling and coaching as a free public service to local residents. At the Orange County FEC locations, professionally trained FEC counselors will help individuals and families with low and moderate incomes manage their finances, pay down debt, increase savings, establish and build credit, and access safe and affordable mainstream banking products. At the core of the FEC model is the integration of counseling into other social services, such as housing and foreclosure prevention, workforce development, prisoner reentry, benefits access, domestic violence services, and more. The FEC movement is supported by seed funder Bloomberg Philanthropies, as well as the Wells Fargo Foundation and other generous partners.

Orange County will officially launch its FEC initiatives in early 2025 when individuals and families are setting financial goals and will work with Habitat for Humanity Greater Orlando & Osceola County on the implementation and administration of the program. Individual counseling sessions will take place at Habitat Orlando & Osceola and at area Neighborhood Centers for Families by appointment to help meet residents' unique needs. Additional funding for the implementation of the project will be provided by the American Rescue Plan Act of 2021. The Orange County FEC is also supported by generous funding from the Wells Fargo Foundation.

"We are pleased to partner with the Cities for Financial Empowerment Fund to bring this educational opportunity to Orange County residents," said Orange County Mayor Jerry L. Demings. "In fact, ours will be the first FEC in Florida. Financial security is based on planning, saving, and money management, and we want to help our neighbors achieve that kind of stability. We are honored that Habitat for Humanity Greater Orlando & Osceola County will be delivering the program to interested participants."

"We know that financial health is a continuum, and we want to help people move from financial instability to financial security and wealth creation," said Bonnie Wallace, head of Financial Health Philanthropy at the Wells Fargo Foundation. "Financial counseling and coaching can be instrumental in that journey. We are proud to support the services Financial Empowerment Centers offer in their communities."

"We are proud to partner with Orange County Government and the Cities for Financial Empowerment Fund to establish the Orange County Financial Empowerment Center as a free public service," said Catherine Steck McManus, president and CEO of Habitat for Humanity Greater Orlando & Osceola County. "This transformative program will foster long-term financial stability within our community. Our professional financial counselors are excited to empower Orange County residents and workers to overcome financial challenges, achieve their goals, and create brighter futures for themselves and their families."

"Local leaders know first-hand the connection between family financial stability and community financial stability," said Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund. "Mayor Demings and Orange County are working to join a growing national movement to bring free, high-quality financial counseling as a public service to their residents; we are proud to partner with Mayor Demings to help residents work towards a stronger financial future."

First piloted in New York City under Mayor Michael R. Bloomberg in 2008, FECs across the country have worked with almost 173,000 clients, helping them reduce individual debt by over $276 million, and increasing their families' savings by close to $54 million. In addition, a CFE Fund evaluation showed that this program works even for residents with very low incomes and other complex financial challenges. Orange County is one of several dozen local governments working to launch or have already launched a local FEC initiative. The Orange County FEC is supported by the CFE Fund, the Wells Fargo Foundation, and funding from the American Rescue Plan Act of 2021.

About the Cities for Financial Empowerment Fund (CFE Fund): The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting edge experience with large scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to identify, develop, fund, implement, and research pilots and programs that help families build assets and make the most of their financial resources. The CFE Fund is currently working in over 100 cities and counties and has disbursed over $66 million to local governments and their partners to support these efforts. For more information, please visit www.cfefund.org or follow us on Twitter at @CFEFund; learn more about the FECPublic movement at www.fecpublic.org.