Louisville Financial Empowerment Center
What is a Financial Empowerment Center (FEC)?
The FEC model is part of a national movement of local governments investing in financial counseling as a public service. Developed and replicated with guidance from the Cities for Financial Empowerment Fund, the FEC model is a model of integrating counseling into core social services like workforce development programs, housing programs, and emergency assistance. Adding financial counseling as a component of other social service programs creates a supervitamin effect by supporting the efficacy of the host program, boosting programmatic outcomes, and creating broader and more meaningful impacts for participants.
For more information about the FEC model nationally: https://fecpublic.org/
About Louisville Financial Empowerment Center:
In 2021, Louisville joined a national network of cities who believe that trusted, free, financial counseling services should be an essential city service. Just like waste management services, libraries, and public parks, financial counseling should be available to all residents regardless of their socio-economic status or current asset and wealth portfolio. That’s why we brought the Louisville Financial Empowerment Center to all residents in 2022.
The Louisville FEC is a partnership between Louisville Metro Government’s Office of Resilience & Community Services and the Louisville Urban League. The Louisville FEC counselors are located within the Louisville Urban League’s Center for Housing and Financial Empowerment and the Louisville FEC is a city-branded, led, and supported effort.
This service is not meant to replace or overshadow other financial services in Louisville. In fact, studies show that successful participation in more than one financial service can support more successful outcomes with financial goals. To view some of the other financial services and resources offered through various local programs, click here and here.
Participants can complete a one time session financial assessment or sign up to attend multiple sessions to address a variety of financial goals. Either way, the FEC team is here to support financial wellbeing and to help participants identify and prioritize their financial life.
Counselors can meet with participants virtually, in person at the Louisville Urban League, or at one of several partner locations.