City of Rochester Financial Empowerment Center Receives $100,000 Grant from KeyBank
Funding will allow the FEC to expand its efforts to promote homeownership for low-income families, support small businesses, and serve more individuals from the re-entry population.
Rochester, N.Y. Mayor Malik D. Evans announced the receipt of a $100,000 grant from KeyBank to support the City’s Office of Financial Empowerment’s FEC (“Financial Empowerment Center”) program. The funding will allow the FEC to expand its efforts to promote homeownership for low-income families, support small businesses, and serve more individuals from the re-entry population.
“I am extremely grateful for KeyBank’s generous financial gift that will go a long way to helping more citizens learn how to establish good credit, pay down debt, utilize safe banking, and increase their savings,” said Mayor Evans. “The FEC program is an empowering asset for families and entrepreneurs that equalizes opportunities by providing the necessary financial tools to build a brighter future and improve quality of life.”
“KeyBank’s purpose is to help the communities we serve thrive. We are pleased to support the important work that the Rochester Financial Empowerment Center does to promote homeownership, support small businesses and promote economic inclusion,” said Phil Muscato, KeyBank Rochester Market President. “All of us at KeyBank are excited to partner with the City to drive investment in and bring opportunity to the greater Rochester community.”
The FEC provides free, professional one-on-one financial counseling services to help individuals and families with low-to-moderate incomes manage their finances, pay down debt, increase savings, establish and build credit and access safe and affordable mainstream banking products.
The program launched in February of 2020, and to date, has served more than 2,300 clients who have cumulatively increased their savings by over $1.6 million and reduced their non-mortgage debt by more than $2.2 million.
The FEC program is administered by Consumer Credit Counseling Services of Rochester. The program model integrates financial counseling into other social services, such as housing and foreclosure prevention, workforce development, or prisoner reentry. The FEC partners with a range of local agencies and community organizations including: Foodlink, Ibero American Action League, Inc., the Rochester Housing Authority, OACES, Monroe Community College, the Monroe County Department of Human Services, and among others.
FEC counselors are professionally trained and certified by the National Foundation for Credit Counseling (NFCC). To schedule an appointment, contact the Rochester Financial Empowerment Center by calling (585)-252-7110 or sending an email to RochesterFEC@cccsofrochester.org.
