Washtenaw County is exploring the feasibility of a Washtenaw County Financial Empowerment Center (FEC). The County was recently selected by the Cities for Financial Empowerment Fund (CFE Fund) to join a cohort of local governments working to launch this important public service in 2020.
If established, the FEC would provide free, high-quality, one-on-one financial counseling for County residents as a public service. This model is already in practice in Michigan (Lansing and Detroit), giving us models and local expertise to learn from. At the FECs, professionally trained counselors help individuals with low and moderate incomes manage their finances, pay down debt, increase savings, establish and build credit, access safe and affordable mainstream banking products and more.
Washtenaw County is in the process of identifying local community partners, establishing an advisory board and funding experts to support this initiative with a goal of submitting a complete implementation proposal to CFE Fund in July 2020. The advisory board Kick-Off was held on March 27, 2020; CFE Fund was also in attendance.
For more information regarding the FEC in Washtenaw County, contact Moonson Eninsche at [email protected]