Greenville Co. receives grant to create Financial Empowerment Ce - FOX Carolina 21

Greenville Co. receives grant to create Financial Empowerment Center

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Nashville Financial Empowerment Center (Source: CFE Fund) Nashville Financial Empowerment Center (Source: CFE Fund)
Financial Empowerment Center (Source: CFE Fund) Financial Empowerment Center (Source: CFE Fund)

Greenville is among a handful of cities in the nation that received a grant to build a Financial Empowerment Center to provide residents with one-on-one trained financial counseling.

The initiative is funded by the Cities for Financial Empowerment Fund that's part of Bloomberg Philanthropies.

Duckett said the CFE Fund began Financial Empowerment Centers in just 5 cities. According to it's website, it's since expanded to 21.

Greenville Human Relations executive director, Dr. Yvonne Duckett, said the centers are built around several strategic goals including encouraging residents to re-establish their credit, decrease debt, save money and engage in safe and affordable banking products.

"This program will assist individuals in Greenville who are struggling financially, who need to be educated in terms of how to become financially stable. Some of these individuals may be interested in purchasing a home... this program is for anyone who lives in the city or the county of Greenville and who's interested in improving their financial status," said Duckett.

She said while anyone can benefit, she's particularly excited about the prospect of helping lower income residents get on their feet financially.

"When you couple financial counseling and social services you get a super vitamin effect. And that super vitamin effect is going to enable individuals to become financially stable and financially well," said Duckett.

She said partnering with the CFE Fund was a 'no brainer' for the Greenville County community.

"We have the same mission. Greenville County Human Relations is very active in the community in assisting individuals with building their credit, first time home buyers, one-on-one counseling, credit building... it's a perfect marriage," said Duckett.

Duckett said the CFE Fund will provide $350,000 in the first year of the grant which Greenville County will have to match with the help of outside partnerships. Duckett hopes the first center will open in March 2018 and several more will follow throughout the city and county in years to come.

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