Financial Empowerment Centers

Program basics

  • Trained financial professionals that provide free consultations to individuals on financial issues and provide referrals to other social services and resources
  • Intended to help individuals open or transition to a safe bank account, establish a credit score, decrease debt, and increase savings
  • Often ensure that individuals receive public benefits and other resources
  • Financial navigation services can be provided in-person or remotely

Strength of evidence

Evidence level: Promising (Third-highest tier)

Target population

Low- and moderate-income adults

Program cost

Dates active

Outcomes and impact

  • Increase utilization of safe and affordable banking
  • Increase credit scores
  • Reduced debt
  • Increase savings

Keys to successful implementation

  • Note: This content is under review
  • Rapport between participants and financial navigators drives good outcomes. Navigators should prioritize clients' goals, encourage clients to return for follow up sessions, and report on their progress.
  • Collecting data on participants and tracking outcomes encourages cultures of continuous improvement.
  • High-quality training for navigators and high expectations of professionalism help build trust among clients, partner organizations, and municipal leaders.

Financial Empowerment Center: Lansing, MI

Financial Empowerment Center: Lansing, MI

The City of Lansing Financial Empowerment Center: Working with families to stabilize finances and save for the future