Orange County takes a major step towards financial literacy and empowerment as it partners with Cities for Financial Empowerment Fund (CFE Fund) to start the county's first Financial Empowerment Center (FEC), announced Mayor Jerry L. Demings, as per Orange County Government press release, with a generous $150,000 grant, the FEC aims to provide free one-on-one counseling and coaching to residents, especially those with low and moderate incomes, to help navigate financial hurdles, decrease debts, and foster savings growth.
In early 2025, Orange County's FEC will collaborate with Habitat for Humanity Greater Orlando & Osceola County, offering in-person counseling sessions by appointment at Habitat Orlando & Osceola and area Neighborhood Centers for Families. The services are intended to integrate seamlessly into other social programs such as housing support, domestic violence services, and employment initiatives. It's a strategic effort to uplift through fiscal education and management holistically.
Gratitude flows from local to national participants in this community-enriching project; "We are pleased to partner with the Cities for Financial Empowerment Fund to bring this educational opportunity to Orange County residents," Mayor Demings stated, per county's news release, emphasizing the importance of financial planning and security; while Wells Fargo's Senior Vice President, Kate Wilson expressed pride in supporting the financial counseling services, remarking on the significant role such coaching plays in the "financial instability to financial security and wealth creation" continuum.
Catherine Steck McManus, president, and CEO of Habitat for Humanity Greater Orlando & Osceola County, praised the program for promoting long-term financial stability, while Jonathan Mintz, president, and CEO of the Cities for Financial Empowerment Fund, highlighted the crucial link between family finances and community success. The FEC initiatives provide comprehensive financial education and support, including saving strategies and smart investments, to help residents build a more secure future.
The initiative has a strong track record, having helped almost 173,000 people across the country by reducing debt and increasing savings. This shows that financial empowerment works for everyone, regardless of income or financial situation. The program is funded by the CFE Fund, Wells Fargo Foundation, and the American Rescue Plan Act of 2021, highlighting broad support for these important community efforts.
