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The Cities for Financial Empowerment Fund (CFE Fund) is accepting applications from cities or counties looking to develop a municipal financial empowerment blueprint, outlining strategies for financial empowerment programs and policies based on stakeholder and community input and with a focus on wealth advancement, for its CityStart initiative. In this wealth equity-focused iteration of CityStart, the CFE Fund will work with cities and counties to address the financial empowerment needs of residents, prioritizing neighborhoods and communities in high-poverty census tracts. Selected partners will identify strategies to launch and increase access to financial stability programs; examine intersecting issues leading to disparities and serving as barriers to financial empowerment; and explore programmatic and systemic investments to further financial stability work. Each partner will release a blueprint highlighting their actionable strategies; as examples, please review blueprints from Cincinnati, Newark, Norfolk and Sacramento.
Grantees will receive funding of $100,000, and significant technical assistance to develop an actionable blueprint outlining financial empowerment strategies (such as financial education and counseling; asset building; access to banking; and consumer protection) and opportunities for broader systems investments to further equitable financial stability. Grantees will develop a customized release strategy and publicly launch their blueprint.
Cities or counties with 50,000 or more residents are eligible to apply, with preference given to cities and counties interested in focusing their CityStart engagement on historically disadvantaged neighborhoods or communities in high-poverty areas. This engagement is ideal for cities and counties seeking to prioritize resident financial stability needs, informed by stakeholder and resident input, and committed to featuring government-led approaches in the blueprints.
The Cities for Financial Empowerment Fund (CFE Fund) is requesting applications for the next cohort of Financial Empowerment Cities. Selected local governments (city/county) will receive $170,000 in grant funding, plus extensive training and technical assistance over two years, to create and publicly launch an Office of Financial Empowerment (OFE) that institutionalizes and amplifies local financial empowerment efforts. In a time of economic and federal uncertainty, an OFE provides a concrete, tangible way for governments to respond to resident need and strengthen financial stability. Financial Empowerment Cities grantees will recruit a dedicated, full-time staff member who will not only lead this work locally but also join other leaders across the nation advancing the municipal financial empowerment field.