It's clear that the administration of Mayor Mike Duggan has been placing greater emphasis on its outreach efforts in Detroit's neighborhoods. Whether that's the massive Fitz Forward plan to redevelop hundreds of properties in northwest Detroit or creating an office in southwest Detroit to inform locals about relocation and job opportunities resulting from the Gordie Howe International Bridge.
And now, thanks to a grant and technical support from Bloomberg Philanthropies
and the Cities for Financial Empowerment Fund, the city will be partnering with Wayne County to help low- and moderate-income residents improve their financial situation.
The two municipalities will open up a physical location, called the Financial Empowerment Center (FEC), where residents can receive free one-on-one financial counseling. According to a press release, professionally trained counselors will help these residents manage their finances, pay down debt, establish and build credit, and more.
Bloomberg Philanthropies is investing nearly $8 million in the program.
"Local leaders know first-hand the connection between family financial stability and community financial stability," said Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund. "Mayor Duggan and the City of Detroit are joining a national movement to bring free, high-quality financial counseling as a public service to their residents; we are proud to partner with Mayor Duggan and Bloomberg Philanthropies on this critical work."
Locations for the FEC are currently being scouted.