City of Rochester Financial Empowerment Center Receives $100,000 Grant from KeyBank
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~ Mayor Malik D. Evans of Rochester, New York, announced today the receipt of a $100,000 grant from KeyBank to support the City's Office of Financial Empowerment's FEC ("Financial Empowerment Center") program. The funding will allow the FEC to expand its efforts to promote homeownership for low-income families, support small businesses, and serve more individuals from the re-entry population.

Mayor Evans expressed his gratitude for KeyBank's generous financial gift that will help citizens learn how to establish good credit, pay down debt, utilize safe banking, and increase their savings. He noted that the FEC program is an empowering asset for families and entrepreneurs that equalizes opportunities by providing the necessary financial tools to build a brighter future and improve quality of life.

Phil Muscato, KeyBank Rochester Market President said that KeyBank is pleased to support the important work that the Rochester Financial Empowerment Center does to promote homeownership, support small businesses, and promote economic inclusion. He added that all of them at KeyBank are excited to partner with the City to drive investment in and bring opportunity to the greater Rochester community.

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The FEC provides free professional one-on-one financial counseling services to help individuals and families with low-to-moderate incomes manage their finances, pay down debt, increase savings, establish and build credit and access safe and affordable mainstream banking products. Since its launch in February 2020, it has served more than 2,300 clients who have cumulatively increased their savings by over $1.6 million and reduced their non-mortgage debt by more than $2.2 million.

The program model integrates financial counseling into other social services such as housing and foreclosure prevention, workforce development or prisoner reentry. It partners with a range of local agencies and community organizations including Foodlink, Ibero American Action League Inc., Rochester Housing Authority OACES Monroe Community College Monroe County Department of Human Services among others. The counselors are professionally trained and certified by National Foundation for Credit Counseling (NFCC). To schedule an appointment contact Rochester Financial Empowerment Center by calling (585)-252-7110 or sending an email to RochesterFEC@cccsofrochester.org

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