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History

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Philadelphia's Financial Empowerment Centers are generously supported by Bloomberg Philanthropies and Living Cities’ Cities for Financial Empowerment (CFE) Fund.
 
New York City Mayor Michael Bloomberg launched the Office of Financial Empowerment in late 2006 as the first local government initiative in the country with the specific mission to educate, empower, and protect individuals and families with low incomes.

On January 8, 2013, The City of Philadelphia received a $3.3 million grant from Bloomberg Philanthropies and Living Cities’ Cities for Financial Empowerment (CFE) Fund to create Financial Empowerment Centers to replicate New York City’s evidence-based model. Philadelphia is one of five U.S. cities to be awarded a grant, which will enable the City to deliver free, one-on-one financial counseling by trained professionals to low-income residents by integrating counseling into the delivery of municipal services.

The program has a proven track record of success and a measurable impact in New York, with nearly 30 Centers and trained financial counselors who have helped more than 19,000 New Yorkers reduce their debt by more than $9 million and save more than $1 million.

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