Financial Empowerment Center sees success in first year

ROANOKE, Va. (WDBJ) – What began as a part of the frontline response to the COVID-19 pandemic has now helped practically 400 folks take management of their funds.

Roanoke Metropolis’s Monetary Empowerment Heart had its grand opening again in July of 2020. Since then, this system has held greater than 700 free monetary counseling classes.

The FEC is a partnership with Freedom First Enterprises, providing free counseling companies to assist locals scale back their debt, construct their credit score and learn to meet their monetary targets.

“We’re virtually at $20,000 of elevated financial savings throughout the inhabitants that has been served,” says Brandon McGinley, Monetary Stability Specialist with Roanoke Metropolis’s Division of Financial Improvement. “In addition to different milestones, one thing so simple as dozens of individuals are working to create a finances, maybe, or people who’ve had the prospect to extend their credit score rating over the course of their counseling by an quantity that’s vital for them to make a distinction of their lives.”

Keri Garnett, the supervisor of the Monetary Empowerment Heart, has labored with purchasers who weren’t in a position to put a down fee on a house round this time final yr, however are actually shifting in because of the financial savings plan they labored on with a counselor.

“In the event that they’ve misplaced a job as a consequence of COVID or possibly they’re simply going by means of a distinct transition of their life, generally it simply helps to get organized they usually want somebody to assist information them in the proper path,” says Garnett.

The FEC in Roanoke is obtainable to satisfy with purchasers just about and schedule in-person appointments by means of their website.

Copyright 2021 WDBJ. All rights reserved.

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