The City of Philadelphia and the nonprofit credit counseling agencyClarifi have been awarded a major grant through Bloomberg Philanthropies and Living Cities’ Cities for Financial Empowerment Fund to open six Financial Empowerment Centers in Philadelphia.
The Centers will help individuals and families establish bank accounts, improve their credit, reduce debt and serve as a key tool in the effort to build a pathway out of poverty for families in need in Philadelphia.
“As a provider of financial counseling to over 600,000 local individuals for 47 years, Clarifi is committed and excited to expand its resources to support the Financial Empowerment Center initiative. We look forward to implementing this highly successful model of one-on-one financial counseling to help more Philadelphians save and reduce debt,” says Patty Hasson, President and Executive Director of Clarifi.
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 Centers will open in the spring of 2013 and intend to provide free financial counseling to 9,000 people over three years.
For the latest updates on Philadelphia’s Financial Empowerment Centers, visit here.