By Staff –
Mayor Stephanie Miner has announced the city will receive a $20,000 grant from the Cities for Financial Empowerment (CFE) Fund and Bloomberg Philanthropies to develop and integrate a Financial Empowerment Center to help residents better manage their personal finances, and to lift families out of systemic poverty.
“The struggle to end systemic poverty must include teaching families how to manage their finances, stay out of overwhelming debt, and build savings,” Mayor Miner said. “I look forward to the creation of a Financial Empowerment Center to compliment work already being done by government and nonprofit agencies working to alleviate poverty in Syracuse. I appreciate the support of the CFE Fund and Bloomberg Philanthropies in making resources available to address this issue.”
Earlier this year, the city also received a $20,000 planning grant from the CFE Fund to study the personal financial needs of Syracuse residents.
The $20,000 grant for the second phase will determine what a Financial Empowerment Center would look like when created: partnerships that will be needed, how it will be staffed, and the availability of sustainable funding streams, the city said.
Visit www.cfefund.org for additional information regarding the CFE Fund.