KeyBank made a $100,000 grant to the Financial Empowerment Center (FEC), a program run by the City of Rochester.
The money will be used to boost the organization's mission to provides free, professional one-on-one financial counseling especially to marginalized populations.
Rochester Mayor, Malik Evans, said "KeyBank’s generous financial gift will go a long way in helping more Rochesteraians learn how to establish good credit, pay down debt, utilize safe banking and increase their savings."
“I am extremely grateful for KeyBank’s generous financial gift," Evans said.
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.
The program originally launched in February of 2020 and has served more than 2,300 clients. According to a City of Rochester media release, clients have collectively increased savings by over $1.6 million and reduced their non-mortgage debt by more than $2.2 million.
KeyBank Rochester Market President Phil Muscato said the bank’s purpose is to help the communities thrive.
"We are pleased to support the important work that the Rochester Financial Empowerment Center does to promote homeownership, support small businesses, and promote economic inclusion," Muscato said.
Administered by Consumer Credit Counseling Services of Rochester, the program model integrates financial counseling into other social services, such as housing and foreclosure prevention, workforce development, or prisoner reentry.
The FEC partners with a range of local agencies and community organizations including Foodlink, Ibero American Action League, Inc., the Rochester Housing Authority, OACES, Monroe Community College, the Monroe County Department of Human Services and others.
FEC counselors are professionally trained and certified by the National Foundation for Credit Counseling (NFCC). To schedule an appointment, contact the Rochester Financial Empowerment Center by calling (585)-252-7110 or sending an email to RochesterFEC@cccsofrochester.org.
For more information, visit http://www.cityofrochester.gov.