Financial Empowerment Center Now Open In Nashville
by Emily Luxen
NASHVILLE, Tenn. - A new center now open in Nashville will provide free one-on-one financial counseling to city residents.
Mayor Karl Dean cut the ribbon on the Nashville Financial Empowerment Center at the Foster Street Center on Tuesday. The center's mission is to provide residents with free access to financial counselors, and teach clients how to open safe and affordable checking accounts, establish a credit score, maintain a positive balance, decrease debt and maintain savings.
"This is not just another social program," said Nashville Mayor Karl Dean. "It's an innovative integrated professional approach to improving financial situation of Nashvillians."
The center was created through collaboration with the mayor's office and the United Way and is funded by a $2 million grant from Bloomberg Philanthropies through the Cities for Financial Empowerment Fund. Nashville is one of only five U.S. cities to receive the grant money. Under the three year grant, the city aims to help 5,000 people.
At the Foster Street Center, Casa Azafran Community Center, and several satellite locations city wide, financial councilors are ready to answer any financial questions residents have.
"When you educate someone on their finances it allows them to grow financially," said financial counselor Kathy Payne. "We are excited about this program to be the tool to take that next step."
Coordinators hope the end result is a stronger financial outlook for not only residents, but the entire city.
"We really want people to get to a point where they can not only save but build assets and then give back to the community," said Tracey Dill, with the United Way.
To make an appointment, you can call the United Way hotline at 211. The first appointments will be scheduled starting Monday. Participants will be directed to one of the two centers, or satellite offices closest to them.