Local initiatives giving individuals opportunity for financial stability

Communities across the country are undertaking efforts to help individuals and families reach financial self-sufficiency.

Such financial empowerment efforts are bringing together key stakeholders to provide greater access to financial education, income-boosting supports and tax credits, financial products and services, savings tools and consumer protections.

Through the Cities for Financial Empowerment Coalition communities are connecting individuals with tools for managing financial distress, credit repair and counseling and financial products and services. In Michigan, the Community Economic Development of Michigan (CEDAM) has launched the Michigan Communities for Financial Empowerment (MCFE).

MCFE is a network for local leaders in Michigan, providing the tools, resources and supports necessary to implement local initiatives that provide residents greater access to financial opportunity. Types of activities include "Bank On" campaigns, children's savings initiatives, financial education networks and "Show Me the Money Day" events.

The network is open to local communities across the state. For more information, contact Megan Kursik, kursik@cedam.info or 517-485-3588.

Arnold Weinfeld is Director of Strategic Initiatives and Federal Affairs for the Michigan Municipal League. He can be reached at 517-908-0304 or by e-mail.