City of Racine
Financial Empowerment Center Concludes Five Years of Service to Residents
After helping hundreds of Racine residents reduce debt, build savings, and improve their financial well-being, the City of Racine’s Financial Empowerment Center (FEC) will conclude operations on June 30, 2026, as the federal funding that supported the initiative comes to an end.
Established in 2020 through a partnership with the Cities for Financial Empowerment Fund and operated locally by Housing Resources, Inc., the Financial Empowerment Center provided free, one-on-one financial counseling to Racine residents. The program was funded through the American Rescue Plan Act (ARPA) and supplemental grant resources that were designed to support communities in the years following the COVID-19 pandemic.
During its five years of service, the Financial Empowerment Center helped residents take meaningful steps toward greater financial stability. Participants worked with professional counselors to address debt, establish savings goals, improve credit, and strengthen their overall financial health.
The program achieved measurable results for Racine residents, including:
• More than $1.57 million in debt reduced
• More than $172,000 in increased savings
• 716 residents served through 2,551 counseling sessions
In addition to these outcomes, participants made progress in reducing delinquent debt, improving credit scores, establishing banking relationships, and creating stronger financial foundations for themselves and their families.
“We’re proud of what was accomplished through the Financial Empowerment Center,” said Mayor Cory Mason. “Our goal has always been to do as much good for as many residents as we can, for as long as resources allow. This program made a meaningful difference for the people it served.”
The City has notified Housing Resources, Inc. that it will not renew its contract beyond June 30, 2026. The City extends its appreciation to Housing Resources and the financial counselors who worked directly with residents throughout the life of the program.
The Financial Empowerment Center will continue serving existing participants through June 30. Staff will work with community partners to ensure an orderly transition and connect residents with other available financial resources whenever possible.
While this chapter is coming to a close, the City remains committed to supporting residents through programs and partnerships that create pathways to long-term financial stability and economic opportunity.
