DEPARTMENT: Employment and Economic Assistance
FILE TYPE: Regular Information
TITLE
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Financial Empowerment Services Update
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PURPOSE/ACTION REQUESTED
Receive an update on the Financial Empowerment Services program.
SUMMARY
Financial Empowerment Services is a divisional program for Community Services that aligns with the County Strategic Plan Goal - A great place to live. The presentation will provide a review of the work plan and accomplishments. This initiative provides financial education and counseling services that empower residents to save money, reduce debt, improve credit, manage a budget, buy a home and car, and protect assets. Strategies, enhancement of skills, and knowledge are provided to help residents meet financial goals and improve well-being.
OUTCOMES
See Attachments: Performance Outcomes 2019-2021, for more information.
Key Accomplishments in 2019-2021:
* Counseled 1,050 participants
* In 2020 developed curriculum and taught the first virtual class on "Taking Control of Your Credit" partnering with the Dakota County Libraries
* Trained 2,040 County staff, community partner staff, and County participants
o Collaborated with Dakota County Adult and the Juvenile Correction staff to provide six different classes on a variety of Financial Empowerment topics
* Three households successfully completed the homeownership track and purchased a home
* Partnerships were strengthened with Veteran's Home, Prepare and Prosper, Habitat for Humanity, East Metro Financial Network, Exodus Lending, MN Commerce Department, and other community partners
2022 Areas of Focus:
* Continue training County staff, community partner staff, and County participants expanding training to reach a more diverse audience
* Increase the number of individuals referred to one-on-one counseling
* Continue the work with Dakota County Alternative Learning Services teaching financial education to young adults
* Investigate new and expand existing software and case management s...
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