Shreveport Receives Boost for Financial Empowerment
Exciting news for the residents of Shreveport, Louisiana! The United Way of Northwest Louisiana (UWNWLA) has recently secured a generous grant of $86,000 from Capital One. This funding aims to enhance the services offered by the Shreveport Financial Empowerment Center (SFEC), a cooperative effort with the City of Shreveport that provides invaluable financial counseling to locals.
What is the SFEC All About?
The Shreveport Financial Empowerment Center has been a beacon of hope for individuals and families looking to get a better grip on their finances. Launched in 2020, the SFEC offers free one-on-one financial counseling, courtesy of professionals who are both trained and certified in financial matters. They’re here to help clients tackle the challenges of financial management, whether it’s reducing debt, building savings, improving credit histories, or accessing safe banking options.
The ultimate aim of the SFEC is to help boost the economic mobility of the community. By providing local residents with the tools they need to achieve long-term financial stability, the SFEC is playing a vital role in improving the overall quality of life in Shreveport.
Supporting Those in Need
UWNWLA focuses its financial stability efforts on assisting those identified as ALICE—Asset Limited, Income Constrained, Employed. This term represents individuals and families who work hard but struggle to meet basic needs, including housing, food, healthcare, and transportation. According to the latest ALICE report, a staggering 56% of Northwest Louisiana’s population falls into this category, highlighting the urgent need for programs like the SFEC.
A Grateful Community
Rashida Dawson, the Vice President of Financial Stability at UWNWLA, expressed deep gratitude towards Capital One for their generous grant. “We’re so grateful to Capital One for awarding us this grant so we can continue to put local residents on the path to financial success,” she stated. “Financial stability is the key to greater economic mobility, and achieving this means not only meeting immediate needs but also creating pathways to greater independence, resilience, and quality of life.”
Impressive Results
Since its inception, the SFEC has provided crucial support to 890 clients, helping them collectively reduce their debt by an astonishing $2.87 million and increase their savings by $1.07 million. This track record of success has solidified the SFEC’s status as a critical resource for those in Shreveport aiming for financial independence.
Collaborating for Greater Impact
The SFEC is also working in partnership with Bank On Northwest Louisiana, an initiative that has successfully opened over 7,700 checking accounts for local residents since 2013. This initiative focuses on providing essential financial education and opportunities to build assets, helping more people manage their finances better and improve their overall financial outlook.
With the new grant from Capital One, UWNWLA plans to further integrate the services of SFEC with those of Bank On Northwest Louisiana, expanding their reach and enhancing their impact in the community even more.
Looking Ahead
For residents interested in learning more about the Shreveport Financial Empowerment Center and its wide range of services, they can easily find more information through the United Way of Northwest Louisiana. The support for financial counseling comes at an ideal time, aiding many in their quest for financial stability.
The future looks bright, as the SFEC continues to empower our community, paving the way for financial success, freedom, and stability.
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
