This report is a three-year evaluation of the Financial Empowerment Center initiative’s replication in 5 cities (Denver, CO; Lansing, MI; Nashville, TN; Philadelphia, PA; and San Antonio, TX). The evaluation draws on data from 22,000 clients who participated in 57,000 counseling sessions across these first 5 city replication partners, and provides powerful evidence of the program’s success. Read an executive summary of the report here.

As further evidence of the program’s success, evaluation findings include:

• FEC clients succeeded. Overall, FEC clients reduced their debt by $22.5 million, increased their savings by $2.7 million, and nearly a quarter of unscored clients working on credit issues succeeded in establishing a credit score.
• FEC clients succeeded despite deep financial challenges. FEC clients averaged annual incomes of only about $21,000; they were twice as likely as all U.S. consumers to have a subprime credit score and half as likely to even have a credit score; nearly 23% had no health insurance; and over 60% had no savings.
• FEC clients meaningfully reduced debt. While FEC clients began counseling with an average of nearly $29,000 in debt —more than half with credit card accounts, 40% with utility debt, and 38% with student loans—over a third of clients who tried to reduce their debt succeeded, with total debt reduction at $22.5 million.
• FEC clients meaningfully built savings. FEC clients were much more likely than average US residents to have no savings, yet overall, almost a third of clients working to increase their savings succeeded, averaging $1,634 and totaling $2.7 million.
• Banking status matters. Unbanked FEC clients had a notably more difficult time achieving financial outcomes, underscoring the importance of a bank account. Compared to clients with accounts, they were less than half as likely to increase their savings, and over a third less likely to establish a new credit score, even working directly and repeatedly with a counselor in efforts to do so.
• The FEC model worked in a variety of city contexts. The evaluation documents replication success across 5 different American cities. Critical, well-replicated features of the model included programmatic emphasis on public-private partnerships, building rapport and prioritizing the clients’ goals, encouraging return sessions, and professionalism through data-driven management and professional training.