Shreveport, LA – United Way of Northwest Louisiana (UWNWLA) has received an $86,000 grant from Capital One to enhance the services provided by the Shreveport Financial Empowerment Center (SFEC). The SFEC, a collaborative initiative with the City of Shreveport, offers free one-on-one financial counseling to local residents.
The program, staffed by professionally trained and certified Financial Counselors, assists individuals and families in managing their finances, reducing debt, building savings, improving credit, and accessing safe banking options. The overarching goal is to increase economic mobility and provide residents with the tools to achieve long-term financial stability.
Serving the ALICE Population
UWNWLA’s financial stability programs focus on supporting ALICE (Asset Limited, Income Constrained, Employed) individuals and families. ALICE represents those who are employed yet struggle to afford basic necessities such as housing, food, healthcare, and transportation. According to the latest ALICE report, 56% of Northwest Louisiana’s population falls into this category.
“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,” said Rashida Dawson, Vice President of Financial Stability at UWNWLA. “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.”
Impact Since 2020
Since its launch in 2020, the SFEC has served 890 clients, helping them collectively reduce debt by $2.87 million and increase savings by $1.07 million. The program’s success has made it a critical resource for residents looking to achieve financial independence.
The SFEC also partners with Bank On Northwest Louisiana, an initiative that has opened over 7,700 checking accounts for local residents since 2013. Bank On provides essential financial education and asset-building opportunities to help individuals better manage their money and improve their financial outlook.
Looking Ahead
With the support of Capital One’s grant, UWNWLA plans to further integrate SFEC services with Bank On Northwest Louisiana, expanding its reach and impact in the community.
For more information about the Shreveport Financial Empowerment Center and its services, visit United Way NWLA.
About United Way of Northwest Louisiana
United Way of Northwest Louisiana fights for the health, education, and financial stability of every person in the community. Through a variety of programs and partnerships, UWNWLA empowers individuals and families to achieve long-term financial success and improve their quality of life.