The Office of Financial Empowerment (OFE) was created to help residents and families gain financial security and achieve economic mobility. The OFE convenes stakeholders – like banks, non-profits, and financial educators – and develops programs with them to create new financial empowerment initiatives and embed tools into existing initiatives.

Launched in 2023, the OFE joins dozens of other municipal offices across the country dedicated to advancing economic mobility for our residents. Municipally-led financial empowerment initiatives are growing across the country. Cities and Counties are focusing more and more on promoting financial wellness and economic mobility opportunities to their residents.

While financial empowerment can include many policies, programs, or practices that promote financial wellness, there are three major pillars of the work:

1. Access to safe and affordable banking
2. Financial Education & Counseling
3. Business and Asset Development for Small Businesses (Resource Navigation Assistance)

The Office of Financial Empowerment advances financial empowerment initiatives that promote access to safe & affordable banking, financial education and counseling, asset building, and consumer financial protection.
Through 2026, we have focused our efforts to financially empower youth, entrepreneurs, and Low to Moderate Income (LMI) renters.
The OFE serves as a: 

• Convener of City and community stakeholders to integrate financial empowerment into existing initiatives by identifying resources and filling gaps 
• Content expert on financial empowerment tools, amplifying insights and best practices and delivering them to Rochester residents 
• Innovator, creating powerful programming in partnership with community stakeholders 
• Advocate, supporting community advocacy efforts for financially empowering policies