CLARKSVILLE, TN – The City of Clarksville’s Neighborhood and Community Services Department (CNCS), in partnership with the national Cities for Financial Empowerment Fund (CFE Fund), announced it has been awarded a $150,000 implementation grant to support the launch of the City’s Financial Empowerment Center (FEC).
The Clarksville FEC will provide professional one-on-one financial counseling and coaching to help local residents build financial stability and long-term economic resilience as a free public service. At the Clarksville FEC, professionally trained FEC counselors will help individuals and families with low and moderate incomes manage their finances, pay down debt, increase savings, establish and build credit, protect assets and prepare for legacy planning, and access safe and affordable mainstream banking products.
At the core of the FEC model is the integration of counseling into other social services, such as housing and foreclosure prevention, workforce development, prisoner reentry, benefits access, domestic violence services, and more. As households continue navigating rising living costs and economic uncertainty, the Financial Empowerment Center will serve as a centralized resource connecting residents to financial guidance and pathways toward long-term self-sufficiency.
This award marks a major investment in the long-term financial stability of Clarksville residents. This initiative is strengthened through local matching support, including funding from the U.S. Department of Housing and Urban Development (HUD)’s HOME-ARP and the City’s allocation of State of Tennessee Opioid Settlement funding, reinforcing Clarksville’s commitment to addressing both immediate financial hardship and long-term economic resilience.
The Financial Empowerment Center directly aligns with Mayor Joe Pitts’ priorities of strengthening neighborhoods, supporting working families, and creating pathways toward stability and opportunity for all residents. The program also reflects the mission of Neighborhood and Community Services to revitalize neighborhoods, preserve and create affordable housing opportunities, and advocate for marginalized populations, while advancing the department’s vision of a thriving community connected through a unified network of services that ensures quality housing and financial stability for all.
The City is also working alongside community partners, nonprofit organizations, and local institutions to integrate financial counseling into existing supportive services and create a coordinated network of referrals and wraparound support.
“The Financial Empowerment Center represents an investment not only in individuals and families, but in the long-term strength of our community,” said Mayor Joe Pitts. “By providing residents with access to professional financial counseling and connecting them to meaningful support systems, we are creating pathways toward greater stability, opportunity, and self-sufficiency. This initiative reflects our continued commitment to supporting Clarksville residents and building a stronger future for our city.”
“Local leaders know first-hand the connection between family financial stability and community financial stability,” said Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund. “Mayor Pitts and the City of Clarksville are one of several dozen cities working to bring free, high-quality financial counseling as a public service to their residents; we are proud to partner with Mayor Pitts to help residents work towards a stronger financial future.”
FECs across the country have worked with over 211,000 clients, helping them reduce individual debt by over $370 million, and increasing their families’ savings by over $77 million. In addition, a CFE Fund evaluation showed that this program works even for residents with very low incomes and other complex financial challenges. The City of Clarksville is one of several dozen local governments working to launch or have already launched a local FEC initiative.
The City anticipates launching services in Fall of 2026 following the hiring and training of certified financial counselors.