With the Gaithersburg FEC, professionally trained financial counselors help individuals and families manage their finances, pay down debt, increase savings, establish and build credit, improve their credit score, 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, benefits access, domestic violence services, and more. The Gaithersburg FEC is a partnership with Housing Initiative Partnership (HIP), a local nonprofit housing developer and counseling agency that contracts with the City to provide the counseling services.
“Gaithersburg is an economically diverse city,” says Mayor Jud Ashman. “This program fits our history of offering opportunities to help our residents flourish. Financial stability is good for families, good for local businesses, and good for the community.”