Pittsburgh launching new Office of Financial Empowerment

Pittsburgh Mayor Ed Gainey’s administration is using grant funding to launch a new Office of Financial Empowerment.

“Overall, the purpose of the office is to help improve the financial resilience and well-being of residents through various financial empowerment initiatives,” Gainey spokesperson Maria Montaño said.

The office will attempt to expand access to safe and affordable credit and banking products, increase access to financial counseling services, expand community wealth-building strategies and identify policy barriers to improving financial stability, Montaño said.

Initially, the office will be staffed by one person, she said, and the city is currently looking for someone to fill the role.

The Cities for Financial Empowerment Fund Inc. issued the city $170,000 in grant funding for the new office. A local match of $120,000 will be funded through the 2022 and 2023 operating budgets.

The manager of the Office of Financial Empowerment will work with local leaders and Cities for Financial Empowerment Fund staff to establish the new office. That person will join a cohort with four others from cities across the country who similarly are launching their own offices through the 2022 cohort of Financial Empowerment Cities.

The city’s job listing for the role identifies it as a two-year, grant-funded position with an annual salary of $76,420.

Montaño said the goal is for the office to be operational within six months to a year.

Pittsburgh City Council on Tuesday unanimously approved legislation to allow the initiative to move ahead. Councilman Ricky Burgess was not present for the vote.