Pittsburgh selected to participate in National League of Cities' project
Pittsburgh is one of eight cities that has been competitively selected to participate in its The National League of Cities’ Financial Inclusion Systems and City Leadership (FISCL) project.
Mayor William Peduto will join with his colleagues from the seven other selected cities for a Mayors’ Institute on Financial Inclusion in April. The Mayors’ Institute will give the mayors and their advisors an opportunity to engage with national experts and peers to develop practical solutions to local challenges and take advantage of new and existing opportunities to help residents gain a solid financial foothold.
The Mayors’ Institute is part of FISCL, a two-year project supported by MetLife Foundation and designed to help cities build sustainable city-wide systems that improve residents’ financial health and stability. By participating in FISCL, mayors and other city leaders in Pittsburgh will increase their capacity to develop initiatives that help families expand access to safe and affordable financial services and financial education, accumulate savings, reduce debt and build assets.
“While many cities across the country are experiencing economic recovery and growth, this prosperity has not reached residents across all rungs of the economic ladder,” said NLC President Melodee Colbert-Kean, councilmember and former mayor, Joplin, Mo. “This project will give mayors a unique opportunity to implement and strengthen innovative strategies to address the financial challenges many residents face on a daily basis.”
In addition to the Mayors’ Institute, NLC’s FISCL initiative will support Pittsburgh’s efforts to improve the financial stability of families through ongoing technical assistance, opportunities to apply for grant funds to support local financial inclusion efforts and numerous opportunities for peer learning and exchange. Pittsburgh will also have an opportunity to showcase its local strategies at NLC’s National Summit on Financial Inclusion, a convening of cities across the country that will take place in early 2017.
Community Partners for this effort include Neighborhood Allies, Neighborworks, the United Way and BankOn.
“We want to connect more families to economic opportunity in Pittsburgh, and this project helps us help our families to build systems of inclusion and financial capabilities. We are thrilled to be a part of this opportunity and are grateful for the partnerships that will help make this effort successful,” Mayor Peduto said.
This project builds upon NLC’s successful partnership with MetLife Foundation. In 2014, with MetLife Foundation’s support, NLC conducted in-depth research on financial inclusion programs in cities across the U.S. which informed the design of the project and which culminated in the comprehensive report, City Financial Inclusion Efforts: A National Overview. This report highlights the growing commitment of city leaders to address their residents’ financial inclusion challenges.
The other cities chosen were: Boston; Dubuque, Iowa; Durham, North Carolina; Hattiesburg, Mississippi; Lansing, Michigan; Philadelphia; and, St. Petersburg, Florida.