A new resource aimed at strengthening financial stability for residents across the Roaring Fork and Colorado River valleys officially opened Thursday in Glenwood Springs.

The Financial Empowerment Center of the Rockies, the first rural financial empowerment center in the nation, according to a news release, celebrated its grand opening Thursday at Morgridge Commons in Glenwood Springs. . It provides free, bilingual financial coaching to residents of Garfield, Eagle, and Pitkin counties, helping people reduce debt, build credit, and gain financial security.

“This is a game-changer,” said Barbara Freeman, founder and CEO of the Savings Collaborative, which helped launch the center. “By providing financial coaching at no cost to our residents, we aim to build greater financial stability in our beautiful region.”

The center is the result of years of collaboration between the three counties, the Savings Collaborative, and the Cities for Financial Empowerment Fund. It follows a model proven successful in urban areas but is uniquely designed to serve rural communities, where access to financial services can be limited.

A regional effort

Eagle County Assistant Manager Regina O’Brien said the center aligns with the county’s long-term goals of creating a thriving, sustainable community.

“The Financial Empowerment Center of the Rockies is a shining example of these principles in action,” O’Brien said. “By providing no-cost, professional, one-on-one financial counseling, this organization is helping individuals and families gain the knowledge, tools, and confidence they need to build a brighter future.”

Pitkin County Commissioner Kelly McNicholas Kury pointed to growing income disparities in the region and how financial stability remains out of reach for many.

“The pandemic really brought into even more focus how these disparities hit people at home,” McNicholas Kury said. “A tool like this is going to be really important for being able to close those gaps.”

Pitkin County Deputy Director of Human Services Sam Landercasper, who played a key role in launching the center, said the need for financial support is real despite the area’s reputation as a wealthy resort region.

“There’s this stigma that Aspen and Vail are places where everyone is rich, and everything is fine,” Landercasper said. “The reality is we have a whole different set of problems brought about by the high cost of living. This center brings recognition to that and provides real solutions.”

The center’s services will be especially valuable to those who fall into what Landercasper called the “living wage gap” — residents who don’t qualify for traditional assistance programs but still struggle to afford basic expenses.

“This is just something that I think these services, in particular, especially at this point in time, are going to be so impactful for people,” Landercasper said. “We’re hoping this is going to be a service, since it’s free, that they are able to access, and it’s gonna be really helpful for them to help build credit, build savings.”

Statewide and national recognition

The project has also drawn support from state and national leaders, including Colorado Gov. Jared Polis, who sent a recorded message congratulating those involved.

“Congratulations to the FEC of the Rockies on this exciting milestone, opening our country’s first rural regional Financial Empowerment Center,” Polis said. “As governor, I’m focused on saving Coloradans money and expanding opportunity and prosperity for everyone, and this new hub connects Coloradans to valuable financial resources, building on our work to help Coloradans hold on to more of our hard-earned money.”

Carmina Lass, director of the Colorado Office of Financial Empowerment, said the center will be instrumental in helping residents gain long-term financial stability.

“Our goal is to support financial coaching and counseling professionals in doing this work with excellence and to connect more Coloradans with the tools and resources they need to build financial security and generational wealth,” Lass said.

Freeman said seeing the project come to life after years of work was an emotional moment.

“Today is the official hard launch, which means everyone can now have access to this,” Freeman said. “We have built something that will truly change lives.”

The Financial Empowerment Center of the Rockies is now open to residents, offering free financial coaching as a public service to help individuals and families secure their financial futures. Those interested can visit fecrockies.org.