The Problem: The financial system is not designed to serve everyone equally.
Many of the financial challenges San Franciscans face are not the result of poor decisions. Research from the San Francisco Office of Financial Empowerment documents structural and racist flaws embedded in the financial system that disproportionately harm low-income consumers and communities of color. Credit scoring tools penalize poverty. Account screening systems can lock people out of banking for years based on overdrafts or even bank errors. Affordable credit is hardest to access precisely when emergencies hit.
Consider a common example: many low-income San Franciscans rely on overdraft as an unofficial line of credit because they have no access to cheaper borrowing. The result is a cycle of expensive fees that compound already difficult financial situations, while consumers with more resources use credit cards at a fraction of the cost. This is a structural problem, not an individual failure.
A financial counselor understands all of this. They know how the system works, where the barriers are, and how to help you find the best path forward.
What Financial Counseling Does: A counselor navigates the system with you.
- They know what is available. San Francisco has resources most people do not know about: bank accounts with no fees or minimum balances, credit-building products at local credit unions, and City programs that can relieve debt you may think you are stuck with. A counselor knows what is available and how to get you access.
- They advocate for you. Counselors review your credit report and dispute errors. They negotiate with debt collectors. They write letters of support to landlords. This is hands-on assistance, not just advice.
- You set the agenda. Appointments focus on what you want to accomplish. The counselor’s job is to lay out your options, make sure you know your rights, and support you in making the decision that is right for your life.
Is This For Me: If any of this sounds familiar, this program is for you.
- You have debt you are not sure how to get out from under.
- You have no credit score, or a score that has been damaged.
- You have been turned away from a bank account before.
- You are looking for housing and worried your credit will get in the way.
- You are starting a new job and want to build a financial foundation.
- You have never talked to anyone about your finances and do not know where to start.
You do not need to be in a financial crisis to benefit. Many clients come in to get ahead, not just to manage an emergency. Whatever your starting point, a counselor meets you there.
How This Program Started:
In 2013, a San Francisco family experiencing homelessness won the lottery for a below-market-rate apartment. Their chance at stable housing nearly fell through when their credit score came in 29 points short of the building’s minimum. City employees raised funds to pay off their debt, negotiated an extension on the application, and drafted letters of support. The property management company still would not change its requirements. Only when a City Hall staff member personally co-signed the lease could the family secure the apartment.
That story moved Treasurer José Cisneros to act. He recognized that without free, high-quality financial counseling integrated into City services, too many San Franciscans would face the same wall. Our financial counseling program launched in 2015.
Ready to Get Started?
Free financial counseling is available now. Make an appointment and bring your questions. There is no wrong place to start.