Shelby County organization helps residents pay off more than $6.6 million in debt

MEMPHIS, Tenn. — Clients of the Greater Memphis Financial Empowerment Center (GMFEC) have paid off more than $6.6 million in non-mortgage debt, a milestone celebrated Wednesday, May 14, by Shelby County Trustee Regina Morrison Newman and nonprofit partner RISE Memphis.

Operated in partnership with RISE Memphis and the trustee’s office, the GMFEC aims to equip Memphians with tools to manage and eliminate debt by offering ongoing support specific to each client’s needs. Since opening six years ago, the GMFEC has provided free financial counseling to more than 2,100 Shelby County residents.

The center celebrated surpassing $6 million in debt reduction on April 15, 2025. In the final two weeks of April, clients and counselors ramped up their efforts and paid down an additional $627,119 in debt, bringing the total to $6,627,119 by the last day of the month.

“The trustee’s office is thrilled with the success clients have been able to achieve through counseling with the GMFEC,” said Newman, Wednesday, May 14, in a joint statement with RISE Memphis and the trustee’s office. “To see them surge past $6 million to over $6.6 million in a month is a testament to their hard work to improve their financial stability.”

RISE Memphis — which stands for “Responsibility. Initiative. Solution. Empowerment.” — is a local nonprofit organization seeking to “improve the community by providing financial literacy tools and incentives to help families build assets and make better financial choices,” the statement said.

The GMFEC has played a consistent role in the County’s efforts to lift residents past financial struggles caused by the COVID-19 pandemic or other circumstances, according to the organization’s release.

 “This $6 million debt reduction milestone reflects our shared vision: transforming the financial well-being of hard-working, low-income families and strengthening our community,” said Malcom Rawls, president and CEO of RISE Memphis.

“Congratulations to the clients who showed determination, and to our dedicated financial counselors who walked beside them every step of the way.”