Community Empowerment Fund

The Community Empowerment Fund (CEF) is an ambitious and innovative student-run organization at UNC-Chapel Hill that works to provide financial stability to the homeless and those who are under- and unemployed in the Chapel Hill and Durham areas.

CEF offers micro-loans, workshops and classes, access to a wide network of financial and support services and, perhaps most importantly, one-on-one support provided by their members.

How CEF Works

Micro-loans: CEF trains volunteers to act as loan officers and mentors for borrowers. Volunteers are paired with borrowers to guide them through the process and connect them with other resources.
Safe Savings: CEF helps clients open savings accounts and offers a matching program.
Opportunity Circles: These weekly meetings offer a curriculum that covers a wide range of topics, from job searches to health.
Small Business Training: These six week sessions cover the vital skills necessary to start or expand a small business. Trainings are free and offered in Spanish and English.

CEF Growth

CEF launched their pilot project in the summer of 2009 with five borrowers. Loan recipients used their loan to start a small business, purchase a cell phone, pay for public transportation to school, put down a housing deposit and pay for the first month of rent.

Since then, CEF has shifted its focus from loans to savings. They found that members preferred to accumulate savings and would use their savings in the place of loans. CEF has partnered with a local bank and credit union to offer safe, easy savings accounts, and they work with clients to set goals and establish budgets.

CEF as a Partnership

CEF is a partnership between two student groups--the Carolina Microfinance Initiative (CMI) and Homeless Outreach Poverty Eradication (HOPE)--and the Poverty Center. CEF also collaborates with a large number of local agencies and nonprofit organizations including: