Over 20 Years of Impactful Work
Financial Education of Minnesota began in 2004 as “Consumer Credit of Minnesota,” with Co-Founders Kent Johnson and MN State Senator John Hoffman originally offering credit counseling and debt management services.
As the organization grew through the years, Johnson and Hoffman identified a broader need for statewide financial proficiency. In 2020, the organization changed its name and exited the debt management industry, shifting its focus to systemic change through education.
Through a longstanding contract with the Minnesota Department of Corrections, FEMN developed the “Pay, Save, Spend” Rule to provide financial education to inmates transitioning out of the system.
Today, having served thousands of people, FEMN is now working to expand our curriculum, programs, and partnerships to better serve the needs of individuals and families across Minnesota.
Our Impact
Since 2004, Financial Education of Minnesota has provided free financial education seminars and workshops to schools and colleges, civic and community organizations, churches, and many other groups.
Through the years, we have provided financial education sessions to more than 20,000 clients.
In 2025, we served approximately 3,720 clients.
As a result of these sessions, our clients’ overall knowledge of the subject increased by 46%.
Our clients are primarily low-income and/or justice-involved individuals.
Approximately 60% of our clients are unbanked.
Board
Financial Education of Minnesota is guided by a board that brings together experience in public service, financial education, business, and community leadership. We share a commitment to helping Minnesotans gain the knowledge and confidence to manage their money and build financial security.
Jim Rhodes, Chair, is a former Minnesota state representative who served from 1993 to 2004. His experience includes service on the St. Louis Park School Board, government relations, and nonprofit credit counseling.
Senator John Hoffman, Vice Chair, represents Minnesota Senate District 34 and chairs the Senate Human Services Committee. He brings experience in public policy, community partnerships, and advocacy for people with disabilities, older adults, and families.
RayeAnn Hoffman, Board Member and Secretary/Treasurer, brings experience in nonprofit leadership and helping individuals and families address budgeting, credit, and debt concerns.
Dick Fisher, Board Member, brings a background in online marketing and experience with Consumer Credit of Minnesota, supporting the board’s work to connect people with financial education and resources.
Joan Molenaar, Board Member, is a former Champlin City Council member whose background includes community involvement and work supporting youth and families.