Supporting Financial Empowerment: DFPI Opens New CalMoneySmart Grant Application Period

What You Need to Know: $3.2 million dollars in grant funding is available to help organizations provide free financial education and empowerment programs to Californians.

SACRAMENTO - The California Department of Financial Protection and Innovation (DFPI) announced that $3.2 million in grants is available through the 2026-2028 CalMoneySmart program for nonprofit organizations that provide free financial empowerment services to California residents.

To be eligible to receive a grant, an applicant must be a nonprofit organization with good standing in California. Grant funds may only be used for:

• Free financial education and empowerment content (classroom or web-based) to help consumers access lower-cost financial products and services, establish or improve their credit, increase savings, or reduce debt.
• Free individualized financial coaching.
• Free financial products or services intended to help consumers establish or improve credit, increase savings, or lower their debt.

The maximum amount that can be awarded to a grantee each fiscal year is $200,000. The deadline to apply for a grant is April 27, 2026.

Now in its sixth year, the CalMoneySmart program was established in 2019 when Governor Gavin Newsom signed Senate Bill 455 (Bradford) to support community-based organizations that provide free financial education and empowerment programs to the most vulnerable unbanked and underbanked consumers.

Since its inception, CalMoneySmart has awarded:

• Approximately $11 million to 44 nonprofit organizations collectively serving 35 counties statewide.
• Free services to more than 60,000 individuals, including financial education, financial counseling, and access to financial products.

Annual reports from previous funding cycles and other resources are available on the DFPI's CalMoneySmart webpage.

For questions or assistance, applicants may contact [email protected].

The Department of Financial Protection and Innovation protects consumers, regulates financial services, and fosters responsible innovation. DFPI protects consumers by establishing and enforcing financial regulations that promote transparency and accountability. We empower all Californians to access a fair and equitable financial marketplace through education and by helping to prevent potential risks, fraud, and abuse. Learn more at dfpi.ca.gov.