Saint Paul Office of Financial Empowerment Announces Departure of Director Muneer Karcher-Ramos

Saint Paul Office of Financial Empowerment 
Announces Departure of Director Muneer Karcher-Ramos

CollegeBound Saint Paul Program Manager Ikram Koliso to Serve as Interim Director

SAINT PAUL, MN – Today, the Saint Paul Office of Financial Empowerment (OFE) announced the departure of Muneer Karcher-Ramos from his role as Director, effective March 1, 2024. Ikram Koliso, who oversees the CollegeBound Saint Paul program, will serve as the Interim Director during the transition of leadership.

“Muneer's exceptional leadership has made a lasting impact on our city, enhancing economic mobility and creating opportunities for community wealth building among our residents,” said Mayor Carter. “Under his guidance, we introduced transformative and nationally-acclaimed initiatives, such as CollegeBound Saint Paul and innovative guaranteed income projects. We are profoundly grateful for his work and extend our best wishes for success in his next chapter.”

"I am filled with pride in the accomplishments we’ve achieved together to support our residents,” said Director Karcher-Ramos. “The ground-breaking programs we’ve developed would not have been possible without our community's collaborative spirit. I express my deepest appreciation to those who contributed to our shared success.”

Karcher-Ramos has led OFE since its creation in March 2019. Under his direction, the department has achieved significant milestones in advancing economic mobility and community wealth building initiatives in Saint Paul. Some of the notable accomplishments during his tenure include:

• Launching CollegeBound Saint Paul, which has enrolled 13,000 babies and accumulated over $3 million in college savings within its first four years;
  
   
• Implementing multiple guaranteed income demonstration projects, including the city-run People’s Prosperity Pilot (PPP) aimed at mitigating the impacts of the pandemic economy;
  
   
• Introducing CollegeBound Boost, an expansion of PPP, which combines guaranteed income and children’s college savings accounts;
  
   
• Spearheading the Medical Debt Reset Initiative, poised to alleviate $110 million in medical debt for Saint Paul residents; and
  
   
• Establishing the $2.5 million LOCAL Fund, supporting community wealth building through bolstering worker cooperatives and shared ownership of commercial real estate.

Koliso, a former staffer in the Mayor's Office and the Program Manager of CollegeBound Saint Paul since OFE's inception, will step in as the Interim Director. Koliso has been instrumental in the development and success of CollegeBound Saint Paul, transforming it into a national leading children’s asset building program.

"I am honored to step into the role of Interim Director during this crucial transition,” Koliso said. “Having been a part of OFE since its inception, I am committed to ensuring a seamless transition of leadership and continuing the impactful work our department has led.”

The community engagement process to select the next OFE Director will be announced in the spring. 

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