Financial Literacy & Asset Building
NYC Office of Financial Empowerment
Residents who visit REES’s Central Office to attend an information session can sit down with a career specialist who, depending on an individual’s particular need, may refer the resident to a local Financial Empowerment Center of New York City’s Office of Financial Empowerment (OFE).
The City’s Financial Empowerment Centers can help NYCHA residents take control of their debt, improve their credit, deal with debt collection, create a budget, open a bank account, and much more. One-on-one financial counseling is provided for FREE by professional counselors in person or by phone in English, Spanish, and several other languages.
If you are interested in connecting with a Financial Empowerment Center directly, please click on this link to find a center near you: Protect Your Money Financial Independence Today (FIT)
Financial Independence Today (FIT) is a partnership between NYCHA, United Way of NYC, and the East River Development Alliance (ERDA). FIT is aimed at increasing the financial stability of NYCHA residents in Western Queens, particularly those experiencing rental arrears or with a history of rental arrears, by providing access to ERDA’s financial counseling services. FIT is available to residents of the following developments:
If you are a resident of one of these developments and are interested in participating in FIT, please visit your property management office and ask to be referred or call ERDA directly at (718) 784-0877 to make an appointment.
Financial Management and Education Program for Former Prospect Plaza Residents
Beginning in July 2011, NYCHA started a 3-year Financial Management and Education Program in coordination with two nonprofit organizations—Neighborhood Trust Financial Partners (formerly called Credit Where Credit is Due) and the Brownsville Partnership—to assist former Prospect Plaza residents to become financially positioned to return to the redeveloped Prospect Plaza and to meet reasonable screening and credit standards of the developer.
Neighborhood Trust has been assisting enrolled clients in various common financial issues and concerns such as:
- Debt Reduction: Collections, judgments, past due accounts, and more
- Credit Building: Establish, maintain, or improve your credit
- Access to Affordable Financial Service: Referrals to free accounts
- Budgeting & Savings: User friendly tools to incorporate budgeting and savings
- Seminars: Monthly educational seminars and events
If you are a former resident of Prospect Plaza and are interesting in scheduling a one on one appointment please call or visit Yuly Rodriguez:
Financial Advisor, NTFP
383 Livonia Avenue, Ground Floor
Brooklyn, NY 11212
Family Self-Sufficiency Program
The Family Self-Sufficiency Program assists recipients of NYCHA Section 8 vouchers in achieving economic independence.
The program works like this:
Under Section 8 regulations, families pay 30% of their income in rent. As the income of a family increases, its share of the rent payment increases. However, if you are an FSS participant, NYCHA puts a portion of your increased share of the rent into a savings account and continues to do so each month that your family pays a higher rent.
As your income increases, the amount paid into your savings account increases as well. When your family achieves its goal of economic self-sufficiency within the term of the five-year contract, you graduate from the program and are paid the money in your savings account.
For more information, call the REES Hotline at (718) 289-8100.
Visit ACCESS NYC, a free website where New Yorkers can screen for eligibility and get information for City, State, and Federal benefits and programs. Learn how to apply, what documents to bring, where offices are and how to get there, and even print partially completed applications. Visit ACCESS NYC online anytime, from any computer with an internet connection. Benefit Information. One Place.