What is the Office of Financial Empowerment
(OFE)? The Office of Financial Empowerment (OFE) is the first local
government initiative in the nation with a mission to educate, empower, and
protect New Yorkers with low incomes so they can build assets and make the most
of their financial resources. Toward that end, OFE seeks to increase access to
high-quality, low-cost financial education and counseling; improve access to
income-boosting tax credits; connect households to safe and affordable banking
and asset-building products and services; and enforce and improve consumer
protections to enhance financial stability. Learn more about OFE or download
NYC Department of Consumer Affairs Office of Financial Empowerment: A Progress
Report on the First Three Years, 2006–2009
How can OFE help? OFE works to educate,
empower, and protect those with low incomes in order to help them get, save, and
grow assets. Learn more about OFE
Initiatives
Where can I find a Financial Empowerment
Center? The City's free Financial Empowerment Centers offer
financial counseling and coaching. Click here to find a location near you.
What is New York City doing to tackle
poverty? New York City established the Center for Economic Opportunity to
oversee programs that tackle poverty. The Center's mission is to reduce the
number of people living in poverty in New York City through the implementation
of results-driven and innovative initiatives. Programs are aimed at reducing
poverty in three key populations throughout the City: the Working Poor, Young
Adults 16-24, and Children 0-5. By drawing from successful examples and bringing
together New York's public and private resources, the City can help foster a new
confidence in its ability to reduce poverty in a systematic and permanent
fashion. Ultimately, by reducing need, rewarding personal initiative, and
reaffirming hope, the City strives to create a future that benefits every New
Yorker.
What is the Financial Education Network
(FEN)? OFE has assembled a dynamic network of partners working to
provide high-quality financial education and develop innovative asset-building
and financial education strategies. Learn more about the Financial Education Network
What is the Earned Income Tax Credit
(EITC)? The Earned Income Tax Credit (EITC) returns federal, state,
and, in New York City, local government dollars to qualifying working families
and individuals through either a credit on taxes or as cash refunds. The refund
amount varies depending on your income and marital and parental status. Learn more about
the EITC
How can I speak with a Financial Empowerment Center
counselor? The City’s free Financial Empowerment Centers offer
one-on-one financial counseling provided by professional counselors in
person or by phone in English, Spanish, and Chinese. You can schedule an
appointment at a borough’s main Financial Empowerment Center location or a
mobile Center location. Find a Financial
Empowerment Center in your neighborhood
How can I join the Financial Education
Network? Organizations can join the Financial Education Network by
submitting an application to
the Office of Financial Empowerment. OFE will review the application and contact
you with further information.
