Opportunity NYC Bank Account - Office of Financial Empowerment

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	Access to safe and reasonably priced financial services is an important building block to financial empowerment. OFE is committed to helping New Yorkers gain access to banks and credit unions so they can keep their money safe, build savings, stick to a budget, and establish good credit. For this reason, Mayor Bloomberg's Center for Economic Opportunity turned to OFE to create the Opportunity NYC bank account. The Opportunity NYC bank account helps New Yorkers who have never opened an account before get "banked." OFE collaborated with eight banks and credit unions to offer the Opportunity NYC starter account. There is a $50 incentive for Opportunity NYC participants to open the account, which provides easy and safe access to deposited funds. The Opportunity NYC bank account does not require a minimum opening balance or charge monthly fees. More than 70% of program participants chose to open an Opportunity NYC account. OFE is now working to help other cities offer this type of program. Read press release Watch video in broad band or dial-up Opportunity NYC is a program generously supported by the Mayor's Fund to Advance New York City.