OFE is committed to researching the financial services sector and the behaviors of New Yorkers with low and moderate incomes to understand better the challenges workers face and the impact of efforts to assist them. OFE's Evaluation and Analysis Team will be producing a variety of publications based on primary research and secondary data analysis, dissemination of promising practices in asset building and financial education, and evaluation of current programs.
$aveNYC Account: Innovation in Asset Building
The research brief is an evaluation of the first-year results of the City's $aveNYC Account Program pilot, which found that, contrary to commonly held beliefs, individuals with low and very low incomes can and will save when given simple and safe banking products.
Download the report (in PDF)
Neighborhood Financial Services Study
The Neighborhood Financial Services Study examines residents' attitudes and behaviors related to basic banking services, savings, and credit, and the role of financial education in two New York City neighborhoods: Jamaica, Queens and Melrose, Bronx. The purpose of the study is to understand better the banking dynamics in low-income neighborhoods to identify public and private opportunities for long-term,
high-impact financial empowerment initiatives.
Download Executive Summary (in PDF)
Download Full Report (in PDF)
