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 | University of North Carolina (UNC) Study Confirms Success of $aveNYC in Encouraging Taxpayers with Low Incomes to Save
The UNC Center for Community Capital released "The Importance of Tax Time for Building Emergency Savings: Major Findings from $aveNYC," which concluded that taxpayers with low incomes will save money when offered an incentive, an easy enrollment process, and a safe account. A matched savings program, $aveNYC has been replicated in several cities as SaveUSA. The research supports a change in federal policy to implement tax time savings match programs for filers with low incomes.
 Download Study
Read UNC press release
Learn about the SaveUSA program |
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 | NYC Media Adds “Tackle Your Debt” to Its That’s So New York Video Series
City's Financial Empowerment Center can help New Yorkers take control of their debt, deal with collectors, improve their credit and create budgets. Free, one-on-one professional financial counselors in all five boroughs have helped over 20,000 New Yorkers collectively reduce over 10 million dollars in debt.
Watch video
Find a Financial Empowerment Center near you |
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 | Harvard University Names DCA's Office of Financial Empowerment (OFE) an Innovations in American Government Award Finalist
In recognizing OFE as one of the nation’s Top 25 public sector programs, Harvard cited the Office’s work connecting New Yorkers with low incomes with financial education counseling and asset building services.
Read Harvard’s announcement
View all finalists
Learn about OFE initiatives |
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 | U.S. Treasury Department’s Ready.Save.Grow. Initiative Makes Saving Easier than Ever
Did you know that you can buy a savings bond for just $25 and other U.S. Treasury securities starting at $100? You can buy and manage these affordable, safe, and convenient investments either online or through payroll direct deposit.
Go to Ready.Save.Grow. Web site for more information
Learn about NYC Direct Deposit
Schedule a free financial counseling appointment at an NYC Financial Empowerment Center |
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 | DCA and Mayor's Office of Immigrant Affairs Release Immigrant Financial Services Study Research Brief
Study Reveals Gaps in Financial Services for Immigrant Households with Low Incomes and Identifies Opportunities for Public-Private Partnerships and Financial Institutions to Provide Financial Access
This Study is one of NYC’s first field research initiatives to look specifically at the financial needs and practices of recent immigrants in three communities: Chinese, Ecuadorian, Mexican. Among key findings: - 57% of Mexican, 35% of Ecuadorian, and 5% of Chinese participants in the Study sample did not have a bank account.
- 80% of immigrant survey participants who make less than $300 a week report having savings.
- High incidence of money transfers back to home countries represents a significant market opportunity for mainstream financial banking institutions.
The Study received generous support from Citi Community Development and The New York Community Trust.
Download Study in:
English Español (Spanish) 中文 (Chinese)
Read press release
Get free financial counseling
Open a direct deposit account |
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 | NYC Announces Partnership with Consumer Financial Protection Bureau (CFPB) and Cities for Financial Empowerment (CFE) Fund to Replicate Nationally DCA's Work in Consumer Protection and Financial Empowerment
Read City Hall press release
Watch the video announcement
Visit CFE Fund Web site |
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 | NYC Direct Deposit: The Faster, Safer, Less Expensive Payment Option for Employers and Employees
Through the NYC Direct Deposit program employers can benefit from reduced operational costs while employees get a free checking account for directly depositing their pay.
Learn more |
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 | Tax Day was April 15. However, you can still file your 2012 tax return for free.
Learn if you qualify to file your taxes for free
Read Tax Credit Fast Facts
Get important tax information for individuals and families affected by Hurricane Sandy |
