Free Bank Accounts (Office of Financial Empowerment)

The Office of Financial Empowerment is working to help educate low-income workers on financial education and services. They are working with financial institutions to offer no-fee bank accounts to participants of opportunity NYC. They are also working to educate workers to reduce debt and increase savings. Many workers qualify for Earned Income Tax Credit, but the cost of tax preparation reduces the benefit. This office is working to offer more free and low-cost tax preparation services for EITC eligible families. Eight banks and credit unions that are offering the Opportunity NYC accounts are Amalgamated Bank, Bethex Federal Credit Union, Brooklyn Cooperative Federal Credit Union, Carver Federal Savings Bank, Lower East Side Peoples Federal Credit Union, M&T Bank, North Fork Bank, and Union Settlement Federal Credit Union. Set for the Spring of 2008 financial counselors will be working to help education people about financial management in the Phipps Opportunity Center in the Melrose section of the Bronx. For more information contact Office of Financial Empowerment, New York City Department of Consumer Affairs, 42 Broadway, 8th floor, New York, NY 10004; 212-487-2710; http://www.nyc.gov/html/dca/html/ofe/ofe.shtml

State: New York
Age: None
Subject: Living Expenses
Type of Money: Other
Income: None
Application: None