3 happy Black older ladies giving each other a hug

Welcome to our Resource Center

Our resource hub connects you to free or reduced-cost support for basic needs such as food, housing, clothing, job training, and more.

Information here will help you answer questions such as: How do I start saving? Do I have enough for retirement? Where can I get a MetroCard discount?

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FINANCIAL COUNSELING WORKBOOK

RESOURCE LINKS

Access free E-Books on financial literacy and other topics online here

  SAY "NO" TO

  PAYDAY LOANS

A payday loan is a relatively small, high-cost, and interest loan, typically due in two weeks and made with a borrower’s post-dated check or access to the borrower’s bank account as collateral.

Payday loans are designed to trap borrowers in debt
Annual percentage rates on payday loans are extremely high, typically around 400% +
If the lender deposits a repayment check and there are insufficient funds, the borrower is
Hit with even more fees
don’t submit loan information to the credit bureaus

Payday loans are illegal in New York State. It is a violation of New York State to make payday loans in person, by telephone, or over the Internet. It is also illegal for a debt collector to collect, or attempt to collect, on a payday loan in New York State.

  SAY "NO" TO

  TAX REFUND ANTICIPATION LOANS

Some tax return preparers offer what they call “instant” or “fast money refunds”. These refunds are actually borrowed against the amount of your anticipated refund.

Includes high fees and high-interest rates
Must be repaid even though the borrower does not get a refund or the refund is smaller than anticipated

Need assistance paying bills

Ask your creditors for more time (find out what they charge for late payments and interest rates since may be lower than what you might up paying for a payday loan)
Work with the community development credit unions, which may provide small-dollar affordable loans to eligible members

SAVE! SAVE! SAVE!

Utilize Credit Union Share & Holiday Club Accounts to Achieve Your Goals. A recent survey by The Hartford insurance company found that 39% of respondents said they have less than $1,000 in savings or no savings at all. Women respondents, lower-wage respondents, and Black respondents are more likely to have less saved. Furthermore, more than half of the respondents indicated that they live paycheck to paycheck, which is contributing to not only financial stress, but also negative impacts on mental health!

Make a habit of regularly putting money in your Share and Holiday Club accounts throughout the year. Leave the funds in your accounts until you meet your savings goals. This will ensure that you have funds on hand to make important purchases, respond to emergencies or perhaps to buy gifts. This will help you avoid running up credit card balances and paying exorbitant interest rates. Your funds will earn interest at a very competitive rate. Every dollar adds up!

SCAM SCHOOL

Be on the lookout for financial scams. Sad to say, but there are people out there who want to separate you from your money. There are romance scams, gift card scams, work-from-home scams and many, many others.

Knowledge is power! The more you know about fraudsters and scams, the better you can protect yourself.

AARP sponsors a podcast called “The Perfect Scam” that details known scams and provides tips on how to protect yourself. The stories are told from the victims’ perspectives. It is an invaluable resource. Subscribe wherever you get your podcasts.

Beware of Phishing Emails & Texts

Phishing is when criminals trick individuals by creating and sending fake emails or text messages that appear to be from a real business. Safeguard yourself and do not share your personal financial information in an email or text.