New York City to Support Financial Education Centers
New York City Mayor Michael Bloomberg announced in his January 19, 2011, State of the City Address that public funding will be allocated to support the Financial Empowerment Centers. Bloomberg said, "At the same time, we'll help more New Yorkers stay self-sufficient, by taking a privately funded pilot program - the one-on-one counseling at our Financial Empowerment Centers - and use public funds to expand those critical services, which will help more residents eliminate their debt and increase their savings."
The Financial Clinic, the Queens Financial Empowerment Center provider, has enabled citizens of the borough to make immense strides in their financial lives, accumulating savings often for the first time while overcoming debt that crippled their opportunity to advance financially. Since inception, the Clinic’s Financial Empowerment Center have helped nearly 2000 New Yorkers reduce more than $500,000 in debt and accumulate over $170,000 in savings. The Center for Financial Security is proud to partner with the Mayor's Office of Financial Empowerment (http://www.nyc.gov/html/ofe/html/home/home.shtml) through research supported by the Social Security Administration Financial Literacy Research Consortium.
