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AGENCY TESTIMONY

NYC Financial Empowerment Centers: Free financial counseling services

0:17:58

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62 sec

Commissioner Mayuga discusses the NYC Financial Empowerment Centers and their role in providing free, one-on-one financial counseling to New Yorkers.

Centers offer confidential financial counseling at no cost to individuals
Services include budgeting, creating spending plans, opening bank accounts, and navigating loan repayment
Plans to expand to several NYC Health and Hospitals locations this year
Nearly 12,000 clients visited the centers last year, with 9,000 being first-time clients
Since opening, the centers have helped New Yorkers increase savings by about $16 million and reduce debt by over $120 million

Vilda Vera Mayuga

0:17:58

Our New York City Financial Empowerment Centers provide opportunities for New Yorkers to meet with trained counselors for one on one confidential financial counseling at no cost.

0:18:08

These counselors support individuals in reaching financial goals by establishing budgets, creating spending plans, opening safe and affordable bank accounts, and navigating loan repayment including student loan debt.

0:18:22

We are nearly as we are especially looking forward to expanding our financial empowerment centers to several NYC Health and Hospitals location this year.

0:18:32

Last year, we had almost 12,000 clients visit our centers, 9,000 of whom were first time clients.

0:18:40

As of the start of this year, our professional counselors have helped New Yorkers increase their savings by about $16,000,000 and reduce their debt by over a hundred and 20,000,000 since the opening of our centers.

0:18:53

This is just one of the many ways that our agency delivers for the working people of New York.

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