NYCfNAC Has Moved!
We are now located at 209 E. 3rd St. in Manhattan.
Our new number is (212) 254-6060.
Tax Season 2011
Another Record Year for VITA!
In its most successful tax season to date, NYCfNAC's Volunteer Income Tax Assistance (VITA) Program provided free tax preparation, food stamp screening and enrollment, and assets building initiatives to low-income New Yorkers in East Harlem, the Lower East Side and Chinatown in Manhattan, and in the Brooklyn neighborhoods of Bedford Stuyvesant and Bushwick – some of New York City’s most underserved areas. As part of this program, NYCfNAC actively promotes the Earned Income Tax Credit (EITC)--one of the federal government’s most powerful poverty alleviation tools--to low-income residents in the communities served by our credit unions.
Since its launch in 2003, NYCfNAC’s VITA Program has:
Prepared over 47,000 tax returns worth $67.1 million in refunds;
Assisted over 14,500 low income taxpayers to receive more than $29.2 million in refunds from the EITC; and
Helped more than 3600 underbanked individuals and families to open credit union savings accounts.
The program's highlights in 2011 were:
Completing 10,714 returns worth $16,050,058 in total refunds;
Assisting 3,297 filers to receive $6.92 million in EITC:
Screening of 97% of filers for food stamps and health insurance; and
Opening 387 credit union accounts for financially underserved taxpayers.
We couldn’t have done it without our many community partners and hundreds of dedicated volunteers! A particular thanks goes to Brooklyn Cooperative, Lower East Side People's and Union Settlement Federal Credit Unions, which participated with NYCfNAC in preparing returns and opening accounts. And thanks also to Single Stop USA, New York Community Trust, Brooklyn Community Foundation, the Internal Revenue Service, the National Credit Union Administration, the U.S. Department of Health and Human Services, Capital One Foundation, the New York City Office of Financial Empowerment, the National Disability Institute and Republic Bank for their generous support!
We look forward to providing this important service again in the 2012 Tax Season!
Hayden-Harnett's $100,000 expansion financed through NYCfNAC loan program
Hayden-Harnett, a Brooklyn-based company that designs and sells handbags and accessories, needed financing to finance its expansion. With an impressive growth rate in sales, the company approached NYCfNAC about a loan. As a start-up, obtaining a loan from banks was out of the question. But the company provided a strong business plan, demonstrated management capacity, and good collateral…
Affordable Loans for Immigrants
Through its Affordable Loans for Immigrants Campaign NYCfNAC seeks to highlight the role of credit unions in giving immigrants an opportunity to build credit and educate themselves while achieving their financial goals. NYCfNAC's community development credit unions offer mainstream financial services to a population that is generally subject to predatory practices and high-cost credit. Credit union services are especially designed to help the immigrant population to build credit and become savvy consumers of financial products.
To learn more about how to participate or to order the Campaign Outreach Materials, contact Vianey Corzo at 212-254-6060 ext. 109 or vcorzo [at] nycfnac.org
The Affordable Loans for Immigrants Campaign is part of NYCfNAC's Initiative for Outreach to the Unbanked or IOU Program.
$$$ to Jumpstart and Grow your Business?
offers business loans ranging from $5,000 to $350,000. Loan
proceeds may be used for short-term or long-term working capital
requirements, equipment and other fixed asset acquisition or
construction and renovation of business facilities. If your
business is located in Manhattan, Brooklyn or the Bronx and
needs additional funds, we may be able to help you. For more
information, check out the Business
Loan page or contact Peter Bray at (212) 254-6060 ext. 100
or email at firstname.lastname@example.org.
Check under Job
Opportunities to find out more about the
positions currently open at NYCfNAC.