About Financial Empowerment

The New York City Housing Authority’s (NYCHA) Office of Resident Economic Empowerment and Sustainability (REES) partners can help you achieve financial security, instead of just making ends meet, through financial empowerment services. Establishing or improving assets such as emergency savings or owning a home or a small business can help you to better deal with a financial crisis such as a job loss, illness or divorce. REES collaborates with service providers throughout New York City to help NYCHA residents achieve their financial goals.

REES partners can help you learn more about:

• Financial literacy: Having financial literacy can help you find a job. Sometimes potential employers will look at your credit report before deciding whether to offer you a job. By participating in financial empowerment services offered through REES partners, NYCHA residents can fix mistakes on their credit reports and begin to re-build or establish credit, which could result in more eligible job opportunities for you.
• SNAP (food stamps): Supplemental Nutrition Assistance Program (food stamps) providers can help increase your income. REES partners can help NYCHA residents determine if they qualify for food stamps and help submit SNAP application. Food stamps can help to reduce household food expenses and free up money for savings or other needs.
• Financial counseling: Financial counseling through REES partners can help NYCHA residents reduce debt. Financial counselors can help you create a plan to pay down your debt, catch up with rent, and in some cases access emergency financial assistance. Financial counselors can also work with you to prevent your wages from being garnished for debt re-payment.

Credit unions: Credit unions can help NYCHA residents establish savings and checking accounts and much more. If you don’t have a bank account, a credit union can offer you safe, affordable financial accounts that offer greater flexibility and in most cases lower fees than traditional banks. REES has partnerships with credit unions throughout New York City that can help NYCHA residents achieve their financial goals. 

Additional Resources