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CWCID served a record 3,000 people in 2008 through financial education programs at 40 sites across New York City. Throughout the year, CWCID continued to see impressive program results. A year after finishing our program, more than half of our graduates increased their credit scores. The average credit score increase was 200 points and average debt reduction was $12,000.
The year culminated with New York City's Office of Financial Empowerment inviting Justine Zinkin to represent the city as a featured speaker at the Cities for Financial Empowerment (CFE) Coalition's national conference in Savannah, Georgia. CFE is a national coalition of municipal governments committed to financial education. Ms. Zinkin spoke to government and nonprofit leaders from around the country on the importance of taking financial education programs to scale, and CWCID's unique approach.
The year ahead will bring financial challenges. It will be a time when the most vulnerable New Yorkers have the greatest need for financial education. CWCID is putting its expertise to work to ensure that the communities we serve have access to high quality financial education services. We will be in touch in the coming months with updates on our work to address the financial crisis in neighborhoods across New York City.
Credit Where Credit Is Due empowers low-income people to become productive participants in the mainstream economy through a unique model that works. We deliver financial education programs in partnership with leading nonprofit and government agencies across New York City. And we offer these services in tandem with access to safe, affordable financial services at Neighborhood Trust Federal Credit Union, the community development credit union that we chartered in 1997, and a network of CDCUs around the city. February 12, 2009
CWCID Board of Directors Ben Appen, Chair Partner Magnitude Capital
Diane Callan Senior Vice President TD Bank USA, N.A.
Kirsten Frivold Vice President Goldman Sachs & Co.
Ben Levin, Treasurer and Secretary Managing Partner Insight Venture Partners
Matthew Rhodes-Kropf Professor Harvard Business School
José Tavarez Managing Director Merrill Lynch
Justine Zinkin Executive Director CWCID/NTFCU
For more information, please visit www.cwcid.org or contact:
Lauren Andrews Development Director (212) 927-5771, ext. 216
Justine Zinkin Executive Director (212) 927-5771, ext. 213 |
4211 Broadway, New York, NY 10033 • Phone (212) 927-5771 • Fax (212) 543-9120 Copyright 2009 Credit Where Credit Is Due, Inc. All rights reserved. |
