photo of a paper with text that reads, "Financial Literacy" with money, a book, and a calculator on a table.
REESTop Story

Resources for Financial Literacy Month

LaToya

April is National Financial Literacy Month, an opportunity for NYCHA public housing and Section 8 residents to strengthen their financial footing by exploring resources and services that can help them build stronger financial futures. 

NYCHA’s Office of Resident Economic Empowerment and Sustainability (REES) is a one-stop resource shop that connects public housing and Section 8 residents to financial empowerment services. REES collaborates with partners throughout New York City to help participants achieve their financial goals, through guidance on reviewing credit reports for errors, re-building or establishing credit, learning how to reduce debt and budget, building emergency savings, taking steps to own a home or start a business, and more. 

“REES is dedicated to administering the latest financial literacy innovations to all NYCHA residents,” said Fatima Lundy, Project Coordinator for REES. “We are very thankful for our partners who provide new methods for our residents to boost their economic standing and achieve their personal finance objectives.” 

REES has many partnerships with organizations that help residents achieve their financial goals. Since June 2022, REES has partnered with Working Credit, a non-profit organization that provides credit-building workshops and counseling to help people achieve their financial goals. Through virtual and in-person workshops and one-on-one counseling with Working Credit, NYCHA resident participants learn how credit works and develop strategies to build and maintain strong credit. Participants have increased their credit scores, reduced high-cost debt, and are moving toward more stable financial footing. 

In addition to established partnerships and programs, REES is continuing to introduce new initiatives to further support residents’ financial goals. In partnership with Pinata and Abode Alliance, REES is launching a voluntary rent reward, rent reporting, and financial health program designed to expand financial opportunity for NYCHA residents across the five boroughs. The program combines financial rewards, credit building, and financial education into a single initiative. Residents can have their on-time rent payments reported to the three credit bureaus (Experian, TransUnion, and Equifax) to help build credit, with positive-only rent payments reported (late payments are not reported). Participants can also earn reward points for on-time rent payments redeemable for items like gift cards and household goods, while accessing a financial health curriculum that covers budgeting, credit, debt management, savings strategies, and financial planning. 

As part of the program, REES is engaging residents from six developments – Gun Hill Houses, Tompkins Houses, Baruch Houses, Queensbridge North Houses, Berry Houses, and Nostrand Houses – to help shape the program and ensure it reflects residents’ needs and priorities. 

For additional resources, residents should visit REES’s website, which features a calendar of upcoming information sessions on various services and programs (the info sessions can be attended virtually or in person). 
 
You can also subscribe to the REES newsletter to get information via email about employment assistance, job training, adult education, financial counseling, and resident business development initiatives. Subscribe here, or call the REES hotline at 718-289-8100.