Financial Stability Centers
The first step toward a more secure financial future.
According to a January 2013 report by the Corporation for Enterprise Development, two in five Massachusetts residents are living on the edge of financial disaster. For those living at or below the poverty line, a way out can seem almost impossible. Until now.
In the communities that need help the most, United Way’s Financial Stability Centers are utilizing the latest national research and a locally proven service delivery model to achieve life-changing results. With four locations in communities facing high poverty rates, the Centers bring together a continuum of services from multiple partner organizations under one roof. Research shows that clients benefitting from this center-based approach and coaching are far more likely to achieve a major financial stability outcome such as increasing income, net worth or credit scores.
In 2013, the four Centers will provide intensive services to over 1,200 people throughout Greater Boston, with more than half making progress toward economic stability as evidenced by increased net income, increased net worth or improved credit scores. In addition, more than 2,250 people will receive free tax preparation help. This is expected to return more than $3 million in tax refunds and $1.6 million in Earned Income Tax Credit benefits to these communities.