Help low-income New York City residents build assets through our network of community development credit unions and gain a year of experience in the field of economic development.
New York City Financial Network Action Consortium (NYCƒNAC) is an intermediary Community Development Financial Institution (CDFI) established in 1999 to address the need of New York City’s low-income residents for affordable and comprehensive financial services and to promote their right to save, borrow, invest, acquire assets, enhance their money management skills and enter the financial mainstream. To accomplish this mission, NYCƒNAC leverages the participation of the city’s leading community development credit unions. NYCfNAC builds their capacity by providing them with operational, financial and technical assistance to develop economies of scale and support their growth in a sustainable manner. NYCƒNAC serves Brooklyn Cooperative, Lower East Side People's, Neighborhood Trust and Union Settlement Federal Credit Unions, which together have $44 million in total assets and 20,000 members.
Nationwide, 40 million households are considered unbanked or underbanked, meaning they do not have a relationship with a financial institution, or may make limited use of the formal financial sector and rely also on check cashing stores and high-fee lenders. It is estimated that 800,000 New York City residents do not use banking services.
Our team of four VISTA members will help build the capacity of the credit unions by implementing retention strategies to foster long term relationships between the credit unions and previously unbanked or underbanked individuals. Our VISTA team played a vital role this past year in helping these individuals acquire a net worth of more than $54,000 in matched funds through the acquisition of special savings accounts offered at our network of credit unions.
Consider applying if you are interested in gaining experience in the area of economic or community development.
Visit our website for more information: www.nycfnac.org
In the third year of our AmeriCorps Program, each VISTA Member will be assigned to one or two of our participating credit unions to help expand their services through the following activities: 1.) Implement retention strategies to increase credit union membership 2.) Expand partnerships with community organizations through outreach activities and events 3.) Develop marketing materials, products and services for the credit unions 4.) Promote credit union services at free tax preparation sites, local public schools and youth centers.
Bilingual Spanish/ English skills are preferred but not required.
Apply online at http://www.americorps.gov/for_individuals/choose/vista.asp
Please also submit a resume and cover letter describing why you are interested in AmeriCorps and this position, and describe your interests, experience, and skills. Email to pdavis [at] nycfnac.org.