Families in poverty-fighting program get free banking

Brooklyn and city families enrolled in a program that pays them to break the cycle of poverty will also get fee-free bank accounts, Mayor Michael

EAST NEW YORK - Brooklyn and city families enrolled in a program that pays them to break the cycle of poverty will also get fee-free bank accounts, Mayor Michael Bloomberg said Wednesday.

Bloomberg's Opportunity NYC program, the first of its kind in the nation, started September 1. The initiative rewards at-risk city families with money for meeting expectations such as seeking preventative medical care and getting good grades.

The mayor announced Wednesday that participants also have access to free banking at eight financial institutions. Bloomberg said having a bank account will encourage Opportunity NYC families to save money. Families that open an account will receive $50 under the program.

The institutions include Amalgamated Bank, Bethex Federal Credit Union, Brooklyn Cooperative Federal Credit Union, Carver Federal Savings Bank, Lower East Side People's Federal Credit Union, M&T Bank, North Fork Bank and Union Settlement Federal Credit Union.

advertisement | advertise on News 12

Trending Video

VIDEO: March to help seniors apply to college 1 VIDEO: March to help seniors apply to college
Brooklyn Weekend Travel Advisory, Dec. 10-11 2 Brooklyn Weekend Travel Advisory, Dec. 10-11
3 VIDEO: Interview with friend of East NY throat slashing victim
Check out these animals up for adoption. 4 Furry Friends for 12/9 - Animals for Adoption
Some flavors offered were strawberry and tamarind. 5 Parade participants partake in snow cones

advertisement | advertise on News 12

Features

Furry Friends is a weekly segment on News Furry Friends

Furry Friends is a weekly segment on News 12 Brooklyn nightside.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE