��ߺ�� Neighborhood Services

FDIC Features CEO Erika Toriz & ��ߺ�� Neighborhood Services' Strategy in Driving Financial Wellness with Money Smart

2025-01-16

��ߺ�� Neighborhood Services was recently featured in the FDIC’s January 2025 Money Smart Newsletter for our impactful use of the Money Smart curriculum to deliver accessible financial education in Los Angeles. Through programs like the Financial Freedom Fair and FreeTaxPrep/VITA, ��ߺ�� is helping families build credit, safeguard against scams, and navigate homeownership. Our tailored workshops in English and Spanish are creating lasting pathways to financial stability.

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Volunteer Nancy Tarr chosen as Halo Award recipient!

2025-01-08

Nancy Tarr was first introduced to ��ߺ�� Neighborhood Services through the FDIC's Alliance for Economic Inclusion meetings, where she learned about ��ߺ��'s mission to serve the community. Inspired by the alignment of values, Nancy began volunteering with ��ߺ��'s Volunteer Income Tax Assistance (VITA) Program.

Over the past two years, she has become an invaluable part of the team, dedicating over 75 hours during the 2024 tax season alone to meet the rising demand for free tax preparation services. Nancy's dedication shines through her commitment to completing the IRS volunteer certification exams annually and her advanced skills in preparing and reviewing tax returns. Her leadership, reliability, and willingness to mentor new volunteers have made her a model volunteer and a cherished asset to ��ߺ��. Click below to learn more about Nancy’s journey and the impact of her contributions!

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2023 Community Impact Report

2024-06-19

��ߺ�� Neighborhood Services is thrilled to announce that we have been featured in Enterprise Bank & Trust's 2023 Impact Report. We are so thankful for the support of community partners like Enterprise, who help us create success stories like Beverly's every single day.

��ߺ�� Neighborhood Services - featured in the June edition of Money Smart News

2024-06-10

We are excited to announce that ��ߺ�� Neighborhood Services has been featured in the June edition of Money Smart News, published by the Federal Deposit Insurance Corporation (FDIC). This newsletter highlights ��ߺ��'s important work in the community, empowering vulnerable communities through financial literacy and housing programs. Our education programs are rooted in the Money Smart curriculum, created by the FDIC, and we are proud Money Smart Alliance members!

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Bringing Financial Education to the Heart of a Los Angeles Community

2024-04-18

The U.S. Bank Magnolia Place Financial Education Center is designed to provide a welcoming environment for individuals and families with limited access to financial education and services who are looking to expand their knowledge and work toward financial stability

First Foundation Inc. Announces Nonprofit Recipients of its Supporting Our Communities' Philanthropic Initiative

2024-02-08

First Foundation Inc. (NYSE: FFWM) (“First Foundation”), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, announces the nonprofit recipients of its 'Supporting Our Communities' philanthropy initiative

At the Forefront of LA County's care-first approach: Erika Toriz

2023-04-10

For 38 years, the LA County Board of Supervisors and Commission for Women have honored women who work to bring about social change and promote women’s equality.

Building Credit: Creating a Gateway to Financial Well-being

2022-06-16

Having a low credit score or a lack of documented credit history can create a vicious cycle of shutting consumers out of opportunities for lending, housing or employment. That in turn makes it harder or even impossible to purchase the assets that lead to long-term financial well-being.

FDIC Recognizes Four Institutions for Expanding Financial Literacy

2020-02-24

WASHINGTON – As America Saves Week approaches, the Federal Deposit Insurance Corporation (FDIC) today is recognizing four institutions for their work to expand financial education and support healthy banking relationships. Read more: Money Smart News – Winter 2020.

America Saves Week, which runs from February 24–29, is an annual 'call to action' to encourage Americans to reexamine their financial lives and saving behaviors and to commit to make a plan to achieve better financial stability. FDIC is recognizing the following institutions for their use of the agency's Money Smart curriculum in their work to promote financial education and to support healthy banking relationships:

University of Wyoming Extension
Awarded the Creative Money Smart for Adults User of the Year.

The University of Wyoming Extension (UWE) Community Development Education team created the "Master Money Manager Coach" (M3C) program to help community organizations across Wyoming enhance the money management skills of their clientele. UWE used Money Smart for Adults to train staff from community organizations to teach money management, including individual coaching. The M3C program supports social service organizations in their efforts to help financially at-risk individuals improve their financial situation. The M3C program was offered in the counties of Teton, Laramie, Campbell, and Natrona. As a result, 33 social service organizations and 51 people from five counties are ready and equipped to assist clients who need help managing money.

First Commonwealth Bank of Indiana, Pennsylvania
Recognized as the Impactful Money Smart for Adults Partnership of the Year

First Commonwealth Bank (FCB) of Indiana, Pennsylvania, partnered with Goodwill of Southwestern Pennsylvania in Pittsburgh to provide financial education for participants in the Goodwill's Community Reintegration program. This program provides nonviolent offenders the opportunity to serve a portion of their sentence in a community setting, instead of jail. This allows program participants to resume their careers and return to the workforce, while getting help reintegrating into the community. Through its partnership with Goodwill, FCB had taught 22 financial education sessions to more than 220 participants as of December 2019. Encouraged by this success, FCB has now also partnered with the Lawrence County Community Action Program in New Castle, Pennsylvania, to help low- and moderate-income consumers.

��ߺ�� Neighborhood Services of Los Angeles
Recognized as the Impactful Money Smart for Adults Partnership of the Year

��ߺ�� Neighborhood Services began using Money Smart for Adults in 2010 in low- and moderate-income neighborhoods in Los Angeles County, California, and with incarcerated women and other people struggling financially. ��ߺ��'s program provides clients with one-on-one credit counseling and/or financial coaching after they have completed four modules of the Money Smart curriculum. ��ߺ�� also partners with several Los Angeles area banks, hospitals, nonprofits, city agencies, and others to deliver workshops. As of September 2019, ��ߺ�� has awarded certificates to more than 5,520 clients who have completed four or more Money Smart workshops.

JPMorgan Chase Bank, N.A.
Awarded the Expanding Business Opportunities with Money Smart for Adults

JPMorgan Chase Bank, N.A., has been using Money Smart products for several years to facilitate community financial education workshops. In early 2019, Chase began partnering with Samaritas House Heartline in Detroit, Michigan, an organization that provides shelter, food, and other assistance to women who are homeless or leaving the correctional system. Chase staff provides Samaritas House clients monthly financial education workshops using the Money Smart for Adults curriculum. More than 200 Chase staff members participated in Money Smart for Adults train-the-trainer webinars, and Chase credits this training as a key step in preparing bank staff to engage with Samaritas House clients. To date, more than 350 Samaritas House clients have participated in the program, and Chase plans to continue the partnership in 2020.

The FDIC offers a number of resources to institutions interested in providing financial education in their communities, as well as extensive educational materials for individuals of all ages to help them set and achieve their financial goals. For instance, through the FDIC's Youth Banking Network, financial institutions are working with schools and nonprofit organizations to teach financial education and offer students an opportunity to open a savings account—for many students, their first account.

During America Saves Week 2019, more than 40,000 Americans committed to save $145 million through the America Saves Pledge. Participating banks and credit unions reported to America Saves that 246,677 people deposited $503,574,890 into savings accounts at insured financial institutions.

To learn more about becoming part of the Money Smart Alliance or additional training opportunities, please visit the FDIC's Money Smart webpage, as well as our savings-related resources webpage. For more Money Smart success stories, visit Money SmartNews. Join us on social media via #GetMoneySmart.

CRC Applauds Efforts By Community Leaders, Lawmakers And Governor Newsom For Signing Into Law A Bill That Curbs The Power Of Payday Lenders In California

2018-10-11

California Governor Gavin Newsom signed into law Assembly Bill 539, the Fair Access to Lending Act. This legislation will prohibit the practice of charging unaffordable interest rates on consumer loans of $2,500 – $10,000. Existing law does not limit the interest rate that lenders can charge on loans of $2,500 – $10,000.

The lack of an interest rate cap has resulted in loans with annual interest rates in the range of 100 percent – 225 percent and above. According to the California Department of Business Oversight (DBO), the market for triple-digit interest rate loans went from nearly nonexistent ten years ago to having an annual loan volume of $1.1 billion in 2017. Triple-digit interest rate loans harm all Californians, particularly households of color. It kicks off a cycle of debt that buries families into poverty and hardship.

For instance, when a borrower defaults on a loan, the lender can “charge-off” the loan, giving the lender a federal and state income tax write-off. But the debt never goes away for borrowers who default – they face harmful consequences, including damaged credit, car repossessions, lawsuits, wage garnishment, bank levies, tax intercepts and even bankruptcy.

CRC experts made the following statements on AB 539 becoming state law:

“In a time when it’s harder than ever for working class households to make ends meet, I am glad that the Governor lived up to his word in reining in predatory lenders. Thanks to the dedication and work of grassroots advocates and organizers directly impacted by payday scams, California is making progress. This positive step, however, remains a step. Latinos and other immigrants are on the front lines and will continue to be. It remains vital that we use this opportunity to jump start efforts to do everything we can to root out financial predators preying upon all people living in California.” – Paulina Gonzalez-Brito, Executive Director, California Reinvestment Coalition (CRC)

“It’s a good day for everyday Californians. Triple digit interest rate loans have no place in California other than to strip the dignity and self worth of people trying to get by and survive. CRC looks forward to working with lawmakers wishing to boost further efforts to root out predatory lending practices running rampant throughout our economy and state.” – Vijay Das, National Policy and Communications Director, California Reinvestment Coalition (CRC)

Leading CRC members also shared their views:

“In a time when keen attention is being paid to issues of fairness, access and equality, I am glad to see the Governor keeping his word and begin to root out predatory lending in Fresno and beyond. Exploitation has no role in our economy. Safe banking services and real access to capital do.” Tate Hill, Director, Access Plus Capita

“Los Angeles has seen an explosion of predatory lenders preying upon members of our communities. Street corner after the next, cyber scammer after another, we see how these bullies ruin lives. We are grateful that progress is coming to our barrios and homes.” – Erika Toriz, Executive Director, HAVEN Neighborhood Services

���ߺ��� Neighborhood Services

FDIC Features CEO Erika Toriz & ���ߺ��� Neighborhood Services' Strategy in Driving Financial Wellness with Money Smart