ALBANY, N.Y.– The New York Credit Union Association has released its MORE Report, an annual compilation of credit union outreach stories that celebrates the positive difference New York credit unions make for their members and communities.
The 2014 MORE Report highlights New York credit unions’ efforts in seven categories: adult financial education; community investment and outreach; customized products and services; financial counseling; immigrant outreach; Volunteer Income Tax Assistance, or VITA; and youth financial education.
According to the report, in 2014, New York’s credit unions provided:
- More than 14,000 in-classroom lessons on saving, budgeting and other financial skills.
- Financial education lessons to more than 230,000 youths and 172,000 adults.
- 248,000 hours of volunteer community service.
- 38.3 million in donations to local causes, organizations and schools.
- The state’s credit unions also helped New Yorkers file 81,500 tax returns and claim $110 million in tax credits and benefits. In total, New York’s credit union staff and volunteers provided 36,000 hours of service through VITA, a federal program that offers free tax services to qualifying individuals.
- Nearly all New York credit unions—99%—offer free checking accounts, and 91% provide loans of $1,000 or less in an effort to combat predatory payday lending practices.