Mark Levine

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1995

Mark Levine

Credit Where Credit Is Due

http://www.cwcid.org

New York, New York, United States

Community Improvement & Economic Development

The Bold Idea:

Washington Heights and West Harlem are two of Manhattan’s most economically disadvantaged neighborhoods, and they comprise one of New York City’s most densely populated areas. The average per capita income in these communities is $10,000—only two-fifths the national average. Few banks serve the area. Those banks that do operate here carry minimum balance requirements and monthly fees that are often out of reach for poorer families. Fifty percent of low-income individuals live without the basic security of bank accounts, and few have ever been able to take bank loans. Instead, families turn to the services of check-cashing stores and loan sharks.

Credit Where Credit Is Due (CWCID) was founded in 1994, and is committed to the economic empowerment of Upper Manhattan's low-income residents. To that end, they sponsor Neighborhood Trust Federal Credit Union (NTFCU), and run a bilingual financial literacy curriculum that includes: Personal Financial Literacy, Entrepreneur's Training Series, Homeownership Education, School Banking, and Youth Outreach. To provide affordable and accessible financial services to this population, CWCID opened the Neighborhood Trust Federal Credit Union in 1997. To date, 4,100 neighborhood residents have become members of the credit union, and nearly 2,000 people have participated in CWCID's curriculum.

Biography:

Mark Levine is currently the Executive Director of TASC, The After-School Corporation.