ARE YOU ONE OF THE APPROXIMATELY 800,000 NEW YORKERS WITHOUT A BASIC BANK ACCOUNT?

Subject: ARE YOU ONE OF THE APPROXIMATELY 800,000 NEW YORKERS WITHOUT A BASIC BANK ACCOUNT?
Date: 11/15/2005 6:34:24 PM Eastern Standard Time
From: MyNYC@nyc.gov
Reply To: msngrprdb2-1.5vygn.6pos.rs.0.5nrlb.-nc2thg@popcsms.csc.nycnet
To: reysmontj@aol.com
Sent from the Internet (Details)

Tuesday, November 15, 2005

ARE YOU ONE OF THE APPROXIMATELY 800,000 NEW YORKERS WITHOUT A BASIC BANK ACCOUNT?

If the answer is yes, you owe it to yourself to BANK ON NEW YORK.

A joint effort of the New York City Department of Consumer Affairs (DCA) and the New York State Banking Department, in partnership with nearly 40 banks and credit unions, BANK ON NEW YORK is a Citywide campaign to encourage "un-banked" New Yorkers to open a low- or no-fee bank account. Read the press release announcing the expanded campaign's kickoff and learn about participating banks and credit unions.

Why open a bank account?

Direct Deposit. A bank account facilitates the convenient direct deposit of your paycheck and income tax refund. If you are eligible for the Earned Income Tax Credit (EITC), a bank account offers an alternative to high-interest refund anticipation loans.

Savings. A bank account eliminates the need for expensive check cashers or other non-bank services that charge costly fees.

Credit History. Banks value long-time customers. That works for you when you need their help with personal, home, or other loans.

Security. In case of theft, damage, or loss, your bank account will be insured by the Federal Deposit Insurance Company (FDIC). For information on how to open a low- or no-fee bank account, visit DCA's BANK ON NEW YORK Home Page and download copies of the "BANK ON NEW YORK brochure" and "Opening a Bank Account" tip sheet.

What is the EITC?

The EITC is a federal, state, and city tax credit paid to qualifying workers who earn less than $35,000 annually. With an average payment of $2,355 to qualifying New York City households in 2004, the EITC helps hard-working families make ends meet.

For more information about the EITC and to know your rights when filing taxes and more, visit DCA's 2006 EITC Campaign.

Sincerely,

The New York City Department of Consumer Affairs
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