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Paterson to expand Financial Empowerment Center services with $50,000 state amendment
Summary
Council heard a presentation on an amendment adding $50,000 and legacy‑planning services to the city's Financial Empowerment Center; staff said the center has exceeded goals, served 805 residents year‑to‑date and helped clients reduce $1.3M in debt.
At the Nov. 6 workshop the council reviewed an amendment to the city's MOU with the Cities for Financial Empowerment to add legacy‑planning services — wills, medical proxies and powers of attorney — and $50,000 in implementation funding. The director said Paterson operates the only financial empowerment center in New Jersey under the NJCDC partnership and that the amendment expands services to help residents organize estate and beneficiary documents.
Staff provided outcome figures for the center: year‑to‑date the program has served 805 individuals, exceeded the CFE goal by 161% and reported roughly $1.3 million in debt reduction for participants. Council members asked for written reports and outcome documentation; the director said aggregated, anonymized data and software‑based reports can be provided but client identities are protected unless participants sign releases.
What's next: The director offered to circulate program data and to make copies of the center's year‑to‑date report for council members ahead of final action.
