GBCA Awarded $100,000 Grant from Impact 100 for Paterson Family Financial Empowerment
Hackensack, NJ – Greater Bergen Community Action, Inc. (GBCA), the federally-designated anti-poverty agency of Bergen County, which in recent years expanded to provide services in the cities of Paterson, Jersey City and Passaic, received one of three $100,000 grants awarded by Impact 100 Garden State: a women-led philanthropic organization that provides high impact, transformational grants to local nonprofits that reach under-served populations in Morris, Passaic, Somerset and Sussex counties.
The grant will fund the agency’s Paterson Family Financial Empowerment Program, which offers banking services and financial empowerment classes through its associated Federal Credit Union, 1st Bergen. Of the $100,000, $50,000 is allocated to education and banking services for Paterson families and the other $50,000 is for direct funds to those same families. Additionally, in partnership with Impact 100, GBCA put $50,000 of its own into the loan pool.
Aligned with the agency’s work to build more sustainable families, community institutions, and neighborhoods, this initiative will provide essential resources for lasting impact by offering GBCA’s Paterson Head Start families free classes on how to:
increase their credit score
manage and save money
consolidate their debt at lower interest rates
Integral parts of the initiative are 1st Bergen “satellite” branches, which will function as once-a-week banking locations at all GBCA Paterson Head Start schools to make services more accessible to Head Start families and staff. At these satellite branches, parents will be able to open a 1st Bergen bank account with only five dollars, conveniently deposit their checks for free, and apply for personal and auto loans.
For Paterson Head Start families interested in the program and any other inquiries, please visit www.GreaterBergen.org/FEP or contact Anna Snead at (973) 546-2634 ext. 7572.
ABOUT GREATER BERGEN COMMUNITY ACTION
Bergen Community Action (GBCA) is a 501(c)(3), not-for-profit Community Action Agency. Established in 1967, Greater Bergen is part of a nationwide network of poverty-fighting enterprises which were established as part of the nation’s effort to address the intractable and persistent problem of poverty in America. For more information about GBCA, go to www.greaterbergen.org.
ABOUT 1ST BERGEN FEDERAL CREDIT UNION
1st Bergen Federal Credit Union is a non-profit financial institution that focuses on serving the financial needs of its members rather than making a profit. 1st Bergen is an affiliate of Greater Bergen Community Action (GBCA), and both organizations aim at empowering financially insecure individuals and families in order to make them self-sufficient and secure a brighter future. 1st Bergen has been serving the community since 2009. Anyone who lives, works, worships, volunteers, or conducts business in Bergen County, Paterson or Jersey City is able to become a member. For more information, visit: www.1stbergen.com.
ABOUT IMPACT 100 GARDEN STATE
Impact 100 Garden State’s mission is to engage women in philanthropy by collectively providing high impact grants to nonprofits serving the counties of Morris, Passaic, Somerset, Sussex or Union. Their goals are to provide transformational funds to organizations that reach under-served populations; to raise the profile of those that are deserving but lesser-known; and to highlight unmet needs in the areas of Arts and Culture; Children and Families; Education; Environment, Preservation and Recreation; and Health and Wellness. For more information about Impact 100, go to http://impact100gardenstate.org/.