Services

Financial Services

Financial Services provides the people we serve with opportunities to pursue self-sufficiency through financial literacy and asset-specific trainings, as well as access to supported asset building and money management products. 

The Financial Services at CSPNJ are designed to promote financial stability and financial literacy consistent with the concepts of empowerment, personal responsibility, and recovery. We aim to move people from financial devastation and poverty, to financial well-being and independence.

We pursue this goal through education around the concepts of

  • Budgeting to save
  • Saving to invest
  • Controlling debt
  • Building wealth through investing
  • Asset accumulation strategies

In 2002, CEC broadened its mission to address the issues of poverty and resulting disempowerment faced by many individuals with very low income, especially those with behavioral health conditions. CEC developed, and now offers, many financial products and services aimed at promoting financial literacy, responsibility for money management, development of long-term savings, skills and habits to support acquisition of assets.

Financial Management Accounts, which provide support in budgeting and payment of bills, increasing tenancy, housing stability, and savings.

Match Savings Programs, including Savings Club Accounts offering clients up to a 1:1 match towards savings and asset building.

The Emergency Micro-Loan Program, a service for unexpected expenses with individualized payback agreements and 0% interest.

Credit Counseling, a free-of-charge service provided to people using CEC Financial Service who need assistance with building credit, reducing or eliminating debt, and/or improving credit scores. Participants work with a Financial Service staff member to evaluate all aspects of their credit and to work on a plan to achieve financial stability.

Financial Literacy Education, to help improve budgeting and money management skills in the areas of the basics of money, banking, smart shopping, building and repairing credit, asset specific education, and training to avoid predatory financial institution practices, using a curriculum that will engage and change people’s attitudes and their relationship with money.

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