NeighborWorks Homeownership Center of Dutchess County announces the next round of The Debt Reducers Club

NeighborWorks Homeownership Center of Dutchess County announces the next round of The Debt Reducers Club. Along with Heritage Financial Credit Union’s Financial Development Center, The Debt Reducers club is aimed at assisting participants in enhancing their financial well-being by providing information to make informed financial decisions to increase savings capacity, reduce debt and increase credit scores. The program will provide a 2:1 savings match to reduce harmful debt to participants who successfully complete the program.

The program requires participants to save $25 per month for ten months in a designated savings account with Heritage Financial Credit Union. At the end of the ten months the program will provide a $500 match. The total, $750 will be used toward paying down harmful debt.

To qualify for the program participants must:

1. Be a current Dutchess County resident

2. Meet income eligibility guidelines. Household income cannot exceed 80% of Dutchess County’s Area Median Income.

3. Have at least $500 in harmful debt.

4. Complete NHC-DC’s Financial Capability program which consists of Financial Fitness Group education and one-on-one financial fitness counseling.

5. Open a designated savings account for DRC at Heritage Financial Credit Union.

6. Have an initial counseling session with HFCU’s Financial Development Center staff upon opening Debt Reducers Club savings account.

7. Participants will have a final counseling session with HFCU’s Financial Development Center staff upon completion of the program.

Enrollment for this program begins on March 1, 2024. For more information or to apply please contact us at:

NeighborWorks Homeownership Center of Dutchess County
313 Mill Street, Poughkeepsie, NY 12601
(845) 454-5176 Option 6
hudsonriverhousing.org
kgianna@hudsonriverhousing.org