Financial Empowerment Center (FEC)

The Paterson Financial Empowerment Center (FEC) offers professional, one-on-one financial counseling as a FREE public service to help residents achieve financial stability and long-term success.

Our dedicated financial counselors are here to help you overcome financial challenges, plan for your future, and gain control over your finances. Whether you're looking to improve your credit score, manage debt, or build a budget, we're here to support you every step of the way.

How We Can Help:

•    Create a budget and prioritize spending
We’ll work with you to develop a realistic budget based on your income and expenses. This includes identifying essential costs, cutting unnecessary spending, and setting aside funds for savings and debt repayment. The goal is to help you take control of your finances and make informed decisions.
•    Dispute incorrect credit report items
If there are errors on your credit report (such as incorrect personal information, fraudulent accounts, or inaccurate payment records), we’ll guide you through the process of filing disputes with the credit bureaus and ensuring your report reflects accurate information.
•    Legacy Planning
Our counselors can help you create a legacy plan to protect your assets and ensure financial security for your family and future generations. This includes setting up wills, trusts, and beneficiary designations, as well as discussing options for estate planning and inheritance to safeguard your family's future.
•    Open a bank account and increase savings
We can help you choose the right type of bank account that suits your financial needs, whether it’s a checking or savings account. Our counselors will also work with you to create a savings plan, set financial goals, and build an emergency fund to prepare for unexpected expenses.
•    Research and apply for government benefits
Our team will help you identify and apply for local, state, and federal benefits you may qualify for, such as food assistance (SNAP), housing support, Medicaid, and tax credits. We’ll ensure you understand the eligibility requirements and assist with the application process.
•    Resolve credit card and other debts
Our financial counselors will work with you to assess your current debt, including credit cards, personal loans, and other outstanding balances. We’ll help you create a repayment plan, negotiate with creditors if necessary, and explore options to reduce interest rates or consolidate debts to make payments more manageable.
•    Understand and improve your credit score
We’ll review your credit report with you, explain the factors that affect your score (like payment history, credit utilization, and account age), and provide actionable steps to help you improve your score over time. This may include setting up automatic payments, reducing debt balances, and responsibly using credit.

Locations and Co-Locations where you can have an in-person session with one of our counselors:

Main-Location:     NJCDC New Jersey Community Development Corporation
Located at:             13 1/2 Van Houten Street, Paterson, NJ 07505
Office Hours:         MON-FRI  9:00am-4:00pm
Phone:                      973-413-1655

Co-Location:         Department of Health & Human Services
Located at:            125 Ellison Street, 1st Floor Paterson, NJ 07505
Office Hours:        MON and WED  9:00am-4:00pm 
Phone:                     973-321-1242 

Co-Location:        OASIS
Located at:           9 Mill Street Paterson, New Jersey 07501
Office Hours:       MON and WED  9:00am-3:00pm
Phone:                    973-881-8307

For further information about the Paterson FEC, please contact:

Paterson FEC at (973) 413-1655 or
Department of Health & Human Services at (973) 321-1242 Ext. 1024
Daysiling Vargas, Local Government Manager

 
For new clients please click on the link below:  https://fecpublic.org/appointment-paterson 

All returning clients please refer to this link below:  https://fecpublic.org/portal-paterson