RefundExpress

• The City of San Antonio partners with   Generations Federal Credit Union to provide taxpayers an alternative to refund anticipation loans.

• RefundExpress is an alternative refund  anticipation loan of the amount of the IRS-determined tax refund. It offers taxpayers an alternative to the refund anticipation loans (RALs) offered by commercial tax preparers that often include high fees and interest rates costing low-income taxpayers hundreds of dollars.

• No fees and no interest rate on the loan. Only  cost is $5 to start a credit union savings account.  Taxpayers receive the loan within 2-4 business days of IRS return "acceptance".  RefundExpress loan is repaid by IRS direct deposit of refund.

• 2,500 RefundExpress ARALs were distributed to taxpayers in 2009, totaling over $6.1 million in interest-free loans.

• Partnership with two local credit unions.
• Referred to program during VITA intake interview.
• Must have an annual percentage rate over 9 percent on their existing car loan.
• 110 program participants refinanced their car loan, resulting in a monthly savings of $50 to $250.

Fair Housing and Home Foreclosure Prevention

• Counseling services to persons facing foreclosure.
• Task force consists of 24 agencies and corporations.
• Assistance regardless of income or financial situation.
• 207 families avoided foreclosure in 2008.
• Counseling, advocacy and referrals on fair housing issues including landlord/tenant disputes, evictions and discrimination based on race, gender disability, sexual orientation or familial status.

 Fair Housing Web Site

Matched Savings

• The City of San Antonio matches $4 for every $1 saved      toward postsecondary education, homeownership or micro business. Maximum of $1,000 in personal savings matched for a total of $5,000.
• Participants must earn up to 200 percent of the Federal Poverty  Level, complete 12 hours of financial education       and save for a minimum of six months.
• 517 families have completed program requirements and       purchased assets: 183 families purchased homes with combined value of nearly $20 million, 312 families pursued postsecondary education.

      IDA Web Site

 IDA Working Family Vehicle Purchase Plan

• Participants earning up to 300 percent of the Federal     Poverty Level to purchase a new or certified pre-owned       Ford or Mercury vehicle.
• The City of San Antonio and Ford Motor Company        matches $2 for every $1 saved.  Participants must       complete financial education.
• Since January 2007, 54 families have purchases vehicles

Bank On San Antonio

• Working with area banks and credit unions to create a  positive first banking relationship for previously un-banked   San Antonio area residents.  Program is modeled on        Bank On San Francisco.
• Starter checking accounts for those with no experiences    with financial institutions.
• 2nd chance accounts for those with prior record of poor    credit or banking difficulties.
• Banks contribute up to $10,000 to support the city's IDA Program.

Financial Literacy for Children & Adults

• Provide financial literacy education for children, youth,        and adults in San Antonio.
• Children: Provide financial literacy to children ages 5 - 12    who are participants in the city's After School Challenge Program.
• Young adults: Working with area community colleges to require financial literacy education for all students        receiving financial aid.
• Adults: Provide Money Smart classes at three      neighborhood learning centers.

Making Connections San Antonio

• Seeks to positively impact two generations by focusing  efforts on families with young children.
• Aims to raise reading levels of third grade students.
• Encourages families to continue their education and work toward completion of college.
• Helps families raise incomes to a self-sufficiency level.
• Multiple benefit enrollment.
• Asset building, savings, and homeownership opportunities.

  Making Connections web site

Centers for Working Families