The Long Island Island Financial Empowerment Center (LIFEC) is Here

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On Friday December 15, 2023, Vision Street Research (VSR) in partnership with Choice For All, made Long Island history. We shared in the ribbon cutting and opening of the first Long Island Financial Empowerment Center (LIFEC), located in Roosevelt,NY. It was great to see the community and governmental support of this historical moment. When Choice For All CEO Jacob Dixon was asked about the recent ribbon cutting he said, “This moment is history making for Long Island to help build financial health in all zip codes. We are excited to lead this effort with community leaders to address credit, savings, debt as well as access to safe banking products and experiences across our region. Together, we can make a difference and look forward to working residents in reaching financial wellness. “

The path from idea generation to launch was no small feat. In fact, it was a four year journey that dates back to 2019 when Choice For All CEO Jacob Dixon and Vision Street Research CEO Erika Hill, attended a BankOn Conference in Washington D.C. As they sat at their table listening to the speakers for the day, they discussed the idea of creating a financial empowerment center on Long Island. 

In 2020, as Economic Equity Action Team Chairs of The Urban League of Long Island’s State of Black Long Island Initiative (SOBLI), they invited black & brown communities on Long Island to have candid conversations about the economic impact of Covid-19 on their families and their businesses. Access to expertise and resources to improve their financial outlook were among the challenges raised during these conversations. 

December 15th’s LIFEC ribbon cutting  was about cutting out a barrier to access for the Roosevelt Community. There is still more work to do. There are 17 more zip codes that need this access. A 2017 Long Island Credit Profile produced by the Federal Reserve Bank of New York (in collaboration with community partners such as Choice For All) indicated that Roosevelt is one of 18 zip codes needing improved credit access and one of two communities  (Hempstead is the other community) with the lowest value band in terms of debt management, credit capacity and access to mainstream credit.

Choice For All is a client and partner in this #economicequity work utilizing VSR’s Project Management and Data Analysis Services. We look forward to continuing to support the expansion of this project across Long Island. 

For more information about the Long Island Financial Empowerment Center (LIFEC) please call 516-544-2955.

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