SunTrust Foundation Awards $50,000 Grant to Help Expand the Financial Check-Up
The Mayor’s Office of Financial Empowerment (OFE) is thrilled to announce a generous grant of $50,000 from the SunTrust Foundation to support the Boston Tax Help Coalition (BTHC). This funding will help expand the Financial Check-Up (FCU), a light touch, one-on-one credit building initiative, conducted as part of the BTHC’s free tax preparation services.
Taxpayers who participate in the FCU receive a “soft pull” of their credit report and individualized guidance on how to build their credit score and how to prioritize the use of their tax refund. They also obtain information on community-based resources, such as legal services, food banks, and housing organizations.
In 2019, 4,149 taxpayers participated in the FCU before tax preparation, and 2,339 opted to receive the free credit analysis. Approximately 1,213 also enrolled in Boston Builds Credit, the City’s credit building program that connects residents to ongoing credit building support.
“On behalf of the SunTrust Foundation, we’re pleased to support the City of Boston’s Office of Financial Empowerment, which shares our goal of instilling financial confidence throughout the communities we serve,” said Greg Badger, head of Northeast Corporate Banking, SunTrust Robinson Humphrey. “We admire and support the work done by the Boston Tax Help Coalition to create a pathway toward financial well-being for individuals and families, enhanced by adding credit building to the tax preparation process.”